More than a year into a strategic pivot to zero in on the multiple myeloma cell therapy Abecma, 2seventy bio is selling itself to partner Bristol Myers Squibb. | More than a year into a strategic pivot to zero in on the multiple myeloma cell therapy Abecma,

Multiple myeloma cell therapy Abecma is the lone remaining asset of 2seventy Bio, which spun out from Bluebird Bio

Bristol-Myers Squibb acquires 2seventy bio for $286M, marking the end of a once-promising biotech. Check out if this is a good deal for BMY or TSVT.

Inc. has announced a definitive merger agreement under which BMS will acquire all of the outstanding shares of 2seventy bio.

(Reuters) -Bristol Myers Squibb will acquire 2seventy bio for about $286 million in cash, sending the cancer cell therapy maker's shares up 76% in premarket trading on Tuesday. Late on Monday, 2seventy said Bristol Myers will acquire all outstanding shares of the company for $5.

The deal ends 2Seventy’s short run as an independent company, during which it restructured, sold off research and lost nearly all of its market value.

Bristol Myers Squibb buys 2seventy bio for $286 million, strengthening its cancer portfolio with Abecma CAR-T therapy for multiple myeloma.

2seventy bio worked with BMS on the development of BCMA-directed CAR-T therapy Abecma (idecabtagene vicleucel), used to treat blood cancer multiple myeloma, which brought in $406 million in sales last year, a 14% decline on the prior year due to rising levels of competition in the multiple myeloma market and some manufacturing issues.

Bristol Myers Squibb to acquire 2seventy Bio for $5.00 per share in a $286 million all-cash deal, an 88% premium to its last close. Expected to close in Q2 2025.