Journey of 2Sevnty Bio - Spin-off, Key Onco-deals, and Acquisition

🤝 Bristol Myers Squibb is set to acquire 2seventy bio in an all-cash transaction valued at approximately $286 million. After accounting for 2seventy bio’s cash reserves, the net acquisition cost for BMS stands at around $102 million. The deal is expected to close in H2'25.

👉 This acquisition gives BMS full control of Abecma (idecabtagene vicleucel), a BCMA-targeted CAR-T cell therapy indicated for the treatment of adult patients with R/R multiple myeloma after two or more prior lines of therapy. Notably, Abecma was co-developed by BMS and 2seventy bio. 

⭐ The attached image gives a quick overview of the journey of 2seventy bio—from its formation and key oncology deals to its acquisition.

👉 From this acquisition, several important questions emerge:

❓ Even with an active approved asset, why was 2seventy bio valued at only $286 million?

❓ What are the key competitors of Abecma in the multiple myeloma space?

❓ How is the multiple myeloma landscape expected to evolve over the next two to three years?

❓ What are the main benefits BMS can expect from this acquisition?

For answers to these questions and additional insights, feel free to contact us at support@oncofocus.com.