2seventy Sells Hemophilia Assets to Novo

2seventy Bio is undergoing further restructuring, as it announced the sale of its hemophilia A research program and related technology rights to Novo Nordisk. This partnership between the two companies began in 2019, aiming to develop a gene editing therapy for hemophilia A. The recent agreement involves Novo Nordisk paying $38 million in cash to acquire the therapy, which is still in preclinical development. Employees from 2seventy who have been involved in this project will transition to Novo Nordisk.

2seventy CEO Chip Baird expressed confidence in Novo Nordisk's ability to advance the project, highlighting the strong partnership over the past five years. He believes that under Novo’s leadership, the development of a promising new treatment for hemophilia A patients will continue to make progress.

2seventy Bio emerged from Bluebird Bio's division nearly three years ago, inheriting Bluebird's cancer drug pipeline. The journey has been challenging for 2seventy, facing difficulties in securing new funding due to a weak biotechnology financing market. Additionally, the initial launch of Abecma, a cell therapy for multiple myeloma co-developed with Bristol Myers Squibb, was hindered by supply constraints.

In September of last year, Nick Leschly, the long-serving CEO of Bluebird, stepped down as the head of 2seventy. This move was part of a restructuring effort that resulted in the loss of approximately 180 jobs. Following this, in a deal five months later, 2seventy sold a significant portion of its pipeline to Regeneron Pharmaceuticals at a low price, which included transferring 150 employees to Regeneron.

The deal announced on Thursday further narrows 2seventy’s focus to Abecma, especially after its recent approval for earlier use in multiple myeloma treatment in the United States. Besides the hemophilia A program, Novo Nordisk is also acquiring rights to 2seventy’s in vivo gene editing technology for applications outside of cancer and gene editing for autoimmune disease cell therapies.

The hemophilia A program utilizes a gene editing technology called megaTALs, aimed at inserting a functional gene into liver cells. The target gene, Factor VIII, is mutated in individuals with hemophilia A, leading to the condition. Novo Nordisk, though primarily recognized for its diabetes and obesity treatments, is actively involved in hemophilia research and recently reported progress on a preventive therapy in development.

Karina Thorn, Novo Nordisk’s head of global nucleic acid therapies research, stated that Novo is committed to developing curative therapies. This includes advancing their next-generation in vivo genome editing program, which aims to provide individuals with hemophilia A a lifetime free from factor replacement therapy.

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