2seventy bio

The European Commission has granted expanded approval to Bristol Myers Squibb's CAR T cell therapy Breyanzi (lisocabtagene maraleucel) for treating adults with relapsed or refractory follicular lymphoma after two or more lines of systemic therapy.

Bristol Myers Squibb has agreed to acquire 2seventy bio for $286 million, ending the profit-sharing arrangement for the BCMA-targeted CAR-T therapy Abecma used in multiple myeloma treatment.

Bristol Myers Squibb has acquired 2seventy Bio for $102 million net, just weeks after Bluebird Bio, 2seventy's parent company, was sold for a mere $30 million, highlighting significant valuation challenges in the gene therapy sector.

The first quarter of 2025 witnessed significant biotech partnership activity, with Eli Lilly, AstraZeneca, and Novo Nordisk emerging as top collaborators in deals worth billions across small molecules, antibodies, and RNA therapeutics.

Bristol Myers Squibb and 2seventy bio halted enrollment in the Phase 3 KarMMa-9 trial evaluating Abecma (idecabtagene vicleucel) plus lenalidomide maintenance versus lenalidomide alone in newly diagnosed multiple myeloma (NDMM) patients.

• 2Seventy Bio has stopped enrolling patients in the Phase 3 KarMMa-9 study evaluating Abecma in newly diagnosed multiple myeloma patients with suboptimal responses to stem cell transplants. • The decision aims to save $80 million and help 2Seventy Bio achieve financial breakeven next year, following a $27 million operating loss in the second quarter. • The discontinuation was influenced by the improved treatment landscape for newly diagnosed multiple myeloma, resulting in fewer eligible patients for the study. • Abecma, co-developed with Bristol Myers Squibb, remains available for later-line treatment of multiple myeloma, with 2Seventy Bio projecting continued revenue growth.