BLUE - bluebird bio completes spin-off of cell therapy company 2seventy bio

bluebird bio (BLUE +1.2%) has completed the planned spinoff of cell therapy company 2seventy bio (TSVT), which will begin trading on Nasdaq tomorrow. 2seventy's portfolio includes Abecma (idecabtagene vicleucel), a gene therapy approved earlier this year for multiple myeloma. The company says that two oncology candidates are scheduled to enter the clinic in 1H 2022. bluebird CEO Nick Leschly will become CEO of 2seventy, while bluebird President, Severe Genetic Diseases, Andrew Obenshain will replace him. bluebird has previously stated plans to distribute shares in 3:1 ratio. Outstanding shareholders will receive one 2seventy share for every 3 bluebird shares they own.

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bluebird bio completes spin-off of cell therapy company 2seventy bio