2seventy bio, Inc.: M&A transaction — 2seventy bio sells hemophilia A program and gene editing tech to Novo Nordisk for up to $40M

2seventy bio, Inc.

Upfront cash of $38M plus $2M holdback for indemnification; total potential $40M.
Novo Nordisk acquires Hemophilia A program and rights to megaTAL in vivo gene editing outside oncology and certain cell therapies.
2seventy bio will focus exclusively on Abecma (BCMA CAR T for multiple myeloma) with Bristol Myers Squibb.
Team members involved in the program will join Novo Nordisk.
Existing collaboration agreement with Novo Nordisk terminated effective June 21, 2024.

item 1.01 item 2.01 item 2.05 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

2seventy bio, Inc. completed a disposition involving Novo Nordisk A/S for $38 million in cash, plus up to an additional $2 million that will be held back by Novo for 12 months (closed 2024-06-21).

Action: disposition
Counterparty: Novo Nordisk A/S
Consideration: $38 million in cash, plus up to an additional $2 million that will be held back by Novo for 12 months
Closing: 2024-06-21

Exact text from the filing

(the “Company”) entered into an asset purchase agreement (the “Purchase Agreement”) with Novo Nordisk A/S (“Novo”). Subject to the terms and conditions of the Purchase Agreement, the Company sold to Novo (the “Asset Sale”) , the Company’s program for the research, development, manufacture, regulatory approval for, and commercialization of, gene therapy products exploiting the megaTAL Platform that is directed to the treatment, diagnosis and prevention of hemophilia (collectively, the “Programs” and such assets, the “Transferred Assets”).

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Source: SEC EDGAR

accession 0001860782-24-000089

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