On January 30, 2024 Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) reported the formation of Regeneron Cell Medicines based on an agreement with 2seventy bio, Inc. to acquire full development and commercialization rights to its pipeline of investigational novel immune cell therapies, along with its discovery and clinical manufacturing capabilities (Press release, Regeneron, JAN 30, 2024, View Source [SID1234639713]). 2seventy bio employees who support the acquired programs will join Regeneron Cell Medicines, a newly formed research & development (R&D) unit to advance cell therapies and combination approaches in oncology and immunology.
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"Regeneron and 2seventy share a relentless commitment to push the boundaries of science in pursuit of therapies that can improve people’s lives. Our expertise in antibody technologies and emerging genetics capabilities, combined with 2seventy’s cell therapy platforms, presents a significant opportunity to address cancer and other serious diseases in new and impactful ways," said George D. Yancopoulos, M.D., Ph.D., Board Co-Chair, Co-Founder, President and Chief Scientific Officer of Regeneron. "By integrating 2seventy’s pipeline of cell therapies and their talented team, we are complementing our own expertise and portfolio of innovative immuno-oncology treatments, which will allow for potentially transformative combinations that can really make a difference in patients’ lives."
In 2018, Regeneron and bluebird bio (which subsequently spun out 2seventy bio in 2021) entered into an agreement to leverage their complementary technologies to discover novel cell therapy approaches to address cancer. Under the original agreement, Regeneron had the right to opt-in to a co-development/co-commercialization arrangement for collaboration targets. Under the terms of the new agreement, Regeneron will acquire full development and commercialization rights of 2seventy bio’s preclinical and clinical stage pipeline and will assume ongoing program, infrastructure and personnel costs related to these programs. There will be an upfront payment of $5 million and a single milestone payment from Regeneron to 2seventy bio for the first major market approval of the first approved product. Regeneron will pay 2seventy bio a low single-digit percent royalty on revenues generated by the products. The transaction is expected to close in the first half of 2024 subject to certain closing conditions including SEC-filings required by 2seventy bio and landlord consent of the sublease agreements.
To realize the full potential of these programs and capabilities, Regeneron Cell Medicines has been created to advance the next generation of cell therapies and explore combinations with Regeneron’s proprietary antibodies and bispecifics. An estimated 150 employees from 2seventy bio will transition to Regeneron to continue their work on cell therapy programs and will remain located in Cambridge, MA and Seattle, WA. Philip Gregory, D.Phil., currently the Chief Scientific Officer of 2seventy bio, will be appointed Senior Vice President and Head of Regeneron Cell Medicines upon closing of the transaction.
"Being part of Regeneron not only supercharges our ability to execute on our current portfolio of CAR T and T cell receptor programs but also creates unique opportunities for the combination of cell-based medicines with antibodies and other Regeneron biologics. Moreover, we can immediately build upon the strength of our longstanding relationship and our shared innovation-focused and science-driven approach to create new medicines for patients in need," said Philip Gregory, D.Phil., who, as noted above, will be appointed Senior Vice President, Head of Regeneron Cell Medicines. "We are excited to join an organization with decades of proven scientific innovation and the resources and visionary mindset to make Regeneron Cell Medicines a success."