Tarrytown-based Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) has launched 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.
The acquisition agreement includes 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 also pay 2seventy Bio a low single-digit percent royalty on revenues generated by the products. 2seventy Bio employees who support the acquired programs will join Regeneron Cell Medicines, a newly formed research and development unit to advance cell therapies and combination approaches in oncology and immunology.
“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 Dr. George D. Yancopoulos, Regeneron’s co-chairman, president and chief scientific officer. “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.”
