Bluebird Bio, a gene therapy company, has entered into a definitive agreement to be acquired by global investment firms Carlyle Group Inc. and SK Capital Partners. The deal, worth up to $9.84 per share, is expected to provide the company with capital to scale its commercial delivery of treatments for patients suffering from sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy.
The acquisition comes after Bluebird Bio’s financial struggles, including a denial of priority review voucher by the FDA and mounting challenges that could have led to a loan default. The deal is anticipated to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
Former Mirati Therapeutics CEO David Meek will take over as Bluebird Bio’s new CEO after the acquisition. The company will become privately held upon completion, with its shares no longer being publicly traded. Bluebird Bio has also entered into amendments to its loan agreement with Hercules Capital to facilitate adequate liquidity and maintain operations through the closing.
In a statement, Andrew Obenshain, current CEO of Bluebird Bio, noted that securing a strategic partner was crucial to maximizing value for stockholders and ensuring the long-term future of therapies.
Source: https://finance.yahoo.com/news/whats-going-gene-therapy-company-135337993.html