Gene therapy maker Bluebird Bio is selling itself to private equity firms Carlyle and SK Capital for about $30 million, marking a significant reversal from its peak as one of the most promising biotech firms. The sale comes after years of financial struggles and setbacks in its gene therapies.
Bluebird Bio develops three gene therapies: Zynteglo for beta thalassemia, Lyfgenia for sickle cell disease, and Skysona for cerebral adrenoleukodystrophy. Despite the promising results from these treatments, the company has faced significant challenges, including a patient developing cancer after receiving its gene therapy for sickle-cell disease in 2018.
The company’s struggles also led to criticism over pricing, with European payers rejecting its treatment for beta thalassemia at $1.8 million per patient. As a result, Bluebird withdrew the treatment from Europe and focused on the US market. However, even in the US, none of its gene therapies have been able to alleviate financial concerns.
Bluebird’s sale is a stark contrast to the company’s past performance, which saw it valued at over $9 billion at one point. The deal represents a fraction of the value once held by the company, with former CEO Nick Leschly selling his shares for $80 million during his tenure.
The sale also raises questions about whether companies can translate the promise of gene therapies into viable businesses. Vertex’s competing gene therapy for sickle cell disease has seen a slow launch, and Pfizer recently announced it would stop selling a gene therapy for hemophilia due to weak demand. Despite these challenges, Bluebird’s treatments hold significant potential to change lives.
Source: https://www.cnbc.com/2025/02/21/bluebird-bio-gene-therapy-sells-itself-to-carlyle-and-sk-capital.html