2seventy bio (TSVT) just unveiled an update.
2seventy bio, Inc. has completed the sale of its oncology and autoimmune programs, along with certain assets, to Regeneron Pharmaceuticals for $5 million in cash and potential future earnings including a milestone payment and royalties. The deal also involved the sublease of 2seventy bio’s facilities and the termination of a prior collaboration agreement. Additionally, amid these changes, former president and CEO Nick Leschly amended his Transition Agreement to maintain eligibility for company benefits while serving as Chairman. The company has publicly announced the closure of this transaction.
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