Cor­rect­ed: 2sev­en­ty bio sells R&D unit to Re­gen­eron for $5M up­front, cuts ad­di­tion­al staff

Af­ter a rough year, 2sev­en­ty bio is tak­ing ex­treme mea­sures. The blue­bird bio spin­out is sell­ing its en­tire R&D pipeline to Re­gen­eron, lay­ing off some of its staff, and get­ting a new chief ex­ec­u­tive in Chip Baird.

Along­side the pipeline sale, Re­gen­eron will ac­quire 2sev­en­ty’s R&D in­fra­struc­ture and per­son­nel, which in­cludes 160 em­ploy­ees in Cam­bridge, MA, and Seat­tle. Philip Gre­go­ry, 2sev­en­ty’s chief sci­en­tif­ic of­fi­cer, will head Re­gen­eron’s new­ly formed Re­gen­eron Cell Med­i­cines unit when the deal clos­es.

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