With its share price chewed to pieces, Nick Leschly's 2sev­en­ty scores $170M to help weath­er the storm

A lit­tle more than a week af­ter blue­bird’s CFO an­nounced a quick ex­it as the com­pa­ny flagged an alarm about its abil­i­ty to sur­vive, the biotech’s long­time leader — Nick Leschly — is tout­ing a $170 mil­lion deal de­signed to car­ry his spin­out past the cur­rent car­nage on Wall Street.

2sev­en­ty bio sold close to 14 mil­lion shares $TSVT to raise the cash, which the com­pa­ny is care­ful to point out will land on top of the $362 mil­lion stash the biotech end­ed the year with. Add in its Abec­ma rev­enue, where they’re part­nered with Bris­tol My­ers Squibb, and the crew is promis­ing that they have the funds to weath­er the storm and get to 2025.

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