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BlueBird Organic Sells to Carlyle and SK Capital Investment Capital Companies for around 30 million dollars, the company announced on Friday, marking the end of the Bluebird fall in one of the most buzzing biotechnological companies to the one Dawn of missing money.
BlueBird shareholders will receive $ 3 per share with the possibility of obtaining another $ 6.84 per share if the BlueBird’s gene therapies reach $ 600 million in sales during a period of 12 months by the end From 2027. Bluebird’s actions closed $ 7.04 on Thursday. They dropped 40% on Friday after the company announced the sale.
For over thirty years, BlueBird has been at the forefront of the creation of punctual treatments that have promised to cure genetic diseases. At one point, Bluebird’s market capitalization hovered around $ 9 billion when investors joined the idea that the company could succeed with its genetic therapies. He fell under 41 million dollars After the company has faced several scientific setbacks, separated its cancer work into another company and fell into financial despair.
The turning point occurred in 2018 when BlueBird pointed out that a patient who received his gene therapy for sickle cell anemia has developed cancer. BlueBird concluded that his treatment had not caused the condition, but the revelation began a series of questions surrounding the safety of its DNA modification treatments.
BlueBird was also faced with the workforce of European payers after having evaluated his gene therapy for Blood Blood Thalassémie, called Zynteglo, at 1.8 million dollars per patient. The company withdrew the treatment of Europe in 2021, just two years after its approved. BlueBird said that he would rather focus on the United States, where he was preparing for Zynteglo’s approval for beta thalassemia, Lyfgénie for sickle cell anemia, as well as another therapeutic skysona for a rare brain disease called adrenoleukody cerebral.
These three gene therapies have been approved in recent years, but none of them has been able to soften BlueBird’s financial misfortunes. The company spent hundreds of millions of dollars a year. The unloading of BlueBird cancer treatments in the new 2Sevey Bio company has also eliminated an important source of income.
During the last update in November, BlueBird said that his money would finance the business operations in the first quarter of this year. The sale marks a reversal of the past performance of Bluebird. The initial price of around $ 30 million is a fraction of the former executive chief of $ 80 million in Bluebird, Nick Leschly, selling the company’s shares during his stay there.
And it is in contradiction with the transformer results that most patients see with business treatments. This journalist spoke to patients who were desperate for the possibility of receiving Zynteglo, as well as a 10-year-old girl who felt lucky to become the first person in the United States to receive treatment after her approved.
The whole field is faced with difficult questions at the moment to find out if companies can reflect the promise of punctual treatments for rare diseases in viable companies. SummitCompeting gene therapy for sickle cell anemia, CASGEVY saw an equally slow launch. Pfizer Thursday, he announced that he would stop selling gene therapy for hemophilia that was approved only a year ago, citing a low request.
Bluebird’s treatments could still change many lives. They were simply not enough to change the fate of the business.