The gene therapy pioneer bluebird bio has snapped up a biotech outfit skilled in gene-editing and cell-signaling tech in a deal valued at up to $156 million, including about $16 million worth of its stock.
Gene therapy 2.0 at bluebird bio is demonstrating some early signs of success with an upgrade to its experimental therapy for the genetic blood disorder beta-thalassemia demonstrating promising results in a pair of patients, weaning them off the regular blood transfusions needed to stay alive.
Shares of Cambridge, MA-based bluebird bio shot up after CEO Nick Leschly noted the looming arrival of early-stage data for its drug LentiGlobin, designed to treat the rare blood disorder beta thalassemia.
Last year when we did the list of the top 10 biotech IPOs of 2012, we were lucky to have 10. Actually, there were 11, and that looked pretty good compared to the lean and hungry years of 2008 to...
After a slight lull in the biotech IPO arena, new offerings came barreling back this week with some fresh breakouts. In particular Foundation Medicine priced over the range and immediately soared more than 80%. And Ophthotech also crested its range, erasing any lingering doubts about the short-term sustainability of the biotech IPO frenzy. Together they raised $273 million in a 24-hour pop. Read the report >>
A funny thing happened to Fate Therapeutics on its way to the hot biotech IPO market. Following fast on the heels on a pair of breakout IPOs, the offering flopped. And the setback is reigniting a debate over just how long the IPO market can continue to sizzle.
During all of last year there were only 11 biotech IPOs. But even that weak number looked pretty good compared to the barren years leading away from the 2008 financial crisis. In the last 6 months, though, the industry has seen a tremendous rebound, with almost twice that number of IPOs in half the time. And there's no sign that the great leap into the public market is waning, with 10 more IPOs in the queue. Read the full report >>
Biotech IPOs are officially back in vogue. Bluebird bio--set up to develop new gene therapies for orphan diseases--priced its IPO at $17 a share, actually above its range. The biotech raised $101 million after bumping up the number of shares it had on offer.
Two more biotech outfits emerged this week as contenders to complete initial public offerings, highlighting the open season for the deals this year. Bluebird bio and PTC Therapeutics has mounted campaigns to go public with pipelines that target the molecular causes of rare genetic diseases.
Celgene has made a move into the resurgent gene therapy field. With a focus on immunotherapies against cancer, Celgene revealed collaborations with a pair of partners on Thursday that highlights increased industry interest in the previously shunned gene therapy field after a series of regulatory and scientific victories in recent years.