2seventy has sold the rights to its hemophilia A program and in vivo gene editing technology to Novo Nordisk in a continued effort to focus on its CAR-T therapy, Abecma.
In a deal that could reach $40 million, Novo will pick up a clinical in vivo genome editing program for hemophilia A, as well as rights to 2seventy's in vivo gene editing technology, known as megaTAL, outside of oncology and gene editing for autologous or allogeneic cell therapies of immune cells for the treatment of autoimmune disease. The 2seventy team currently involved in the program will also join Novo Nordisk.
The deal builds on a multi-year research collaboration between the two companies originally inked in 2019 and expanded in 2022.
For 2seventy, the divestiture is part of its strategic restructuring, announced last September, that focused on a "return to growth" strategy for Abecma, its approved BCMA-targeted CAR-T therapy for multiple myeloma. The restructuring also came with a 40% reduction in headcount.
Abecma, jointly developed and commercialized with Bristol Myers Squibb, became the first cell-based gene therapy approved by the FDA for the treatment of multiple myeloma in March 2021 and recently won an expanded approval for earlier use in multiple myeloma.
In January, in connection with the realignment, 2seventy entered into an asset purchase agreement with Regeneron to sell off its oncology and autoimmune R&D programs, clinical manufacturing capabilities and related platform technologies.