On Jan. 30, 2024, Regeneron Pharmaceuticals (Regeneron) announced the formation of a new R&D unit, Regeneron Cell Medicines, founded on an agreement with 2seventy bio, a US-based immuno-oncology cell therapy company. Under the agreement, Regeneron acquires full development and commercialization rights to 2seventy bio’s pipeline of investigational novel immune cell therapies, in addition to that company’s discovery and clinical manufacturing capabilities.
The financial terms include an upfront payment of $5 million. Regeneron will also pay a single milestone payment to 2seventy bio for the first major market approval of the first approved product. In addition, Regeneron will pay 2seventy bio a low single-digit percent royalty on revenues generated by the products.