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IBT backed Regeneron teams up with Bluebird on T cell cancer therapies

IBT backed Regeneron teams up with Bluebird on T cell cancer therapies

IBT backed Regeneron teams up with Bluebird on T cell cancer therapies

US top tier biotech Regeneron Pharmaceuticals (NASDAQ: REGN) is to make a $100m equity investment at a 59% premium in the gene therapy pioneer Bluebird Bio, as part of a  newly established collaboration to develop and commercialise novel immune cell therapies for cancer. Regeneron is a top ten holding for the UK’s International Biotechnology Trust (IBT, 3.4% of NAV), which also has a smaller holding in Bluebird Bio. Bluebird is also held by Scottish Mortgage Investment Trust (SMT, 1.8% of NAV).

The collaboration will allow Regeneron to use its VelociSuite platform for  T cell receptors (TCRs) directed against tumour-specific proteins and peptides combined with Bluebird Bio’s expertise in gene transfer and cell therapy. The approach will be to develop modified T cells that can reach both extracellular and intracellular tumour antigens. Regeneron and Bluebird have jointly selected six targets and will equally share the R&D costs up to submission of IND applications (permission to start clinical trials).  When an IND is submitted, Regeneron will have the right to opt-in to a co-development/co-commercialisation arrangement with 50/50 cost and profit sharing. If Regeneron does not opt-in, it will be eligible to receive milestone payments and royalties from Bluebird on any potential resulting products.

Bluebird says the collaboration will complement its existing cell therapy portfolio. Notably, Bluebird has been collaborating since 2013 with Celgene on a portfolio of cell therapy programmes, including the anti-BCMA CAR T bb2121, which is in Phase I development for relapsed/refractory multiple myeloma. Bluebird and Celgene are also working together on a second clinical-stage anti-BCMA CAR-T candidate called bb21217.

Regeneron has been separately collaborating with the private US biotech Adicet Bio since 2016 to develop next-generation fully human chimeric antigen receptors and T-cell receptors directed to disease-specific cell surface antigens.

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