2seventy bio (TSVT) has released an update to notify the public and investors about an entry into a material definitive agreement.
2seventy bio, Inc. has entered into an agreement to sell its oncology and autoimmune research programs, along with related assets and technologies, to Regeneron Pharmaceuticals, Inc. Regeneron will pay $5 million upfront and take on certain liabilities, with additional payments including a $10 million milestone and royalties on future sales. Following customary closing conditions, the deal also involves the termination of a prior collaboration agreement and the entry into ancillary agreements such as a transition services agreement and facility subleases.
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For a comprehensive understanding of the announcement, you can read the full document here.
