STAT+: Bluebird Bio sells itself to Carlyle, SK Capital for less than $30 million
Bluebird Bio announced it would sell itself and its portfolio of gene therapies to the investment firms Carlyle and SK Capital for less than $30 million.
Bluebird Bio announced Friday it would sell itself and its portfolio of gene therapies to the investment firms Carlyle and SK Capital for less than $30 million, in a deal that lets the beleaguered biotech avoid bankruptcy.
Bluebird shareholders will receive around $3 per share but can obtain another $6.87 per share in a contingent value right, or CVR, if Bluebird’s portfolio of therapies start to become commercially successful, bringing in at least $600 million per year by 2027.
The company had entered Friday with a market cap of $68.4 million and was increasingly in danger of simply running out of cash.
