Latest news with #DavidMeek
Business Wire
4 days ago
- Business
- Business Wire
bluebird bio Announces Completion of Acquisition by Carlyle and SK Capital
SOMERVILLE, Mass.--(BUSINESS WIRE)--bluebird bio (NASDAQ: BLUE) ('bluebird'), a pioneer in gene therapies for severe genetic diseases, today announced the completion of its sale to funds managed by global investment firms Carlyle (NASDAQ: CG) and SK Capital Partners, LP ('SK Capital'). With the closing of the transaction, bluebird's common stock has ceased trading and will no longer be publicly listed. Carlyle and SK Capital have provided significant primary capital to support and scale bluebird's commercial delivery of gene therapies for patients with sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy. David Meek, who became Chief Executive Officer of bluebird at close, said, 'Today marks the beginning of a new era for bluebird as its go-forward financial backing and leadership team will better enable all stakeholders to realize the full potential of our revolutionary therapies. Historically, bluebird has excelled as a scientific innovator and should be very proud of the many achievements it has delivered to patients. Our vision is to further that legacy of scientific excellence while improving the commercial execution of our approved products to rapidly expand access to lifechanging gene therapies.' 'We are excited to back bluebird in partnership with SK Capital. We believe providing bluebird the necessary funding along with the new leadership team will help bluebird realize its full potential,' said Joe Bress, Carlyle Partner and Global Co-Head of Healthcare. Bali Muralidhar, Co-Managing Partner and Chief Investment Officer & COO of Abingworth, Carlyle's life sciences investment franchise, added, 'There is an incredible opportunity to bring bluebird's groundbreaking therapies to more patients in need, and we look forward to advancing bluebird in its mission.' 'SK Capital looks forward to partnering with David and his team as well as Carlyle to scale bluebird's pioneering gene therapies that can make a lifechanging difference for patients around the world,' said Aaron Davenport, Managing Director at SK Capital, adding, 'We believe our deep collective experience in manufacturing and commercializing therapies can help drive the next chapter of bluebird's growth.' Incoming Team Bolsters Commercial Gene Therapy Experience The company's momentum is reinforced by a deeply experienced management team, led by CEO David Meek. David brings more than 30 years of leadership in life sciences, including as CEO of Mirati Therapeutics and Ipsen. David is joined by Tom Klima as Chief Commercial & Operating Officer, Debasish Roychowdhury, M.D., as Chief Medical Officer, Wendy DiCicco as Chief Financial Officer, and Ellen Forest as Chief People Officer. Additional details are available at From Scientific Breakthroughs to Delivery at Scale With the transaction now closed, bluebird is prioritizing expanding its manufacturing infrastructure, streamlining the patient journey, supporting treatment centers, and strengthening its payer partnerships. The acquisition provides the strategic and financial backing needed to meet rising demand and drive commercial and operational excellence across the organization. 'bluebird has demonstrated what's possible through effective gene therapy,' David added. 'Now we will build the ecosystem to ensure every patient who needs these therapies can access them.' About bluebird bio bluebird bio is a commercial-stage biotherapeutics company focused on developing and delivering gene therapies for severe genetic diseases. With more than a decade of scientific leadership in gene therapy and three FDA-approved therapies for sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy, the company is committed to ensuring access, reliability, and patient-centered care. bluebird is headquartered in Somerville, Massachusetts. About Carlyle Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group. About SK Capital SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital currently has approximately $10 billion in assets under management as of December 31, 2024. For more information, please visit Forward Looking Statement This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current expectations and projections about bluebird's future goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond bluebird's control and could cause bluebird's future goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect bluebird bio's business, particularly those identified in the risk factors discussion in bluebird bio's Annual Report on Form 10-K for the year ended December 31, 2024, as updated by its subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC. These risks and uncertainties include, but are not limited to: the risk that the efficacy and safety results from bluebird's prior and ongoing clinical trials will not continue or be seen in the commercial context; the risk that there is not sufficient patient demand or payer reimbursement to support continued commercialization of bluebird's products; the risk of insertional oncogenic or other safety events associated with lentiviral vector, drug product, or myeloablation, including the risk of hematologic malignancy; and the risk that bluebird's products will not be successfully commercialized. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, bluebird bio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.
Associated Press
4 days ago
- Business
- Associated Press
bluebird bio Announces Completion of Acquisition by Carlyle and SK Capital
SOMERVILLE, Mass.--(BUSINESS WIRE)--Jun 2, 2025-- bluebird bio (NASDAQ: BLUE) ('bluebird'), a pioneer in gene therapies for severe genetic diseases, today announced the completion of its sale to funds managed by global investment firms Carlyle (NASDAQ: CG) and SK Capital Partners, LP ('SK Capital'). With the closing of the transaction, bluebird's common stock has ceased trading and will no longer be publicly listed. Carlyle and SK Capital have provided significant primary capital to support and scale bluebird's commercial delivery of gene therapies for patients with sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy. David Meek, who became Chief Executive Officer of bluebird at close, said, 'Today marks the beginning of a new era for bluebird as its go-forward financial backing and leadership team will better enable all stakeholders to realize the full potential of our revolutionary therapies. Historically, bluebird has excelled as a scientific innovator and should be very proud of the many achievements it has delivered to patients. Our vision is to further that legacy of scientific excellence while improving the commercial execution of our approved products to rapidly expand access to lifechanging gene therapies.' 'We are excited to back bluebird in partnership with SK Capital. We believe providing bluebird the necessary funding along with the new leadership team will help bluebird realize its full potential,' said Joe Bress, Carlyle Partner and Global Co-Head of Healthcare. Bali Muralidhar, Co-Managing Partner and Chief Investment Officer & COO of Abingworth, Carlyle's life sciences investment franchise, added, 'There is an incredible opportunity to bring bluebird's groundbreaking therapies to more patients in need, and we look forward to advancing bluebird in its mission.' 'SK Capital looks forward to partnering with David and his team as well as Carlyle to scale bluebird's pioneering gene therapies that can make a lifechanging difference for patients around the world,' said Aaron Davenport, Managing Director at SK Capital, adding, 'We believe our deep collective experience in manufacturing and commercializing therapies can help drive the next chapter of bluebird's growth.' Incoming Team Bolsters Commercial Gene Therapy Experience The company's momentum is reinforced by a deeply experienced management team, led by CEO David Meek. David brings more than 30 years of leadership in life sciences, including as CEO of Mirati Therapeutics and Ipsen. David is joined by Tom Klima as Chief Commercial & Operating Officer, Debasish Roychowdhury, M.D., as Chief Medical Officer, Wendy DiCicco as Chief Financial Officer, and Ellen Forest as Chief People Officer. Additional details are available at From Scientific Breakthroughs to Delivery at Scale With the transaction now closed, bluebird is prioritizing expanding its manufacturing infrastructure, streamlining the patient journey, supporting treatment centers, and strengthening its payer partnerships. The acquisition provides the strategic and financial backing needed to meet rising demand and drive commercial and operational excellence across the organization. 'bluebird has demonstrated what's possible through effective gene therapy,' David added. 'Now we will build the ecosystem to ensure every patient who needs these therapies can access them.' About bluebird bio bluebird bio is a commercial-stage biotherapeutics company focused on developing and delivering gene therapies for severe genetic diseases. With more than a decade of scientific leadership in gene therapy and three FDA-approved therapies for sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy, the company is committed to ensuring access, reliability, and patient-centered care. bluebird is headquartered in Somerville, Massachusetts. About Carlyle Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group. About SK Capital SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital currently has approximately $10 billion in assets under management as of December 31, 2024. For more information, please visit Forward Looking Statement This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current expectations and projections about bluebird's future goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond bluebird's control and could cause bluebird's future goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect bluebird bio's business, particularly those identified in the risk factors discussion in bluebird bio's Annual Report on Form 10-K for the year ended December 31, 2024, as updated by its subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC. These risks and uncertainties include, but are not limited to: the risk that the efficacy and safety results from bluebird's prior and ongoing clinical trials will not continue or be seen in the commercial context; the risk that there is not sufficient patient demand or payer reimbursement to support continued commercialization of bluebird's products; the risk of insertional oncogenic or other safety events associated with lentiviral vector, drug product, or myeloablation, including the risk of hematologic malignancy; and the risk that bluebird's products will not be successfully commercialized. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, bluebird bio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise. View source version on CONTACT: Bluebird Courtney O'Leary +1 (978) 621-7347 [email protected] Brittany Berliner +1 (212) 813-4839 [email protected] Capital Ben Dillon +1 (646) 278-1353 [email protected] KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL GENETICS HEALTH SOURCE: bluebird bio Copyright Business Wire 2025. PUB: 06/02/2025 08:34 AM/DISC: 06/02/2025 08:33 AM
Yahoo
21-02-2025
- Business
- Yahoo
What's Going On With Gene Therapy Company Bluebird Bio Stock Today?
Bluebird Bio, Inc. (NASDAQ:BLUE), on Friday, entered into a definitive agreement to be acquired by global investment firms Carlyle Group Inc. (NASDAQ:CG) and . The agreement, which also includes a team of biotech executives, will see Bluebird Bio's stockholders receive $3.00 per share in cash, along with a contingent value right, which could potentially bring the total payout to up to $9.84 per share, depending on the product portfolio performance. The acquisition will provide Bluebird Bio with capital to scale its commercial delivery of gene therapies for patients suffering from sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy. Following the acquisition's completion, former Mirati Therapeutics CEO David Meek is expected to take over as Bluebird Bio's new CEO. This strategic acquisition comes after Bluebird Bio's financial struggles, including the denial of a priority review voucher by the FDA and mounting challenges that could have led to a loan default. This strategic acquisition comes after Bluebird Bio's challenges, including the denial of a priority review voucher by the FDA and mounting financial issues that could have led to a loan default. Also Read: The deal is anticipated to close in the first half of 2025, subject to regulatory approvals and customary closing conditions. 'For more than a decade, bluebird has been at the forefront of gene therapy, delivering groundbreaking treatments to patients facing life-threatening genetic diseases,' said Andrew Obenshain, current CEO of Bluebird Bio. 'However, as our financial challenges mounted, it became clear that securing the right strategic partner was critical to maximizing value for our stockholders and ensuring the long-term future of our therapies.' Upon completion of the deal, bluebird will become a privately held company, and its shares will no longer be publicly traded. In addition, Bluebird Bio has entered into amendments to its loan agreement with Hercules Capital to facilitate adequate liquidity to position it to maintain operations through the closing. Price Action: BLUE shares traded lower by 37.5% to $4.40 premarket at last check Friday. Read Next:Photo via Shutterstock. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? BLUEBIRD BIO (BLUE): Free Stock Analysis Report This article What's Going On With Gene Therapy Company Bluebird Bio Stock Today? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
