Once high-flying Bluebird Bio sells itself to private equity after tough times for the gene therapy maker
1. Bluebird Bio to sell for $30M to private equity. Shareholders receive $3/share plus potential contingent payout. 2. The sale follows a 40% share price plunge. It marks a dramatic reversal from a former $9B market cap. 3. Significant scientific setbacks and pricing backlash triggered financial distress. The company split its cancer work into 2Seventy Bio. 4. Regulatory and market challenges persist. Gene therapies struggled to generate sustainable revenue.