Biotech Co. Partners With Life Sciences Firms
January 12, 2022 (Investorideas.com Newswire) 2seventy entered agreements with Novo Nordisk and Genevant to get an in vivo gene editing treatment for hemophilia A developed, noted a Wedbush report.
Immuno-oncology cell therapy company, 2seventy bio inc. (TSVT:NASDAQ), entered into two recent agreements with the ultimate goal of developing a way to deliver megaTAL messenger RNA (mRNA) products to treat hemophilia, reported Wedbush analyst David Nierengarten in a Jan. 6 research note.
"We view these partnerships as validation of 2seventy's gene editing technology that can potentially be used to treat severe genetic diseases," the analyst wrote.
As for its expanded agreement with Novo Nordisk, 2seventy grants Novo the exclusive option to license 2seventy's mRNA-based megaTAL technology, Nierengarten relayed. Along with the upfront payment, Novo may receive near-term milestone and option exercise payments up to $35 million, payment upon certain development, regulatory and commercial milestones and royalty payments on future net sales. Novo will cover all research and development costs.
Concerning its deal with Genevant, noted Nierengarten, in addition to the payments up to $10 million, 2seventy is responsible for making to Genevant development and commercialization milestone payments as well as royalty payments on future product sales.
Nierengarten pointed out that 2seventy's shares are currently undervalued, in light of the company's pipeline targeting numerous oncological indications and the robust sales expectations for ABECMA.
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Disclosures for Wedbush Securities, 2seventy bio Inc., Jan. 6, 2022
Wedbush Securities does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see pages 2-3 of this report for analyst certification and important disclosure information.
Analyst Certification: We, David Nierengarten and Dennis Pak, certify that the views expressed in this report accurately reflect our personal opinions and that we have not and will not, directly or indirectly, receive compensation or other payments in connection with our specific recommendations or views contained in this report. The analysts responsible for preparing research reports do not receive compensation based on specific investment banking activity. The analysts receive compensation that is based upon various factors including WS' total revenues, a portion of which are generated by WS' investment banking activities. Company Specific Disclosures: 1. WS makes a market in the securities of 2SEVENTY BIO INC.
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