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Covington Represents BMS in its Acquisition of 2seventy bio

Press Release March 10, 2025

WASHINGTON—Covington advised Bristol Myers Squibb in its merger agreement to acquire acquire all of the outstanding shares of 2seventy bio for $5.00 per share in an all-cash transaction.

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.

Since entering into an agreement in 2013, 2seventy bio and Bristol Myers Squibb have been collaborating to develop CAR T cell therapies targeting B cell maturation antigen, including ABECMA. ABECMA is a B-cell maturation antigen (BCMA)-directed genetically modified autologous T cell immunotherapy indicated for the treatment of adult patients with relapsed or refractory multiple myeloma after two or more prior lines of therapy including an immunomodulatory agent, a proteasome inhibitor, and an anti-CD38 monoclonal antibody.

The Covington team included Catherine Dargan, Drew Fischer, Kyle Rabe, and Ingrid Rechtin (M&A), Megan Woodford and Brady McDaniel (benefits), Winsome Cheung (licensing/collaboration), Natalie Derzko and Marie Lavalleye (intellectual property), and Mike Labson and Michael Stern (regulatory).

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