JPM: Bluebird to spin off cancer therapies into new company

Bluebird bio is planning to spin off its oncology assets into a new publicly traded company. The move follows a series of operational missteps that have delayed patient access to once-hyped therapies.

Today, bluebird’s pipeline features treatments for severe genetic diseases such as beta thalassemia and sickle cell disease alongside oncology prospects led by Bristol Myers Squibb-partnered BCMA CAR T-cell therapy bb2121. Both sides of the pipeline have suffered big setbacks, with manufacturing issues delaying U.S. filings for approval of genetic disease drugs and the FDA hitting the CAR-T with a refuse to file letter.