bluebird sold to private equity firms Carlyle and SK Capital

bluebird bio has entered into a definitive agreement to be acquired by global investment firms Carlyle and SK Capital Partners, at a price of $3 per share.

Carlyle and SK Capital will provide bluebird primary capital to scale bluebird’s commercial delivery of gene therapies for patients with sickle cell disease, β-thalassemia, and cerebral adrenoleukodystrophy.

Per the deal, bluebird stockholders will receive $3.00 per share in cash and a contingent value right of $6.84 per share — bringing the potential total value up to $9.84 per share — if any of bluebird’s three approved gene therapies achieves $600 million in net sales over any 12-month period by December 31, 2027.

The biotech has been cash-strapped for some time, with financial issues stemming from the complex supply chain and lack of commercial success of its three gene therapies — Lyfgenia, Skysona and Zynteglo. In a 2023 SEC filing, bluebird had warned that there was “substantial doubt regarding our ability to continue as a going concern.” The following year, the company laid off 25% of its staff in a restructuring effort.