Bluebird Bio Inc. ($BLUE) announced its new strategic collaboration with Apceth Biopharma GmhH. The agreement deals with the future European commercial production of bluebird's Lenti-D product candidate for cerebral adrenoleukodystropy. It also deals with LentiGlobin product candidate for transfusion-dependent β-thalassemia.
The multi-year stipulates for Apceth Biopharma to perform clinical manufacturing and carry out process validation activities. The company will also carry out commercial manufacturing for both LentiGlobin and Lenti-D.
Nick Leschly, chief of Bluebird said, “We are committed to investing in the capabilities and infrastructure necessary to support commercialization both in the U.S. and Europe.”
Bluebird company stock has shown strong spurt in its price. The stock grew over 75% in the past six months. The company has also taken a number of steps to boost its positon in the market. Bluebird recently reported positive interim data for its Multiple Myeloma trials. The data showed that patients achieved an overall response rate (ORR) of 78%, while those in the higher dosing cohorts achieved an ORR of 100%.
Bluebird also priced its common stock offering of $250 million. The offer price has been set at $76 apiece, before underwriting discounts. Earlier this year, the company inked a deal with German biotech firm Medigene for developing and commercializing T-cell receptor immunotherapies against four targets. The stock is expected to get a boost from these developments.