RTTNews | Sep 8, 2021 09:01AM EDT

09:00 Wednesday, September 8, 2021 (RTTNews.com) - bluebird bio Inc. (BLUE) said Wednesday that it has reached an agreement for a $75 million private placement of common stock and common stock equivalents with a healthcare investment fund selected as part of a competitive process.

bluebird bio noted that proceeds from the financing will support ongoing R&D and commercialization investments for bluebird bio and for 2seventy bio. The closing of the private placement is expected to occur in September 2021.

bluebird plans to complete the spin-off of 2seventy in October 2021.

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