Featured Company News – Bluebird Bio Declares Treatment of 1st Patient with 2nd Anti-BCMA CAR T bb21217 in CRB-402 Phase-1 Study

LONDON, UK / ACCESSWIRE / October 2, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Bluebird Bio, Inc. (NASDAQ: BLUE), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=BLUE. The Company, which is a clinical-stage Company that works to develop potentially transformative gene therapies for serious genetic diseases and T-cell based immunotherapies for cancer, announced on September 28, 2017, the treatment of the first patient with relapsed/refractory multiple myeloma in a Phase-1 study of bb21217. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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About bb21217

bb21217 is an investigational chimeric antigen receptor T-cell (CAR T) therapy that targets B-cell maturation antigen (BCMA). Currently, Bluebird Bio is producing bb21217 in collaboration with Celgene Corp.

Both bb2121 and bb21217 are investigational therapies, which have not been approved by any regulatory agency as of now. This implies that their safety and efficacy have not yet been established.

About The CRB-402 Study

The primary motive of the CRB-402 study is to evaluate the maximum tolerated dose of bb21217 as well as to finalize the recommended Phase-2 dose.
The secondary objective is preliminary efficacy data, computed using the International Myeloma Working Group (IMWG) Response Criteria for Multiple Myeloma.
The first part of the study comprises a dose-escalation phase in which cohorts of patients will receive increasing doses of bb21217 to determine the maximum tolerated dose and determine a recommended Phase-2 dose.
On the other hand, the second portion of the study is a dose expansion phase wherein patients will receive bb21217 to further assess the safety, tolerability, and clinical activity at the recommended Phase-2 dose.

A Step Towards Treating Multiple Myeloma

Philip Gregory, Chief Scientific Officer at Bluebird Bio, highlighted that bb21217, Bluebird Bio’s second oncology program to enter the clinic, complements bb2121, which showed reassuring safety and efficacy results in an ongoing Phase-1 trial. He shared that the Company manufactures a CAR T cell product enriched for memory T-cell, with the help of bb21217. Memory T-cell is a long-lived, more potent T-cell subtype which has proved to be preclinical in vivo studies. More importantly, it has demonstrated improved anti-tumor activity.

It is well known that multiple myeloma is an aggressive and historically incurable cancer. But so far, the clinical data from the bb2121 program has indicated deep and durable responses. Bluebird Bio’s collaboration with Celgene would help it bring forward the second program, highlighting its commitment towards exploring all opportunities for delivering advanced therapies for patients.

Collaboration With Celgene To Deliver Meaningful Therapies

The Bluebird Bio and Celgene collaboration mainly emphasizes on developing product candidates targeting BCMA for the treatment of patients with multiple myeloma.

Rupert Vessey, EVP and President, Global Research & Early Development, Celgene, also shared his views regarding the issue. He highlighted that the progression of bb21217 into the clinic builds on the success of Celgene’s first-generation program. The development is, in fact, a testimony to Bluebird Bio and Celgene’s combined leadership in the field of anti-BCMA CAR T therapies. Vessey stated that he looked forward to a continuing partnership with Bluebird Bio to realize the full potential of anti-BCMA CAR T therapies for patients living with historically incurable cancers.

Celgene Exercised Its Option to License bb21217

Bluebird Bio also revealed that Celgene has exercised its option to exclusively license bb21217, an option under the terms of the collaboration agreement between the Companies.
Upon exercising this exclusive option, Celgene would be completely responsible for the worldwide development and commercialization of bb21217 after Phase-1.
Besides, Bluebird Bio would be responsible for the development of bb21217 through the completion of the CRB-402 Phase-1 study. Bluebird Bio has an option to share in the development, promotion, and profits in the United States.
Furthermore, Bluebird Bio is eligible for receiving specified development, regulatory, and commercial milestone payments and royalty payments on net sales. The Company would also receive an option exercise payment of nearly $15 million from Celgene.

Last Close Stock Review

Bluebird Bio’s share price finished last Friday’s trading session at $137.35, declining 2.69%. A total volume of 1.21 million shares have exchanged hands, which was higher than the 3-month average volume of 837.47 thousand shares. The Company’s stock price soared 30.75% in the last three months, 51.10% in the past six months, and 106.82% in the previous twelve months. Additionally, the stock skyrocketed 122.61% since the start of the year. The stock currently has a market cap of $6.43 billion.

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