Bluebird bio has opted to proceed with its sale to Carlyle and SK Capital, agreeing to a price of $3 per share along with a contingent payment of $6.84 per share, despite receiving a more lucrative rival offer.

This commitment to the Carlyle and SK Capital deal was reaffirmed after a two-week confirmatory diligence period with Ayrmid.

The alternative offer from Ayrmid was valued at $4.50 per share, but they did not submit a binding proposal or secure financing after a three-week engagement.

The initial deal with Carlyle and SK Capital was announced on February 21, 2025, and is valued at approximately $29 million.

In the past year, Bluebird secured $175 million in debt financing and initiated a restructuring plan to extend its financial runway.

As of December 31, 2024, Bluebird's accumulated deficit reached $4.5 billion, with losses of $240 million reported for the previous year.

Despite receiving multiple FDA approvals for its gene therapies, Bluebird has struggled with market sustainability.

The company's FDA-approved therapies include Zynteglo for beta thalassemia, Skysona for certain cerebral adrenoleukodystrophy patients, and Lyfgenia for sickle cell disease patients.

However, Bluebird generated only $10.6 million in revenue during the third quarter of last year, with expectations of $25 million for the final quarter.

Carlyle and SK Capital plan to support Bluebird's future by appointing David Meek as CEO post-acquisition, who aims to unlock the potential of Bluebird's therapies.