2seventy bio is a cell therapy company whose business consists entirely of Abecma (ide-cel), a CAR T cell therapy for multiple myeloma co-commercialized with Bristol-Myers Squibb exclusively in the U.S. Abecma is an autologous CAR T therapy — manufactured from each patient's own T cells and engineered to target BCMA, a protein expressed on myeloma cells — administered as a one-time infusion. Abecma is approved for patients who have received two or more prior lines of therapy, a label expansion in April 2024 that meaningfully enlarged the addressable patient population. 2seventy bio splits all U.S. Abecma profits and losses 50/50 with BMS, recording its net share as collaborative arrangement revenue each quarter. BMS leads commercialization and handles all manufacturing; 2seventy bio plays a supporting role in physician education and performs quality control testing. The business carries high fixed manufacturing costs, making revenue scale the primary driver of profitability. 2seventy bio's cost structure shrank sharply in 2024 after the company sold its R&D pipeline to Regeneron and its hemophilia A program to Novo Nordisk, leaving it with roughly 70 employees. In March 2025, BMS announced its intention to acquire 2seventy bio outright for $5.00 per share in cash, which would make 2seventy bio a wholly owned BMS subsidiary.