A significant corporate transformation has been finalized, marking a new chapter for the former bluebird bio. The company now operates as Genetix Biotherapeutics Inc., a privately-held entity, a change that became official on September 18, 2025. This strategic rebranding and shift in ownership structure follows the completion of an acquisition by investment firms Carlyle and SK Capital Partners in June 2025, which also precipitated the delisting of the company’s common stock from public markets.
Financial Pressures Prompt Strategic Pivot
The move to private ownership concludes a period of substantial financial challenges for the company. For the fiscal year ended December 31, 2024, Genetix Biotherapeutics reported a net loss of $240.7 million. The financial strain was further highlighted by second-quarter 2024 revenues, which amounted to a modest $16.1 million. These figures underscored the critical need for an infusion of new capital and a fundamental revision of the company’s operational strategy, ultimately leading to the acquisition.
New Leadership to Drive Commercialization
Concurrent with the change in ownership in June 2025, a completely new executive team was appointed to lead the company. David Meek, the former Chief Executive Officer of Mirati Therapeutics and Ipsen, has taken the helm as CEO. He is supported by a seasoned leadership group including Tom Klima as Chief Commercial & Operating Officer, Wendy DiCicco as Chief Financial Officer, and Debasish Roychowdhury as Chief Medical Officer. This team’s primary mandate is to accelerate the commercial rollout of the company’s three approved gene therapies.
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The company’s strategic focus is now squarely on the commercialization of its trio of FDA-approved treatments: LYFGENIA™ for sickle cell disease, ZYNTEGLO™ for beta-thalassemia, and SKYSONA® for cerebral adrenoleukodystrophy. However, the launch of SKYSONA® is complicated by an FDA warning issued in connection with an October 2024 study. The regulatory notice points to a potentially increased risk of blood cancer, a concern raised by the identification of seven cancer cases among clinical trial participants.
Under its new private structure and the Genetix Biotherapeutics name, the company aims to achieve a turnaround. The acquiring firms have committed to providing a “strengthened capital structure” and a “sharpened focus” on both commercial success and patient access to these advanced therapies. Key priorities include scaling up manufacturing capabilities and forging stronger collaborations with treatment centers worldwide.
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