Press Release July 30, 2012

Goodwin Procter Advises bluebird bio on Latest Round of Fundraising

A team of attorneys from Goodwin Procter’s Life Sciences practice advised client bluebird bio, Inc. on a $60 million Series D preferred stock financing which closed July 23.

Existing investors ARCH Venture Partners, Third Rock Ventures, TVM Capital and Forbion Capital Partners were joined by new investors Deerfield Partners, RA Capital, Ramius LLC and others in the financing round, which was announced July 25.  Shire plc also joined in the round as a new strategic investor.

“We were very pleased to help bluebird bio close this transaction,”  said Goodwin partner Michael Bison, who has represented bluebird bio since 2010.  “This capital, raised in significant part from leading biotech investors that traditionally invest in public companies, will allow bluebird to advance its late-stage clinical programs in a significant way.  We look forward to working with bluebird as they continue to advance this game-changing technology that has the potential to address critical unmet needs in genetic disorders.”

bluebird bio is a leader in the development of innovative gene therapies for severe genetic disorders, including childhood cerebral adrenoleukodystrophy (ALD), beta-thalassemia and sickle cell disease.  bluebird bio’s gene therapy platform holds the promise of treatments for diseases with few or no clinical options.

The company’s novel approach uses stem cells harvested from the patient’s own bone marrow into which a healthy version of the disease-causing gene is inserted. bluebird bio’s approach eliminates potential complications associated with donor cell transplantation, potentially presenting a one-time transformative therapy using a patient’s own stem cells.

The core team for this transaction included Michael Bison and Gregg Katz.