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Splitting Bluebird Bio into two publicly traded companies — one focused on cell therapies for cancer, the other on gene therapy for inherited diseases — is the best fix for the biotech’s recent struggles, CEO Nick Leschly told investors on Monday.

“Two birds are better than one,” said Leschly, speaking on a conference call in which he explained that dividing Bluebird into two companies “creates flexibility for each business,” “sharpens their focus,” and allows for “operational simplicity.”

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