(Reuters) - Gene therapy maker Bluebird bio said on Friday it would be taken private by Carlyle and SK Capital Partners, ending its tumultuous journey in the public markets as it struggled with a severe cash crunch.

Bluebird bio, which raised going concern doubts for the first time three years ago, laid off about 25% of its workforce in 2024 to support the launch of some of its gene therapies, including a closely watched treatment for sickle cell disease.

Under the latest agreement, bluebird stockholders will receive $3 per share in cash, implying an equity value of $29.16 million. The investment firms have also offered an additional $6.84 per share, contingent upon achieving certain sales milestones, which represents a payment of about $66.48 million.

(Reporting by Sneha S K; Editing by Shinjini Ganguli)