Sangamo Therapeutics (NASDAQ:SGMO) is up 39.4% after hours following the signing of a gene therapy deal with Biogen (NASDAQ:BIIB).
The two have agreed on broad collaboration for
gene therapies in neurology, with an initial focus on ST-501 for
tauopathies including Alzheimer’s disease, ST-502 for synucleinopathies
including Parkinson’s disease, and a neuromuscular target.
The deal also has exclusive rights for nine additional, undisclosed neurological targets.
Biogen will pay Sangamo $350M up front, including
license fees and equity investment in Sangamo stock, and Sangamo is
eligible to get up to $2.37B in potential milestones along with
royalties on potential commercial sales.
https://seekingalpha.com/news/3546882-sangamoplus-39-on-gene-therapy-deal-biogen
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