PTC Therapeutics has emerged as the winning bidder for Sangamo Therapeutics’ Fabry disease gene therapy program, isaralgagene civaparvovec (ST-920), in a bankruptcy auction, paying $111 million upfront and up to $100 million in potential milestone payments tied to FDA approval.
Eli Lilly simultaneously agreed to purchase Sangamo’s capsid delivery, zinc finger, and modular integrase (MINT) platforms as well as its prion disease program, ST-506, for $50 million in cash.
The total proceeds from the auction for Sangamo are about $163.55 million in cash at closing, plus up to $100 million in future milestones, pending final U.S. Bankruptcy Court approval.
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