Sangamo Therapeutics IncSangamo files for Chapter 11 bankruptcy and sells substantially all assets.
Sangamo Therapeutics has entered into two separate asset sale agreements with Eli Lilly and Astellas Pharma and simultaneously filed for voluntary Chapter 11 reorganization. Lilly will serve as stalking horse bidder for Sangamo's capsid delivery platform, zinc finger platform, modular integrase platform, and the prion disease program ST-506, while Astellas will serve as stalking horse bidder for the Fabry disease program isaralgagene civaparvovec, or ST-920. The court-supervised auction process is expected to include substantially all of Sangamo's assets, with certain other assets such as the ST-503 chronic neuropathic pain program and hemophilia A program giroctocogene fitelparvovec remaining available to interested bidders. Sangamo has secured a debtor-in-possession financing commitment from Northridge ATM, LLC to support ongoing operations during the proceedings. The company aims to maximize value for all stakeholders through the Chapter 11 process.
Sangamo Therapeutics IncSangamo files for Chapter 11 bankruptcy and sells substantially all assets.
Astellas acquires Sangamo's Fabry disease program via stalking horse bid.
Eli Lilly and CompanyLilly acquires Sangamo's capsid delivery platform and other assets at potentially favorable terms via stalking horse bid.