PTC Therapeutics has struck a deal to buy Sangamo Therapeutics’ Fabry disease program for $111 million upfront, outbidding Astellas and TerSera Therapeutics for the near-approval gene therapy. Sangamo, selling assets as part of its bankruptcy proceedings, also offloaded technology to Eli Lilly for $50 million. Sangamo named Astellas as the stalking horse bidder for its Fabry disease program, ST-920, in June. PTC landed the Fabry gene therapy for $111 million in upfront cash and up to $100 million in milestones. Each figure is at least four times the stalking horse price Sangamo agreed with Astellas.
Read the full article: PTC’s $211M Bid Wins Sangamo Auction, Teeing up ‘Special Opportunity’ to Enter Fabry Market //
Source: https://www.fiercebiotech.com/biotech/ptcs-211m-bid-wins-sangamo-auction-teeing-special-opportunity-enter-fabry-market