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Sangamo closes gene therapy deal with Biogen; shares up 5% premarket

Apr. 09, 2020 8:20 AM ETBiogen Inc. (BIIB), SGMOBy: SA News Team8 Comments
  • Sangamo Therapeutics (NASDAQ:SGMO) has closed its sale of stock to Biogen (NASDAQ:BIIB). The company's global licensing collaboration with Biogen for gene regulation therapies in neurology is also now effective.
  • Under the terms of agreement, Sangamo has received $225M in stock proceeds and will receive an upfront license fee of $125M no later than May 8.
  • Additionally, SGMO is eligible to earn up to $2.37B in milestone payments and tiered royalties in high-single digits to sub-teen double digits.
  • SGMO shares are up 5% premarket.

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