24/7 Market News Snapshot 06 Aug 2024 – Sangamo Therapeutics, Inc. Common Stock (NASDAQ: SGMO)

August 6, 2024 7:14

Press Release

DENVER, Colo., 06 August, 2024 (247marketnews.com) – (Nasdaq:SGMO) are discussed in this article.
Sangamo Therapeutics, Inc. is exhibiting a robust bullish trend in the pre-market session, currently trading at $1.001, a remarkable 31.79% surge from the previous session’s close of $0.768. This momentum, bolstered by a substantial trading volume of 3.9 million, indicates strong market confidence and investor interest in the biotech firm. Technical indicators suggest that SGMO is poised for continued upward movement, making it a standout player in today’s market landscape.

In a significant strategic move, Sangamo has entered a pioneering license agreement with Genentech, a member of the Roche Group, to develop intravenously administered genomic medicines targeting neurodegenerative diseases. This collaboration aims to leverage Sangamo’s proprietary zinc finger epigenetic regulation and advanced capsid delivery technologies. Under the terms of the agreement, Sangamo will receive an initial $50 million in upfront license fees and near-term milestone payments, with the potential to earn up to $1.9 billion in development and commercial milestone payments across various medicines, along with tiered royalties on net sales.

The agreement grants Genentech an exclusive license to Sangamo’s zinc finger repressors, targeting the tau gene, which is crucial in Alzheimer’s disease and other tauopathies, and an undisclosed neurology target. The partnership also includes exclusivity for Sangamo’s innovative neurotropic adeno-associated virus (AAV) capsid, STAC-BBB, known for its ability to efficiently penetrate the blood-brain barrier.

Sandy Macrae, CEO of Sangamo, stated that the company is at the forefront of genomic medicine, aiming to provide solutions for neurodegenerative diseases with limited treatment options. Collaborating with Genentech allows them to leverage their cutting-edge STAC-BBB capsid to address the challenges in CNS therapeutic delivery. Boris L. Zaïtra, Head of Roche Corporate Business Development, emphasized that the collaboration aims to pioneer transformative approaches in gene therapy, emphasizing early diagnosis and treatment in significant areas of medical need.

Sangamo will complete the required technology transfer and certain preclinical tasks, while Genentech will handle clinical development, regulatory affairs, manufacturing, and global commercialization efforts. The partnership underscores a commitment to bringing forward new treatment possibilities for debilitating neurodegenerative conditions.

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