Sangamo to Sell Most Assets in Bankruptcy, Lilly and Astellas Lead Bids
Sangamo Therapeutics has filed for bankruptcy and will pursue a sale of substantially all its assets. Eli Lilly and Astellas are named as stalking-horse bidders, with Lilly set to acquire Sangamo’s capsid delivery platform, zinc finger platform, Modular Integrase (MINT) platform, and the ST-506 prion disease program, while Astellas aims to buy the Fabry disease asset isaralgagene civaparvovec. Other assets, including ST-503 for chronic neuropathic pain, giroctocogene fitelparvovec for hemophilia A, and the cell therapy/Treg assets, are not included in these initial bids. Sangamo has faced years of cash strain, Pfizer exiting a key collaboration, and its stock has fallen dramatically, prompting the asset-sale process to maximize value for creditors and stakeholders.