ARTICLE | Company News

Sangamo, Gilead in cell therapy gene editing deal

February 22, 2018 11:07 PM UTC

Sangamo Therapeutics Inc. (NASDAQ:SGMO) gained $3.20 (14%) to $25.40 on Thursday after partnering with the Kite Pharma Inc. subsidiary of Gilead Sciences Inc. (NASDAQ:GILD) to use Sangamo's zinc finger nuclease (ZFN) and adeno-associated virus (AAV) technology to develop next-generation autologous and allogeneic cell therapies to treat cancer.

Sangamo will receive $150 million up front, and is eligible to receive $3 billion in milestones for 10 or more products utilizing Sangamo’s technology, including $1.3 billion in clinical and first-sale milestones and $1.8 billion in commercial milestones. The gene editing company is also eligible for escalating, tiered single-digit royalties...