ARTICLE | Deals
Sangamo’s latest deal brings in Novartis, includes autism
July 31, 2020 2:20 AM UTC
In its second neurology-focused deal of the year, and sixth with a large biopharma, Sangamo has partnered with Novartis to turn its zinc finger gene modulation technology toward neurodevelopmental disorders, such as autism and intellectual disabilities. The deal sent shares of the biotech up $1.44 (15%) to $11.34, pushing its market cap over $1.5 billion.
Novartis AG (NYSE:NVS; SIX:NOVN) has exclusive rights under the three-year deal to the biotech’s zinc finger protein transcription factors (ZFP-TFs) targeted to three undisclosed genes. The pharma also has an option to license adeno-associated virus delivery technology from Sangamo Therapeutics Inc. (NASDAQ:SGMO)...