3:49 PM
Jul 23, 2018
 |  BC Extra  |  Company News

Sangamo acquiring TxCell, accelerates CAR Treg development

Editor's Note: This article was updated on Jul 24, 2018 at 12:06 PM PDT

Sangamo Therapeutics Inc. (NASDAQ:SGMO) will acquire CAR Treg therapy company TxCell S.A. (Euronext:TXCL), accelerating its immunology strategy by two years, according to a presentation on Monday. Sangamo expects to be the first company to bring a CAR Treg candidate -- TxCell's TX200 -- into the clinic.

TxCell shareholders will receive €2.58 per share in cash, or about €72 million ($84.5 million). Sangamo expects to complete in September the initial purchase of a 53% stake, with the acquisition of remaining shares expected to close next quarter. The price represents a 177% premium to TxCell's close of €0.93 on Friday, before the news...

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