Sangamo Therapeutics Announces Research Evaluation and Option Agreement With Prevail, a Wholly Owned Subsidiary of Lilly, for Novel Engineered Capsids
July 17 2023 - 8:05AM
Business Wire
Sangamo Therapeutics, Inc. (“Sangamo”, Nasdaq: SGMO), a genomic
medicine company, today announced it has signed an evaluation and
option agreement with Prevail Therapeutics (“Prevail”), a wholly
owned subsidiary of Eli Lilly and Company, through which Prevail
has been granted rights to evaluate certain proprietary
adeno-associated virus (AAV) capsids developed by Sangamo and may
exercise certain options to license these capsids for multiple
undisclosed neurological targets. Generated through Sangamo’s AAV
capsid engineering platform, SIFTER (Selecting In vivo For
Transduction and Expression of RNA), these capsids have
demonstrated a potential for high efficiency delivery of
investigatory gene therapy constructs to the central nervous system
in pre-clinical animal models following administration into the
cerebrospinal fluid and seek to optimize delivery of therapeutics
to a range of previously inaccessible areas.
“We believe these innovative new capsids have the potential to
broaden addressable indications in the field of genomic medicines,
opening up potential new treatment options for patients in need,”
said Mark McClung, Chief Operating Officer at Sangamo. “This
agreement highlights the value of our AAV capsid engineering
program, not only for the discovery of novel capsids for the
advancement of our wholly owned programs, but also as an
opportunity to work with partners to broaden the scope of diseases
addressable with AAV gene therapy. We are thrilled to work with
Prevail to evaluate our novel capsids for neurological targets and
are pleased that other genomic medicine companies recognize their
potential value.”
Under the terms of the global agreement, Prevail will evaluate
Sangamo’s proprietary capsids by performing in vitro and in vivo
studies, with an option to obtain an exclusive license to use the
capsids for certain neurological targets. Sangamo will provide the
capsids to Prevail for evaluation in exchange for an upfront
payment. If Prevail exercises its option for all targets, and a
Prevail product is approved in the U.S. and Europe for each target,
Sangamo would be eligible to receive exercise fees and
developmental milestones of up to approximately $415 million and
commercial milestones of up to approximately $775 million, in
addition to tiered royalties based on net sales of Prevail products
incorporating the licensed capsids. Prevail would lead all further
development, manufacturing and commercialization of products
incorporating the licensed capsids.
About Sangamo Therapeutics
Sangamo Therapeutics is a clinical-stage biopharmaceutical
company with a robust genomic medicines pipeline. Using
ground-breaking science, including our proprietary zinc finger
genome engineering technology and manufacturing expertise, Sangamo
aims to create new genomic medicines for patients suffering from
diseases for which existing treatment options are inadequate or
currently don’t exist. To learn more, visit www.sangamo.com and
connect with us on LinkedIn and Twitter.
Sangamo Forward Looking Statements
This press release contains forward-looking statements based on
Sangamo's current expectations. These forward-looking statements
include, without limitation, statements relating to capsid
potential for high efficiency delivery of investigatory gene
therapy constructs to the central nervous system in pre-clinical
animal models, the potential to address the issue of delivery of
therapeutics to a range of previously inaccessible areas, the
potential for Prevail to exercise its option agreement and for
Sangamo to earn milestone payments and royalties, and the potential
to use Sangamo capsids to deliver therapies treating neurological
diseases. These statements are not guarantees of future performance
and are subject to certain risks and uncertainties that are
difficult to predict. Factors that could cause actual results to
differ include, but are not limited to, the research development
process, including the results of clinical trials; the regulatory
approval process for product candidates; the potential for
technological developments that obviate technologies used by
Sangamo and its collaborators; the COVID-19 pandemic; the potential
for Prevail to breach or terminate its agreement with Sangamo; and
the potential for Sangamo to fail to realize its expected benefits
of the Prevail collaboration. Actual results may differ from those
projected in forward-looking statements due to risks and
uncertainties that exist in Sangamo's operations and business.
These risks and uncertainties are described more fully in our
Securities and Exchange Commission filings and reports, including
in our Annual Report on Form 10-K for the year ended December 31,
2022 and our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2022. Forward-looking statements contained in this
announcement are made as of this date, and Sangamo undertakes no
duty to update such information except as required under applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230717830975/en/
Investor Relations & Media Inquiries Louise Wilkie
ir@sangamo.com media@sangamo.com
Business Development Inquiries BusDev@Sangamo.com
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