RICHMOND, Calif. and VALBONNE,
France, Dec. 3, 2018 /PRNewswire/ -- Sangamo
Therapeutics, Inc. (Nasdaq: SGMO) today announced the completion of
the acquisition of TxCell, SA. TxCell is now a subsidiary of
Sangamo and has been delisted from the French stock market.
"The acquisition of TxCell immediately positions Sangamo as the
leader in CAR-Treg development," said Sandy
Macrae, CEO of Sangamo. "We're thrilled to work with our
colleagues in France toward an
exciting new future together developing CAR-Tregs. By combining
Sangamo's zinc finger nuclease gene editing technology with
TxCell's CAR-Treg platform, we have the potential to develop a
pipeline of novel cell therapies for patients suffering from
autoimmune and inflammatory disorders."
In 2019, Sangamo expects to submit a clinical trial
authorization application (CTA)
in Europe for TxCell's first CAR-Treg
investigational product candidate for solid organ transplant.
About the Acquisition
On October 1st, 2018, Sangamo acquired a
majority stake in TxCell. A simplified cash tender offer was then
conducted from November 1, 2018 until
November 23, 2018, for the purchase
of outstanding ordinary shares of TxCell. Upon completion of the
simplified tender offer, on November 23, 2018, Sangamo held
95.71% of the share capital and voting rights of TxCell. On
November 29, 2018, through a
squeeze-out procedure, Sangamo acquired all remaining shares of
TxCell.
About Regulatory T cells (Tregs)
Tregs are a naturally
occurring subset of T cells and are critical for maintaining immune
homeostasis within the body by induction and maintenance of
tolerance to self-antigens. Sangamo intends to evaluate the
potential of CAR-Tregs (Tregs genetically modified with a chimeric
antigen receptor, or CAR) for the development of therapies for
immunological diseases, one of Sangamo's stated therapeutic areas
of focus for its proprietary product candidate pipeline. Sangamo
intends to use its zinc finger nuclease (ZFN) gene editing
technology to develop next-generation autologous and allogeneic
CAR-Treg cell therapies for use in treating autoimmune diseases
such as Crohn's disease and multiple sclerosis.
About Sangamo Therapeutics
Sangamo Therapeutics, Inc.
is focused on translating ground-breaking science into genomic
therapies with the potential to transform patients' lives using the
Company's platform technologies in genome editing, gene therapy,
gene regulation and cell therapy. For more information about
Sangamo, visit www.sangamo.com.
Sangamo Forward-Looking Statements
This press
release contains forward-looking statements regarding Sangamo's
current expectations. These forward looking statements include,
without limitation, statements related to the anticipated benefits
of the acquisition of TxCell; the anticipated benefits of combining
Sangamo's zinc finger nuclease gene editing technology with
TxCell's CAR-Treg platform; the potential to develop a pipeline of
novel cell therapies for patients suffering from autoimmune and
inflammatory disorders; Sangamo's plans to submit a clinical trial
authorization application, or CTA,
in Europe for TxCell's first CAR-Treg
investigational product candidate for solid organ transplant; and
other statements that are not historical facts. These statements
are not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Factors that could cause actual results to differ include, but are
not limited to: risks associated with business combination
transactions, such as the risk that the acquired TxCell business
will not be integrated successfully or that such integration may be
more difficult, time-consuming or costly than expected; risks
related to future opportunities and plans for the combined company,
including uncertainty of the expected future regulatory filings,
financial performance and results of the combined company following
completion of the proposed transaction; the possibility that if
Sangamo does not achieve the perceived benefits of the proposed
acquisition as rapidly or to the extent anticipated by financial
analysts or investors, the market price of Sangamo's common stock
could decline; uncertainties related to the planned CTA submission
and initiation and completion of clinical trials; whether clinical
trial results will validate and support the safety and efficacy of
the planned CAR-Treg product candidate; and the reliance on
partners and other third-parties to meet their clinical and
manufacturing obligations. Actual results may differ from those
projected in forward-looking statements due to risks and
uncertainties that exist in Sangamo's operations and business
environments. Certain of these risks and uncertainties are
described more fully in Sangamo's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2018.
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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SOURCE Sangamo Therapeutics, Inc.