PTC Therapeutics to Buy Drug Candidate from Sangamo for up to $211M
Dow Jones
Aug 29
PTC Therapeutics plans to buy a drug candidate from Sangamo Therapeutics for up to $211 million.
Under the agreement, PTC will pay $111 million upfront, plus up to an additional $100 million in contingent milestone payments, according to a filing with the Securities and Exchange Commission on Friday.
The milestone payments include $80 million upon accelerated approval by the Food and Drug Administration for a biologics license application and $20 million upon full approval by the FDA.
The deal is for ST-920, a gene therapy product candidate aimed at treating Fabry disease, a rare genetic disorder.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.