Sangamo Biosciences to develop blood disorder drugs with Biogen

Thu Jan 9, 2014 7:28am EST

Jan 9 (Reuters) - Sangamo Biosciences Inc said it would collaborate with Biogen Idec Inc to develop treatments for a group of inherited blood disorders.

Sangamo shares rose about 8 percent to $14.74 in premarket trading.

Biogen will pay Sangamo $20 million upfront, and use Sangamo's gene-based technology to develop drugs targeting sickle cell disease and beta-thalassemia.

Sangamo will also be eligible for additional payments of about $300 million in milestones, as well as double digit royalties on product sales.

The company will be responsible for research and development activities for the first proof-of-concept study for beta-thalassemia.

Biogen will pay for research costs incurred by Sangamo and market drugs developed during the collaboration. (Reporting By Vrinda Manocha in Bangalore; Editing by Joyjeet Das)

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