Jan 9 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
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
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