Key Developments For Sangamo Biosciences Inc
Sangamo Biosciences Inc (SGMO.O) (Consolidated Issue listed on NASDAQ Global Market)
Sangamo BioSciences, Inc. Research Collaborators Awarded Grant From California Institute For Regenerative Medicine To Develop Zinc Finger Nuclease Based Stem Cell Therapy For HIV/AIDS
Sangamo BioSciences, Inc. announced that the California Institute for Regenerative Medicine (CIRM) has granted a $14.5 million Disease Team Research Award to develop an AIDS-related lymphoma therapy based on the application of its zinc finger nuclease (ZFN) gene-editing technology in stem cells. The four year grant supports an research project conducted by a multidisciplinary team of investigators led by John Zaia, M.D. the Aaron D. and Edith Miller Chair in Gene Therapy and chair of virology, City of Hope.
Sangamo BioSciences, Inc. Announces Presentation Of Top-Line Statistically Significant Phase 2 Data In Diabetic Neuropathy
Sangamo BioSciences, Inc. announced the presentation of top-line, statistically significant Phase 2 clinical data from its ZFP Therapeutic program to develop SB-509 as a treatment for diabetic neuropathy (DN) at the Society for Neuroscience Annual Meeting held in Chicago. Top-line data from Sangamo's SB-509-601 Phase 2 clinical trial demonstrated a direct neuroregenerative effect of SB-509 treatment that resulted in a statistically significant (p value=0.02) increase in small unmyelinated nerve fibers in the skin, or intraepidermal nerve fiber density (IENFD), in subjects with DN. Data were also presented that provided additional evidence of the positive effect of SB-509 on large fiber sensory nerve health as measured by improvements in nerve conduction velocity (NCV), in subjects with elevated markers of vascular damage (ICAM-1), and improvements in the muscle components of the neurologic exam (NIS-LL) 30-days after each of the three administrations of SB-509. Together these data confirm the neuroregenerative activity of SB-509 in patients with DN and define a drug-responsive population for future trials. Data were also presented that demonstrate that in subjects with more severe neuropathy, as judged by their baseline IENFD, a greater nerve regrowth response to SB-509 treatment was observed compared to regrowth responses in placebo-treated subjects.
Sangamo BioSciences, Inc. Announces Closing of Common Stock Offering
Sangamo BioSciences, Inc. announced the closing of its public offering of 3,000,000 shares of its common stock at a price of $7.20 per share. The net proceeds to Sangamo from the sale of shares in this offering, after deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $20.9 million. Sangamo intends to use the net proceeds from the offering for working capital and other general corporate purposes, including support for the Company's continuing research and development of its ZFP Therapeutic product candidates. Jefferies & Company, Inc. acted as sole book-running manager in this offering.
Sangamo BioSciences, Inc. Announces Pricing Of Public Offering Of Common Stock
Sangamo BioSciences, Inc. announced the pricing of a public offering of 3,000,000 shares of its common stock. The offering is expected to close on or about October 13, 2009. In addition, Sangamo has granted the underwriter a 30-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments, if any. Jefferies & Company, Inc. is acting as sole book-running manager in this offering.
Sigma-Aldrich Corporation Aand Sangamo BioSciences, Inc. Announce Expansion of ZFP Technology License Agreement
Sigma-Aldrich Corporation and Sangamo BioSciences, Inc. announced a expansion of their existing license agreement to include the exclusive rights to develop and distribute zinc finger DNA binding protein (ZFP)-modified cell lines for commercial production of protein pharmaceuticals. Additionally, Sigma-Aldrich licensed rights to certain ZFP-engineered transgenic animals for commercial applications. The expanded agreement provides Sigma-Aldrich with exclusive rights to develop and distribute ZFP-modified cell lines for commercial production of protein pharmaceuticals and ZFP-engineered transgenic animals for livestock, companion animals and therapeutic protein production. Sangamo retained all rights to ZFP-modified transgenic animals for discovery of novel therapeutics and the right to use ZFPs as therapeutic products. Under this agreement, Sigma-Aldrich will make initial payments of $20.0 million to Sangamo, consisting of an upfront license payment of $15.0 million and $5.0 million through the purchase of 636,133 shares of Sangamo common stock at market price. Market price is determined by the average closing price of Sangamo stock over the past 30 trading days, or $7.86 per share. Sangamo is eligible to earn additional contingent commercial license fees of up to $5.0 million based on certain conditions and thereafter a royalty based upon a percentage of net sales and sublicensing revenue. .
