- Sangamo Therapeutics (NASDAQ:SGMO) inks a global collaboration agreement with Gilead Sciences (NASDAQ:GILD) unit Kite Pharma aimed at developing next-generation ex vivo (out of the body) oncology-focused cell therapies based on Sangamo's zinc finger nuclease (ZFN) technology.
- Kite intends to use ZFN to modify genes to develop new therapies for autologous and allogeneic use in treating a range of cancers.
- Under the terms of the agreement, Sangamo will receive $150M upfront, up to $3.01B in potential milestone payments across at least 10 products and tiered royalties on net sales.
- Kite will be responsible for all development, manufacturing and commercialization costs and activities and will pay certain expenses incurred by Sangamo.
- ZFN is a gene editing technology that uses a DNA-cutting enzyme attached to zinc finger DNA-binding proteins to recognize and edit specific sequences of DNA. Its major rival is CRISPR/Cas9 which is considered to be easier to use, cheaper and more precise.
- Sangamo will host a conference call this morning at 8:00 am ET to discuss the partnership. Shares are up 6% premarket on light volume.
- Now read: 2018 Strategic Outlook: Will Fortune Favor The Bold In Biotech?
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