Sangamo Therapeutics, Inc. (SGMO) announced on Tuesday that it has established a global licensing agreement with Genentech to advance the development of intravenous genomic medicines for neurodegenerative disorders. Following this news, the stock is up 43 percent in the pre-market.
As per the agreement, Sangamo will provide Genentech with an exclusive license for its proprietary zinc finger repressors that target the tau gene, which plays a crucial role in Alzheimer's disease and tauopathies, as well as for another undisclosed neurological target. Additionally, Genentech has received an exclusive license for Sangamo's proprietary AAV capsid, STAC-BBB, known for its effective penetration of the blood-brain barrier.
As part of the agreement, Sangamo will oversee technology transfer and preclinical activities, while Genentech will take the lead on clinical development, regulatory affairs, manufacturing, and global commercialization.
Genentech is anticipated to pay Sangamo $50 million in upfront license fees and milestone payments in the near term. Furthermore, Sangamo stands to gain up to $1.9 billion in development and commercial milestones, along with tiered royalties based on net sales of the products.
In pre-market activity on the Nasdaq, the shares are trading at $1.10, up 43.24%.
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