Sangamo Reviews Options as Drugmakers Terminate Deals
Novartis Institutes for BioMedical Research was the first to move, giving notice on Mar. 13 that it was terminating its agreement with effect from Jun. 11, 2023. Under an agreement signed in July 2020, the partners were engaged in programs to research gene regulation therapies to treat three neurodevelopmental disorders. Novartis told Sangamo that its termination relates to a recent strategic review.
Four days later — on Mar. 17 — Biogen notified Sangamo that it would end its February 2020 agreement effective Jun. 15, 2023, also citing a recent strategic review as the reason. The program was focused on developing gene regulation therapies for Alzheimer’s, Parkinson’s, a neuromuscular target and nine other undisclosed neurological targets.
Sangamo said it believes it has enough cash and marketable securities to fund operations for at least 12 months from February 2023.
Author: Elaine Burridge, Freelance Journalist