PTC Therapeutics acquires Sangamo’s Fabry gene therapy program for $111 million upfront

PTC Therapeutics announced it has purchased the Fabry disease gene-therapy program (ST-920) from Sangamo Therapeutics.

The deal provides $111 million in upfront cash and includes up to $100 million in milestone payments, bringing the total potential value to $211 million. PTC outbid Astellas and TerSera Therapeutics in an auction held on Aug 10.

Sangamo, which is in bankruptcy, had previously named Astellas as a stalking-horse bidder with a $25 million upfront offer and up to $25 million in milestones. The company also sold other technology to Eli Lilly for $50 million.

PTC’s CEO Matthew Klein said the program fits into the company’s existing manufacturing and expertise, allowing a rapid launch without major new investment.