Sangamo Files for Chapter 11 Bankruptcy in Delaware (1)

(Updates with details from company statement.)

Sangamo Therapeutics filed for Chapter 11 bankruptcy in Delaware and entered into two separate asset sale agreements, one with Eli Lilly and another with Astellas Pharma, according to a statement.

• Pact with Lilly is for Sangamo’s capsid delivery platform, zinc finger platform, modular integrase platform and prion disease program ST-506 and deal with Astellas is for the Fabry disease program isaralgagene civaparvovec
• Lilly and Astellas will each serve as stalking horse bidders for their respective assets
• Sangamo filed the petition in U.S. Bankruptcy Court for the District of Delaware
  • Reported liabilites of $100m-$500m ...