Sangamo Therapeutics rises on licensing agreement with Genentech
06/08/2024 16:56
** Shares of gene therapy developer Sangamo Therapeutics
SGMO.O surge 60.83% to $1.23
** Co says it has entered into a license agreement with
Roche's ROG.S Genentech to develop therapies for
neurodegenerative diseases
** Sangamo has granted Genentech an exclusive license to
Sangamo's proprietary repressors that are directed to the tau
gene, which is critically involved in Alzheimer's disease
** Co expected to receive $50 million in near-term upfront
license fees and milestone payments, and is eligible to earn up
to $1.9 billion in development and commercial milestone payments
** Stock has more than doubled YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))