Sangamo Therapeutics rises on tie-up with Lilly to evaluate drug delivery tech
17/07/2023 13:52
** Shares of genetic medicine developer Sangamo Therapeutics
Inc SGMO.O rise 9.2% to $1.41 premarket
** Co says it has signed an evaluation and option agreement
with Prevail Therapeutics, a unit of Eli Lilly and Co LLY.N ,
to evaluate SGMO's proprietary drug delivery particles
** Under the deal, LLY unit will evaluate SGMO's
adeno-associated virus (AAV) capsids, which have demonstrated a
potential for high efficiency delivery of experimental gene
therapies in preclinical animal models - SGMO
** Viral capsid is a protein shell that encloses the
genetic material of a virus
** SGMO will receive an undisclosed upfront payment and up
to about $1.2 bln upon completion of certain commercial and
developmental milestones - co
** Up to last close, SGMO stock down ~59% YTD
(Reporting by Mariam Sunny in Bengaluru)
((Mariam.ESunny@thomsonreuters.com;))