Sangamo BioSciences to buy Ceregene

In its first takeover bid since 2001, US drugmaker Sangamo BioSciences (Nasdaq: SGMO) has signed a definitive agreement to acquire Ceregene, a privately held biotechnology company focused on developing adeno-associated virus (AAV) gene therapies in a share and cash deal, the value of which was not disclosed.

San Diego-based Ceregene is a startup developing gene-therapy based products for treating Parkinson's and Alzheimer's disease. As part of the transaction, Sangamo will acquire all of Ceregene's AAV assets including CERE-110, AAV delivery of nerve growth factor (NGF) to the brain for the treatment of Alzheimer's disease.

"Ceregene is a leader in development and manufacturing of AAV-based therapies with significant clinical development experience," said Edward Lanphier, Sangamo's president and chief executive, adding: "Since their inception in 2001, the company has safely treated over 115 subjects in four clinical trials. Sangamo has acquired all of Ceregene's AAV assets including CERE-110, AAV delivery of nerve growth factor (NGF) to the brain for the treatment of Alzheimer's disease.”