Sangamo sinks further as Novartis and Biogen back away

21 March 2023

Just a couple of years ago, shares in US biotech Sangamo Therapeutics (Nasdaq: SGMO) were worth more than $13, but the latest dose of bad news on the company has led them to drop below $2.

The cell and gene therapy company submitted a US Securities and Exchange Commission (SEC) filing last week announcing that both Novartis (NOVN: VX) and Biogen (Nasdaq: BIIB) had terminated licensing agreements with the Californian firm.

Both in the neurology space and signed in 2020, the deals could have seen Sangamo earn in excess of $3.1 billion in potential milestones.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK