Biotech Values

[DewDiligence]

GILD/KITE licenses SGMO’s ZFN technology—$150M up-front:

https://www.businesswire.com/news/home/20180222005488/en/Kite-Gilead-Company-Sangamo-Therapeutics-Announce-Collaboration

Kite, a Gilead Company and Sangamo Therapeutics, Inc. today announced the companies have entered into a worldwide collaboration using Sangamo’s zinc finger nuclease (ZFN) technology platform for the development of next-generation ex vivo cell therapies in oncology.

Kite will use Sangamo’s ZFN technology to modify genes to develop next-generation cell therapies for autologous and allogeneic use in treating different cancers.

…Under the terms of the agreement, Sangamo will receive an upfront payment of $150 million and is eligible to receive up to $3.01 billion in potential payments, aggregated across 10 or more products utilizing Sangamo’s technology, based on the achievement of certain research, development, regulatory and successful commercialization milestones. Sangamo would also receive tiered royalties on sales of potential future products resulting from the collaboration. Kite will be responsible for all development, manufacturing and commercialization of products under the collaboration, and will be responsible for agreed upon expenses incurred by Sangamo.

SGMO is +8% in PM trading.