Biotech Values

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Sangamo Receives Michael J. Fox Foundation Funding to Develop Novel ZFP Therapeutic for the Treatment of Parkinson's Disease
RICHMOND, Calif., Jan 23, 2007 /PRNewswire via COMTEX News Network/ -- Sangamo BioSciences, Inc. (Nasdaq: SGMO) announced today that it has been awarded funding by The Michael J. Fox Foundation for Parkinson's Research (MJFF) to support the development of a ZFP Therapeutic(TM) to treat Parkinson's disease (PD). The $950,000 award will be paid over a period of two years.
Sangamo will develop zinc-finger DNA-binding protein transcription factors (ZFP TFs(TM)) to activate the expression of glial cell line-derived neurotrophic factor (GDNF), a potent neurotrophic factor that has shown promise in preclinical testing to slow or stop the progression of Parkinson's disease.

"We are enthusiastic about Sangamo's novel approach to GDNF as it fits squarely within our desire to promote alternative therapeutic strategies for this and other promising molecules," said Brian Fiske, PhD, associate director of research programs for MJFF. "The work is of particular interest given that Sangamo already has similar technology in clinical trials for diabetic neuropathy and peripheral artery disease and, with a positive result, could proceed rapidly into clinical trials for PD."

Sangamo's technology platform permits the development of highly specific ZFP TFs that can be used to regulate or modify genes at the DNA level. Using a ZFP TF, a gene can be activated in a patient's own cells in its natural cellular context. Use of a ZFP TF to activate the GDNF gene in the brain -- as compared to addition of a GDNF cDNA or the recombinant protein -- may allow the delivery of a more physiologically relevant dose of the growth factor. This may be of particular significance when targeting potent natural growth factors such as GDNF, where sufficient but not super-physiological levels of the therapeutic protein are required to achieve potency with safety.

"We are very pleased that The Michael J. Fox Foundation is recognizing and supporting the potential of Sangamo's unique technology with this award," said Edward Lanphier, Sangamo's President and CEO. "We believe that our approach to therapeutic gene regulation, which mimics the natural regulation of the gene in the body, has advantages over other approaches that add GDNF as either the gene or the recombinant protein. Success in this project would establish the validity of the use of ZFP TFs in the brain and set the stage for the application of this powerful technology to other genes that may have a therapeutic benefit in PD."


I sold a chunk of SGMO on the news. It's moved from 6.25 to the low 7's pretty quickly. It's still by far my biggest holding. Here's a chart showing it near the top of the 2 parallel squiggles.
http://www.stockconsultant.com/consultnow/basicplus.cgi?ID=sample&symbol=SGMO&14800#ttop

I'll buy it back in the mid 6's depending....

Dave