Lilly, PTC pick up Sangamo gene therapies in bankruptcy auction

Sangamo Therapeutics has selected winning bidders following its bankruptcy auction, yielding approximately $163.55 million in cash consideration at closing, plus potential future milestone payments of up to $100 million.

PTC picked up Sangamo’s most advanced asset, ST-920, a gene therapy for Fabry disease that was submitted for BLA review on a rolling basis in March 2026 under the accelerated approval pathway. When Sangamo first announced the bankruptcy filing in June, it was Astellas that had emerged as a stalking horse bidder for ST-920. But PTC emerged as the winner, paying $111 million in cash consideration at closing, plus up to $100 million in potential future milestone payments.

Eli Lilly will buy Sangamo's capsid delivery technology (STAC-BBB), zinc finger nuclease, and modular integrase platforms, plus an early-stage AAV-based prion disease program (ST-506), for $50 million in cash. The two companies have history — Lilly paid $18 million upfront last April to license STAC-BBB for a CNS gene therapy, in a deal worth up to $1.4 billion at milestones. 

Sangamo continues to solicit and review offers for its other key assets including the clinical-stage programs ST-503 for chronic neuropathic pain and giroctocogene fitelparvovec for hemophilia A, as well as Sangamo’s cell therapy and T-Reg assets.

The proposed asset sales remain subject to final approval by the U.S. Bankruptcy Court for the District of Delaware; Sangamo will present the winning bids for court confirmation at the sale hearings expected to occur in the third quarter of 2026.