Sangamo Announces Completion Of TxCell Acquisition
RICHMOND, Calif. and VALBONNE, France, Dec. 3, 2018
RICHMOND, Calif. and VALBONNE, France, Dec. 3, 2018 /PRNewswire/ -- Sangamo Therapeutics, Inc. (Nasdaq: SGMO) today announced the completion of the acquisition of TxCell, SA. TxCell is now a subsidiary of Sangamo and has been delisted from the French stock market.
"The acquisition of TxCell immediately positions Sangamo as the leader in CAR-Treg development," said Sandy Macrae, CEO of Sangamo. "We're thrilled to work with our colleagues in France toward an exciting new future together developing CAR-Tregs. By combining Sangamo's zinc finger nuclease gene editing technology with TxCell's CAR-Treg platform, we have the potential to develop a pipeline of novel cell therapies for patients suffering from autoimmune and inflammatory disorders."
In 2019, Sangamo expects to submit a clinical trial authorization application (CTA) in Europe for TxCell's first CAR-Treg investigational product candidate for solid organ transplant.
About the Acquisition
On October 1st, 2018, Sangamo acquired a majority stake in TxCell. A simplified cash tender offer was then conducted from November 1, 2018 until November 23, 2018, for the purchase of outstanding ordinary shares of TxCell. Upon completion of the simplified tender offer, on November 23, 2018, Sangamo held 95.71% of the share capital and voting rights of TxCell. On November 29, 2018, through a squeeze-out procedure, Sangamo acquired all remaining shares of TxCell.
About Regulatory T cells (Tregs)
Tregs are a naturally occurring subset of T cells and are critical for maintaining immune homeostasis within the body by induction and maintenance of tolerance to self-antigens. Sangamo intends to evaluate the potential of CAR-Tregs (Tregs genetically modified with a chimeric antigen receptor, or CAR) for the development of therapies for immunological diseases, one of Sangamo's stated therapeutic areas of focus for its proprietary product candidate pipeline. Sangamo intends to use its zinc finger nuclease (ZFN) gene editing technology to develop next-generation autologous and allogeneic CAR-Treg cell therapies for use in treating autoimmune diseases such as Crohn's disease and multiple sclerosis.
About Sangamo Therapeutics
Sangamo Therapeutics, Inc. is focused on translating ground-breaking science into genomic therapies with the potential to transform patients' lives using the Company's platform technologies in genome editing, gene therapy, gene regulation and cell therapy. For more information about Sangamo, visit www.sangamo.com.
Sangamo Forward-Looking Statements
This press release contains forward-looking statements regarding Sangamo's current expectations. These forward looking statements include, without limitation, statements related to the anticipated benefits of the acquisition of TxCell; the anticipated benefits of combining Sangamo's zinc finger nuclease gene editing technology with TxCell's CAR-Treg platform; the potential to develop a pipeline of novel cell therapies for patients suffering from autoimmune and inflammatory disorders; Sangamo's plans to submit a clinical trial authorization application, or CTA, in Europe for TxCell's first CAR-Treg investigational product candidate for solid organ transplant; and other statements that are not historical facts. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to: risks associated with business combination transactions, such as the risk that the acquired TxCell business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to future opportunities and plans for the combined company, including uncertainty of the expected future regulatory filings, financial performance and results of the combined company following completion of the proposed transaction; the possibility that if Sangamo does not achieve the perceived benefits of the proposed acquisition as rapidly or to the extent anticipated by financial analysts or investors, the market price of Sangamo's common stock could decline; uncertainties related to the planned CTA submission and initiation and completion of clinical trials; whether clinical trial results will validate and support the safety and efficacy of the planned CAR-Treg product candidate; and the reliance on partners and other third-parties to meet their clinical and manufacturing obligations. Actual results may differ from those projected in forward-looking statements due to risks and uncertainties that exist in Sangamo's operations and business environments. Certain of these risks and uncertainties are described more fully in Sangamo's Quarterly Report on Form 10-Q for the quarter ended September 30, 2018. Forward-looking statements contained in this announcement are made as of this date, and Sangamo undertakes no duty to update such information except as required under applicable law.
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SOURCE Sangamo Therapeutics, Inc.