Palm Beach, FL 2/1/12 (StreetBeat) – Shire (Nasdaq: SHPGY) and Sangamo BioSciences (Nasdaq: SGMO) entered into a collaboration and license agreement to develop therapeutics for hemophilia and other monogenic diseases.The products will be based on Sangamo’s zinc finger DNA-binding protein (ZFP) technology.
Under the terms of the agreement Shire will pay Sangamo of Richmond, Calif., $13 million up front, followed by undisclosed research, regulatory, development and commercial milestone payments, and royalties on product sales.
Shire, which is based in Dublin, Ireland, and has its U.S. headquarters in Wayne, Pa., will receive exclusive worldwide rights to ZFP therapeutics designed to target four genes associated with blood clotting, which will be used to investigate curative therapies for hemophilia A and B. Shire also receives the right to designate three additional gene targets.
Sangamo is responsible for all drug development activities through submission of investigational new drug applications and European clinical trial applications for each product. Shire will reimburse Sangamo for its internal and external research program-related costs. Shire is also responsible for clinical development and commercialization of products arising from the alliance.
Sangamo’s proprietary ZFP technology is designed to create therapeutic compounds that can be engineered to recognize and target any specific DNA sequence within a gene.
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