Sangamo BioSciences, Inc
) recently announced that it has entered into an agreement to
acquire privately-held biotech company Ceregene, Inc.
As per the terms of the acquisition, Sangamo will issue
100,000 shares to the stockholders of Ceregene, representing less
than 0.2% of total outstanding shares. Additionally, Sangamo will
make milestone payments.
The acquisition is expected to close in Sep 2013 and Sanagmo
does not expect the acquisition to impact its financial guidance
of operating expenses and cash in 2013.
Ceregene focuses on developing adeno-associated virus (AAV)
gene therapies. Sangamo will acquire all of Ceregene's AAV
assets, which includes a phase II candidate, CERE-110, being
developed for the treatment of Alzheimer's disease.
The acquisition will provide Sangamo with more than 120
issued, pending or in-licensed patents along with other technical
Sangamo expects the technical knowhow acquired from Ceregene
to provide important reference materials to the company in the
preparation and filing of Investigational New Drug (IND)
applications for its novel ZFP Therapeutics. We note that Sangamo
is evaluating the safety and efficacy of a novel ZFP Therapeutic
for the treatment of HIV/AIDS.
We remind investors that Sangamo is also developing
therapeutics for hemophilia, Huntington's disease and other
Sangamo currently carries a Zacks Rank #2 (Buy). Other stock
that looks attractive is
Biogen Idec Inc
) with a Zacks Rank #1 (Strong Buy).
Another acquisition agreement announced recently is that of
Onyx Pharmaceuticals, Inc.
) under which Amgen will acquire Onyx Pharma for $125 per share
in cash or $10.4 billion.
AMGEN INC (AMGN): Free Stock Analysis Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis
ONYX PHARMA INC (ONXX): Free Stock Analysis
SANGAMO BIOSCI (SGMO): Free Stock Analysis
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