PTC Therapeutics, Inc. (NASDAQ: PTCT) has emerged as the successful bidder to acquire ST-920, a BLA-stage gene therapy for Fabry disease, from Sangamo Therapeutics through a competitive bankruptcy auction.
The deal involves an upfront payment of $111 million, with potential additional payments of up to $100 million contingent on achieving specific regulatory milestones.
The BLA for ST-920 is supported by data demonstrating a significant positive impact on renal function and a favorable safety and tolerability profile over 52 weeks from the Phase 1/2 STAAR study.
The transaction is anticipated to close by late Q3 or early Q4 2026, pending definitive documentation, bankruptcy court approval, antitrust review, and other standard closing conditions.
"This transaction advances our strategy of leveraging our accomplished existing rare disease global commercial infrastructure to accelerate short- and intermediate-term revenue growth," said Matthew B. Klein, M.D., Chief Executive Officer. "The ST-920 gene therapy program puts another innovative and valuable product in the demonstrated capable hands of our customer-facing teams."