Sangamo Therapeutics To Acquire Biotech TxCellBy
Sangamo Therapeutics, a Richmond, California-based biopharmaceutical company, has agreed to acquire TxCell, a Valbonne, France-based biotechnology company developing personalized cellular immunotherapies, for approximately EUR 72 million ($84 million).
TxCell is in the emerging field of regulatory T cell (Treg) development for immunological diseases, one of Sangamo’s therapeutic areas of focus for its proprietary product candidate pipeline. 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, according to information from Sangamo.
Sangamo intends to evaluate the potential of chimeric antigen receptor (CAR)-Treg (Tregs genetically modified with a CAR) therapies to prevent graft rejection in solid organ transplant and for treating autoimmune diseases such as Crohn’s disease and multiple sclerosis.
Sangamo expects that the proposed acquisition of TxCell would accelerate the company’s entry into the clinic with a CAR-Treg therapy. In 2019, Sangamo expects to submit a clinical trial authorization application in Europe for TxCell’s first CAR-Treg investigational product candidate for solid organ transplant, and to initiate a Phase I/II clinical trial later in the year. In addition, Sangamo intends to use its zinc finger nuclease gene-editing technology to develop autologous and allogeneic CAR-Treg cell therapies for use in treating autoimmune diseases.
Following the intended acquisition of a majority stake of TxCell, Sangamo will file a simplified cash tender offer for the purchase of all then outstanding ordinary shares of TxCell, at a price of EUR 2.58 ($3.02) per share in cash, or approximately EUR 72 million ($84 million), on a debt-free and cash-free basis. TxCell will be a subsidiary of Sangamo operating under the name Sangamo Therapeutics SA. TxCell’s operations will remain based in Valbonne, France.
Subject to satisfaction of closing conditions (including in particular those relating to regulations governing foreign investments in France), Sangamo expects to complete the transaction in the fourth quarter of 2018.
Source: Sangamo Therapeutics