Sangamo files for Chapter 11 as Eli Lilly and Astellas step in to buy its valuable gene therapy and genome-editing assets.
Sangamo Therapeutics Inc.
(NASDAQ:SGMO) filed for Chapter 11 bankruptcy protection on Tuesday, as the gene therapy company seeks to sell its assets through a court-supervised process.
The gene-editing company has lined up affiliates of Eli Lilly and Co.
(NYSE:LLY) and Astellas Pharma Inc.
(OTC:ALPMF) (OTC:ALPMY) as stalking horse bidders for key assets while also securing a commitment for up to $30 million in debtor-in-possession financing.
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