Sangamo Therapeutics files for bankruptcy after three decades, selling assets to Eli Lilly for $50M and Astellas for up to $50M, ending its run as a pioneer in gene editing.

Sangamo Therapeutics files for bankruptcy after three decades, selling assets to Eli Lilly for $50M and Astellas for up to $50M, ending its run as a pioneer in gene editing.

Sangamo files for Chapter 11 as Eli Lilly and Astellas step in to buy its valuable gene therapy and genome-editing assets.

Eli Lilly and Astellas will be the lead bidders at an auction for Sangamo assets. Elsewhere, an investor syndicate committed $230 million to a gene editing startup and Merck KGaA…