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A Chapter 11 stalking-horse asset sale, not a bust or win call yet: Astellas picked up Sangamo's Fabry disease gene therapy isaralgagene civaparvovec (ST-920) for just $25 million upfront plus $25 million in milestones, a bargain-bin salvage of a program born from a bankruptcy liquidation.
Distressed acquisition of a BLA-stage Fabry gene therapy
Full analysis, sources & comparables →Sangamo Form 8-K: Chapter 11 filing and asset sale agreements with Lilly and Astellas as stalking-horse bidders.
Sangamo enters asset sale agreement with Astellas for Fabry program ST-920 (isaralgagene civaparvovec); $25M at closing + up to $25M milestones; Astellas…
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As part of Sangamo Therapeutics' Chapter 11 filing, Astellas Pharma agreed to acquire Sangamo's Fabry disease gene therapy program isaralgagene civaparvovec (ST-920) for $25 million at closing plus up to $25 million in milestone payments. Astellas serves as the stalking-horse bidder under a Section 363 sale process subject to a court-supervised auction.
Under Sangamo's June 23, 2026 Chapter 11 process, Astellas Gene Therapies agreed as stalking-horse bidder to acquire Sangamo's clinical-stage Fabry disease program — isaralgagene civaparvovec (ST-920), an AAV gene therapy — for $25 million cash at closing plus up to $25 million in milestone consideration ($50M total). Sangamo commenced a rolling BLA for ST-920 in December 2025 (continued March 2026) seeking accelerated approval, with Phase 1/2 (STAAR) data showing improved kidney function at 52 weeks. The sale is a §363 process subject to higher or better offers.
Astellas Gene Therapies agrees to acquire ST-920 (isaralgagene civaparvovec) for $25M cash + up to $25M milestones as stalking-horse bidder in Sangamo's §363 sale.
A BLA-stage Fabry gene therapy for $50M total is inexpensive, but the deal is a floor bid subject to auction and Astellas must complete the accelerated-approval BLA.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Astellas Pharma Inc. / Sangamo Therapeutics, Inc. (this deal) | 2026 | $50M | 63 |
| Astellas Pharma Inc. / Seagen Inc. | 2009 | $4.5B | 95 |
| Astellas Pharma Inc. / Ganymed Pharmaceuticals | 2016 | $1.4B | 81 |
| Astellas Pharma Inc. / Ogeda SA | 2017 | $850M | 59 |
| Astellas Pharma Inc. / Ocata Therapeutics, Inc. | 2015 | $379M | 41 |
| Astellas Pharma Inc. / Optimer Pharmaceuticals, Inc. | 2012 | $90M | 38 |
| Astellas Pharma Inc. / OSI Pharmaceuticals | 2010 | $4.0B | 33 |
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