Sangamo raises $200M in follow-on

Sangamo Therapeutics Inc. (NASDAQ:SGMO) raised $200 million on April 25 through the sale of 12.3 million shares at $16.25 in a follow-on underwritten by BofA Merrill Lynch, J.P. Morgan and Cowen. The price is a 9% discount to Sangamo's closing price of $17.80 on April 24, when it proposed the offering after market hours.

Sangamo's pipeline includes programs based on its genome editing and gene and cell therapy technologies. Three of its programs using zinc finger nuclease (ZFN) technology are in Phase I/II trials: SB-FIX, which inserts Factor IX into the albumin gene locus to treat hemophilia B; SB-318, which targets the albumin locus and the gene for alpha-L-iduronidase to treat mucopolysaccharidosis I (MPS I); and SB-913, which is designed to deliver the iduronate 2-sulfatase (IDS) gene to treat MPS II...