this trial in the second half of 2008.
-- Successful prosecution of Sangamo's collaboration with Dow AgroSciences
has resulted in the achievement of several research milestones
including the first demonstration of ZFN-mediated targeted integration
of DNA into a native gene in maize and the first demonstration of
targeting a native gene in canola with ZFNs.
-- Sangamo established a major alliance with Sigma-Aldrich Corporation to
develop and commercialize high value laboratory research reagents based
upon Sangamo's zinc finger DNA binding protein technology. In July
2007, as part of the agreement, Sangamo received an upfront payment of
$13.5 million which included license fees and the purchase of one
million shares of Sangamo stock. Sangamo is also eligible to receive
development and commercial milestone payments of up to $24 million,
sublicense payments and royalties on product sales.
-- Further strengthening its balance sheet, Sangamo completed a registered
direct offering of its common stock. In July 2007, Sangamo sold an
aggregate of 3,278,689 shares of common stock to a group of
institutional investors in a registered direct offering, resulting in
gross proceeds to the company of approximately $30.0 million before
fees and expenses. The company estimates that it will end 2007 with
approximately $80M in cash and cash equivalents.
Select 2008 Objectives
During the briefing Sangamo will also discuss the following anticipated
objectives for 2008:
-- In the second half of 2008, Sangamo expects to have data from its
repeat-dosing Phase 2 trial of SB-509 in patients with mild to moderate
DN and anticipates completing accrual and having data from a second
Phase 2 trial of the same drug in patients
|SOURCE Sangamo BioSciences, Inc.|
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