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Sangamo BioSciences Provides Update on Company's Accomplishments in 2007 and 2008 Objectives

ate DN, and anticipates having data from

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.
Copyright©2007 PR Newswire.
All rights reserved

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