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Sangamo BioSciences Reports Third Quarter 2009 Financial Results
Date:11/4/2009

alue=0.02) increase in small unmyelinated nerve fibers in the skin, or intraepidermal nerve fiber density (IENFD), in subjects with DN. Data were also presented that provided additional evidence of the positive effect of SB-509 on large fiber sensory nerve health as measured by improvements in nerve conduction velocity (NCV), in subjects with elevated markers of vascular damage (ICAM-1), and improvements in the muscle components of the neurologic exam (NIS-LL) 30-days after each of the three administrations of SB-509. Together these data confirm the neuroregenerative activity of SB-509 in patients with DN and define a drug-responsive population for future trials.
  • Completion of an underwritten public offering. On October 13, 2009, Sangamo closed an underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $7.20 per share resulting in net proceeds of approximately $20.9 million after deduction of underwriting discounts and commissions and other offering expenses.
  • Expansion of licensing agreement with Sigma-Aldrich. Sigma-Aldrich Corporation and Sangamo announced a major expansion of our existing license agreement to include the exclusive rights to develop and distribute ZFP-modified cell lines for commercial production of protein pharmaceuticals. Under the expanded agreement, Sigma also obtained rights to certain ZFP-engineered transgenic animals for commercial applications. Under the terms of the agreement, Sigma made initial payments of $20.0 million to Sangamo, consisting of an upfront license fee of $15.0 million and $5.0 million through the purchase of Sangamo's common stock at $7.86 per share. Sangamo is eligible to earn additional contingent commercial license fees of up to $5.0 million based on certain conditions and thereafter a royalty based upon a percentage of net sales and sublicensing revenue. Sangamo is also eligible to receive commercial milestone payments ranging from $2.0 mil
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