Biogen Idec and Sangamo BioSciences announced an exclusive worldwide Pharma licensing and collaboration agreement focused on the development of therapeutics for hemoglobinopathies for $320 million.
Hemoglobinopathies is inherited conditions that result from the abnormal structure or underproduction of hemoglobin.
The pharma licensing agreement will enable Biogen Idec to further enhance its expertise in non-malignant hematology by leveraging Sangamo's proprietary genome-editing technology platform to develop treatments targeting sickle cell disease (SCD) and beta-thalassemia.
Sangamo's proprietary zinc finger nuclease (ZFN) genome-editing technology enables multiple pathways to treat SCD and beta-thalassemia.
Sangamo is responsible for all research and development activities through the first clinical proof of concept trial in beta-thalassemia.
Both companies will perform activities to enable submission of an Investigational New Drug application for SCD.
Biogen Idec will be responsible for subsequent worldwide clinical development and commercialization of products arising from the alliance.
Sangamo retains an option to co-promote any licensed product to treat SCD and beta-thalassemia in the United States.
Biogen Idec will provide Sangamo with an upfront payment of $20 million and will reimburse Sangamo for its internal and external research and development program-related costs.
Sangamo may also receive additional payments of approximately $300 million based on the achievement of certain development, regulatory, commercialization and sales milestones, as well as double digit royalties on product sales.