Sangamo Therapeutics Inc., a genomic medicine company, has reported business highlights and second quarter 2024 financial results.
 
Revenues for the second quarter ended June 30, 2024 were $0.3 million, compared to $6.8 million for the same period in 2023, a decrease of $6.5 million.
 
This decline was primarily attributed to decreases of $2.4 million and $2.2 million in revenues relating to Sangamo’s prior collaboration agreements with Biogen and Novartis, respectively, due to the termination of those collaboration agreements in June 2023, a decrease of $1.2 million in revenue relating to its collaboration agreement with Kite which expired pursuant to its terms in April 2024, and a decrease of $0.5 million in revenue relating to its license agreements with Sigma-Aldrich Corporation and Ligand Pharmaceuticals Inc.
 
On a positive note, the company announced a global epigenetic regulation and capsid delivery license agreement with Genentech, a member of the Roche Group, to develop novel genomic medicines for neurodegenerative diseases.
 
Also, Pfizer announced positive topline results from the Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec, an investigational gene therapy that Sangamo is co-developing with and licensing to Pfizer for the treatment of adults with moderately severe to severe hemophilia A.
 
Lastly, dosing was completed in the Phase 1/2 STAAR study of isaralgagene civaparvovec, an investigational gene therapy for the treatment of Fabry disease, with a total of 33 patients dosed.
 
“Sangamo has demonstrated important progress over the last few months, with the announcement of a significant business development agreement with Genentech earlier today; positive topline results from the Phase 3 AFFINE trial in Hemophilia A we are developing with Pfizer; and highly encouraging Phase 1/2 data continuing to accumulate from our wholly-owned Fabry disease program – all of which have the potential to meaningfully extend our cash runway as we continue to advance our wholly owned neurology epigenetic regulation pipeline,” said Sandy Macrae, CEO of Sangamo. “Our license agreement with Genentech – the first in what we hope could be multiple capsid collaborations to come with other potential partners – reinforces the potential of our gene editing and STAC-BBB capsid delivery platforms. Our core, and highly focused, neurology pipeline continues to advance as planned and we look forward to providing further updates.”
 
Overall, Sangamo is optimistic about its pipeline and financial position, with a focus on advancing its neurology epigenetic regulation programs and exploring new business opportunities.