Skip to main content
Premium Trial:

Request an Annual Quote

Sangamo Biosciences Has Option to Acquire Gendaq in Stock Deal Worth $40M

NEW YORK, May 30 - Sangamo Biosciences said Wednesday it has obtained the option to acquire privately-held Gendaq in a stock-for-stock deal worth $39.7 million.

Sangamo, which is currently completing due diligence, has until July 14 to exercise its option to acquire Gendaq, a London-based developer of zinc finger DNA binding proteins for gene regulating gene expression. 

Under the terms of the proposed agreement, Sangamo, in Richmond, Calif., has the right to purchase all of Gendaq's outstanding stock and employee stock options in exchange for 2.25 million shares of Sangamo stock, or about 10 percent of Sangamo's outstanding shares. Based on Sangamo's Tuesday closing price of $17.62 on the Nasdaq, the deal is valued at about $39.7 million.

Sangamo is also developing gene regulation technology using zinc finger proteins, which bind with a selected gene and then act to up or down-regulate its expression. 

Gendaq's research springs from the MRC Laboratory of Molecular Biology in London, where two of the founders, Aaron Klug and Yen Choo worked together prior to starting Gendaq. The company currently employs 16 scientists, has applied for 24 patents in zinc finger technology, and holds $6 million in cash, according to a statement.

Separately, Sangamo said yesterday its chief scientific officer, Alan Wolffe, had died in a traffic accident while attending a recent international scientific meeting.

The Scan

Wolf Howl Responses Offer Look at Vocal Behavior-Related Selection in Dogs

In dozens of domestic dogs listening to wolf vocalizations, researchers in Communication Biology see responses varying with age, sex, reproductive status, and a breed's evolutionary distance from wolves.

Facial Imaging-Based Genetic Diagnoses Appears to Get Boost With Three-Dimensional Approach

With data for more than 1,900 individuals affected by a range of genetic conditions, researchers compared facial phenotype-based diagnoses informed by 2D or 3D images in the European Journal of Human Genetics.

Survey Suggests Multigene Cancer Panel VUS Reporting May Vary Across Genetic Counselors

Investigators surveyed dozens of genetic counselors working in clinical or laboratory settings, uncovering attitudes around VUS reporting after multigene cancer panel testing in the Journal of Genetic Counseling.

Study Points to Tuberculosis Protection by Gaucher Disease Mutation

A mutation linked to Gaucher disease in the Ashkenazi Jewish population appears to boost Mycobacterium tuberculosis resistance in a zebrafish model of the lysosomal storage condition, a new PNAS study finds.