Cooley advised Sangamo Therapeutics, a clinical-stage biotechnology company, in its global licensing collaboration agreement with Biogen for the development and commercialization of gene regulation therapies for Alzheimer’s, Parkinson’s, neuromuscular and other neurological diseases.
Under the terms of the agreement, Sangamo will receive $225 million from the purchase by Biogen of newly issued Sangamo stock as well as an upfront license fee of $125 million. Additionally, Sangamo is eligible to earn up to $2.37 billion in other development, regulatory and commercial milestone payments, including up to $925 million in pre-approval milestone payments and up to $1.445 billion in first commercial sale and other sales-based milestone payments. Sangamo is also eligible to earn tiered high single-digit to sub-teen double-digit royalties on potential net commercial sales of products arising from the collaboration.