Sangamo Therapeutics is now on a court-approved Section 363 auction track for substantially all of its assets, anchored by separate stalking-horse agreements for its Fabry disease program and neurological technology platform. The bidding procedures orderDkt. 122 approved those agreements and established the process for competing bids, contract assumption and assignment, and a sale hearing; no plan has yet been identified in the available record, so the immediate restructuring path is defined by the asset sales.
The genomic-medicine company filed Chapter 11 on June 23, 2026 after sustained operating losses and a sharp contraction in collaboration revenue. According to the first-day declarationDkt. 2, Sangamo recorded more than $478 million of net losses from 2023 through 2025, while revenue fell from $176.2 million to $39.6 million over that period amid the termination of a $220 million Pfizer collaboration agreement and a broader contraction in biotech investment. Sangamo entered bankruptcy without funded or secured debt but with substantial trade, employee and lease obligations. Before filing, it negotiated stalking-horse transactions under which Astellas would acquire the Fabry program for $25 million in cash plus up to $25 million of milestone consideration, while Merope Acquisition Sub, an Eli Lilly affiliate, would acquire neurological-platform assets for $50 million and assumed liabilities.
To preserve operations through the sale process, Sangamo sought a $30 million senior secured superpriority facility from Northridge ATM, with $10.5 million requested for interim availability, 12% cash interest and a December 30, 2026 outside maturity, as described in the . The next sale milestones are an August 4 bid deadline, an August 10 auction if qualified competing bids emerge, and an August 20 sale hearing; the also sets August 4 deadlines for sale objections and certain licensee elections. The near-term case therefore turns on whether the stalking-horse bids are topped and whether the resulting transactions are approved on the scheduled timetable.
