Sangamo Therapeutics, Inc., a Richmond, California-based genomic medicine company built on proprietary ZFP, SIFTER, and MINT platforms, is in the opening weeks of a Chapter 11 Section 363 sale process in the District of Delaware (Case No. 26-10989) before Judge Craig T. Goldblatt, having filed voluntary on June 23, 2026 with $162.36 million in assets against $115.35 million in liabilities and no prepetition funded or secured debt Voluntary PetitionDkt. 1. The filing followed net losses exceeding $478 million across 2023–2025 and a 77% revenue decline from $176.2 million to $39.6 million, driven by the termination of a $220 million Pfizer collaboration and a contraction in biotech financing that led to the company's Nasdaq delisting in May 2026 Willoughby DeclarationDkt. 2.
The debtor is pursuing a two-track sale backed by stalking horse agreements—an Astellas bid for the Fabry disease program at $25 million cash plus up to $25 million in milestones, and a Merope (Eli Lilly) bid for the neurological technology platform at $50 million plus assumed liabilities—funded during the cases by a $30 million senior secured superpriority DIP facility from Northridge ATM, LLC at 12.0% with a December 30, 2026 maturity Willoughby DeclarationDkt. 2. Unsecured exposures center on $19.2 million in trade payables, $16.3 million in employee-related liabilities, and $4.0 million in rent, with Brammer Bio ($8.76 million), Laboratory Corporation of America ($1.72 million), and PPD Development ($1.43 million) as the largest claims .
The U.S. Trustee appointed a five-member Official Committee of Unsecured Creditors on July 2, 2026 Committee Appointment NoticeDkt. 86, and a shareholder letter has already challenged the Astellas valuation as inadequate, urging a single-buyer sale to Lilly and contingent value rights for equity holders Ferguson LetterDkt. 85. The section 341(a) meeting of creditors is set for July 28, 2026 via Zoom, with the section 523(c) complaint bar date of September 28, 2026 Notice of Chapter 11 CaseDkt. 87, as general status and claims-administration hearings on July 15 and July 21, 2026 carry the case toward final DIP approval and the sale process.
