Sangamo Therapeutics Files Chapter 11, Selects Asset Sale Bids

What Happened

• Sangamo Therapeutics, Inc. filed a voluntary petition for relief under Chapter 11 on June 23, 2026 (In re Sangamo Therapeutics, Inc., Case No. 26-10989, D. Del.). On August 12, 2026 the company announced it concluded a court-supervised Section 363 auction, selecting winning bids from PTC Therapeutics, Inc. and Eli Lilly and Company. The winning bids yield approximately $163.55 million in cash at closing, plus up to $100 million in potential future milestone payments. The company furnished a press release dated August 12, 2026 as Exhibit 99.1 to the Form 8-K.

Key Details

• Chapter 11 filing date: June 23, 2026; Bankruptcy Court: District of Delaware; Case No. 26-10989.
• Auction closing consideration: ~$163.55 million cash at closing.
• Potential additional payments: up to $100 million in future milestone payments.
• Sales remain subject to final Bankruptcy Court approval, regulatory clearances (including Hart‑Scott‑Rodino review), and other customary closing conditions.

Why It Matters

• For investors, the announced asset-sale bids are the most concrete step toward monetizing parts of Sangamo’s business during its Chapter 11 process; the cash and potential milestone payments could affect recoveries for creditors and any equity holders only if approvals and closings occur. The outcome still depends on court approval and regulatory clearance, so the amounts reported are not guaranteed until closing conditions are satisfied.