PTC to expand rare disease portfolio with ST-920 buy

USA-based rare disease drug developer PTC Therapeutics (Nasdaq: PTCT) announced that it was selected as the winning bidder to acquire ST-920 – a biologics license application (BLA)-stage one-time administered AAV gene therapy for Fabry disease – from Sangamo Therapeutics in a competitive bankruptcy auction.

"This transaction advances our strategy of leveraging our accomplished existing rare disease global commercial infrastructure to accelerate short- and intermediate-term revenue growth," said Dr Matthew Klein, chief executive, adding: "The ST-920 gene therapy program puts another innovative and valuable product in the demonstrated capable hands of our customer-facing teams. This was a unique opportunity with the potential for significant return on investment without the need for any development or commercial build and without impacting our objective of reaching cashflow break even in 2026. We look forward to working to bring ST-920 to all individuals who may benefit from this therapy as quickly as possible."