PTC Therapeutics won a competitive Sangamo bankruptcy auction for Sangamo’s Fabry gene therapy candidate ST-920 (isaralgagene civaparvovec). PTC’s bid brings $111 million upfront to Sangamo, plus up to $100 million tied to regulatory milestones, according to the terms described with the transaction. The deal emerged after Sangamo pursued strategic alternatives following its Chapter 11 filing in June, and it beat out bids from Astellas and TerSera Therapeutics. PTC positioned the acquisition as leverage of its existing rare-disease commercial infrastructure rather than a new in-house build. The asset is described as BLA-ready and one-time administered, designed to restore alpha-galactosidase A in Fabry disease. Sangamo had already submitted nonclinical and clinical modules of a rolling biologics license application under an agreed accelerated approval pathway with the FDA, which adds urgency around timing of the next regulatory steps.