PTC Therapeutics won bankruptcy-auction rights for a Sangamo gene therapy program targeting Fabry disease, securing a $211 million bid that tees up an entry point near potential regulatory milestones. Under the structure described across related deal coverage, PTC will fund Sangamo with an $111 million upfront payment and additional contingent milestones tied to approvals. The transaction also reflects the fragility of late-stage gene therapy portfolios as strategic alternatives can fail to rescue cash-burning programs. For Fabry, the buyer’s thesis is that re-positioned development may unlock regulatory momentum where earlier paths stalled.