PTC Therapeutics won an auction-stage deal to acquire portions of bankrupt Sangamo Therapeutics, including Sangamo’s Fabry disease program, for up to $264 million. The transaction structure includes an estimated $111 million upfront for the Fabry asset, with additional consideration tied to future milestones. Eli Lilly also secured technology from Sangamo for $50 million as part of the bankruptcy proceedings. For PTC, the Fabry program is positioned as an opportunity to enter or expand in the gene therapy market ahead of potential regulatory timelines. The auction outcome reshapes the competitive landscape for Fabry, where late-stage and near-approval assets often command strategic value. It also underscores how cash-rich developers are continuing to consolidate genetic medicine portfolios despite the bankruptcy process.