PTC Therapeutics won a competitive bankruptcy auction for Sangamo Therapeutics’ Fabry disease gene therapy program, securing the ST-920 (isaralgagene civaparvovec) asset after beating bids from Astellas and TerSera Therapeutics. Sangamo will receive $111 million upfront from PTC, plus as much as $100 million in milestone payments tied to regulatory outcomes. The transaction consolidates the ST-920 franchise ahead of expected regulatory scrutiny. Sangamo had previously advanced a rolling biologics license application under an agreed accelerated approval pathway with the FDA, with Phase I/II STAAR data supporting the program’s potential efficacy and durability after enzyme replacement therapy withdrawal. Industry observers will be tracking how quickly PTC can transition the BLA-ready package, manage the program’s remaining regulatory steps, and position the therapy against existing Fabry treatments. Separately, the process underscores the volatility of gene-therapy portfolios when companies restructure under bankruptcy pressures.