PTC Therapeutics won a competitive bankruptcy auction to acquire Sangamo’s Fabry disease gene therapy program, ST-920 (isaralgagene civaparvovec), for $111 million upfront with up to $100 million in milestone payments tied to regulatory outcomes. The deal emerged after Sangamo filed for Chapter 11 in June, with PTC beating Astellas and TerSera to take the program rights. Sangamo had previously described rolling BLA submission components and an accelerated-approval pathway, with Phase 1/2 STAAR data showing participants discontinued enzyme replacement therapy after receiving the gene therapy. The ST-920 program is intended to restore alpha-galactosidase A production in Fabry disease. For PTC, the transaction is a high-upside, regulatory-dependent bet on a BLA-ready rare disease platform with a narrow patient population and clear clinical differentiation potential.