Sangamo to develop blood disorder drugs with Biogen

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Sangamo to develop blood disorder drugs with Biogen

(Reuters) - Sangamo Biosciences Inc said it would collaborate with Biogen Idec Inc to develop treatments for a group of inherited blood disorders in a deal for up to $320 million. Sangamo shares jumped as much as 30 percent to a six-year high of $17.73 on the Nasdaq on Thursday morning. Biogen will use Sangamo's genome-editing technology to develop drugs targeting sickle cell disease and beta-thalassemia. It will provide Sangamo $20 million upfront and reimburse costs related to research and development.

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