04:26 AM EST, 12/19/2024 (MT Newswires) -- (Updates with the stock move in the headline and the last paragraph.)

Sangamo Therapeutics ( SGMO ) has entered into a license deal granting Astellas Pharma worldwide rights to its neurotropic adeno-associated virus capsid, STAC-BBB, for neurological disease targets, the companies said Thursday.

The deal covers one neurological disease target with an option to add up to four additional targets.

The consideration for the deal includes a $20 million upfront license payment, potential payments of up to $1.3 billion in additional licensed target fees and milestone payments, as well as royalties on sales.

Shares of Sangamo jumped 11% in premarket activity.