SANGAMO THERAPEUTICS, INC. (NASDAQ:SGMO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 21, 2017, Dr. Dale Ando and Sangamo Therapeutics, Inc. (the “Company”) entered into a separation agreement (the “Separation Agreement”). Dr. Ando’s last day of employment with the Company was February 3, 2017 (the “Termination Date”). to the Separation Agreement, Dr. Ando will provide certain transition services relating to his previous responsibilities and projects to the Company’s Chief Medical Officer for a period of six (6) months following the Termination Date. In connection with the execution of the Separation Agreement, Dr. Ando will receive: (i) continued payment of Dr. Ando’s base salary in effect on the Termination Date for a period of twenty-six (26) weeks in accordance with normal payroll practices and (ii) a payment in cash of approximately $120,000 less applicable taxes payable on the first payroll date that is administratively practicable, an amount he would have received under the Company’s bonus program had he remained at the Company. In addition, Dr. Ando will release the Company and its affiliates from any claims that he may have related to his employment with the Company and any claims for severance pay or other compensation.
The foregoing description is a summary and qualified in its entirety by the Separation Agreement, a copy of which the Company intends to file as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ending March 31, 2017.
About SANGAMO THERAPEUTICS, INC. (NASDAQ:SGMO)
Sangamo Therapeutics, Inc., formerly Sangamo BioSciences, Inc., is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy. The Company has developed technologies available for gene-based therapies. Its product pipeline includes SB-525, SB-FIX, SB-318, SB-913, SB-728-T and SB-728-HSPC. Its zinc finger nuclease (ZFN) in vivo genome editing approach is being evaluated in Phase I/II clinical trials to treat hemophilia B and lysosomal storage disorders mucopolysaccharidosis (MPS) I and MPS II. It is also conducting a Phase I/II clinical trial to evaluate its adeno associated virus (AAV) complementary deoxyribonucleic acid (cDNA) human Factor 8 gene therapy approach, SB-525, to treat hemophilia A. It has investigational new drug application for SB-525. It is also developing ZFN-mediated genome editing-based therapies for blood disorders and cancer. SANGAMO THERAPEUTICS, INC. (NASDAQ:SGMO) Recent Trading Information
SANGAMO THERAPEUTICS, INC. (NASDAQ:SGMO) closed its last trading session up +0.15 at 4.00 with 642,669 shares trading hands.
