Sangamo keeps cash burn at a minimum as products move to phase 2 development

By Lisa Kerner

Charlotte, N.C., Nov. 15 - Sangamo BioSciences, Inc. has been very successful at "monetizing" its DNA technology, president and chief executive officer Edward Lanphier said at the JMP Securities Healthcare Conference in Boston on Thursday.

Lanphier noted that from 2002 through 2005, Sangamo burned less than $40 million of cash. The company expects to end the year with $52 million and a cash burn of $15 million. The balance sheet reflects 35 million shares outstanding, no debts and no warrants, according to Lanphier.

Sangamo differs from other companies offering therapeutic product platforms by its ability to function at the DNA level, Lanphier said. Its technology essentially turns genes on and off and has the ability to physically modify a gene.

Lanphier noted that the company is focused on diabetic neuropathy, an important, unmet medical need with a large population.

Sangamo is moving products into phase 2 development and has received $3 million from the Juvenile Diabetes Research Foundation for its programs.

The company also announced on Thursday that it completed multiple research milestones as part of the Research and Commercial License Agreement it signed with Dow AgroSciences LLC in October 2005.

The three-year agreement gives Dow access to Sangamo's proprietary zinc finger DNA-binding protein technology for the development of products in plants and plant cell cultures, said Lanphier.

Sangamo is based in Richmond, Calif., and develops novel DNA-binding proteins for therapeutic gene regulation and modification.

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