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Sigilon Therapeutics, Inc. (NASDAQ: SGTX) is a biopharmaceutical company based in Cambridge, MA, dedicated to developing functional cures for a wide range of acute and chronic diseases. Utilizing its proprietary Shielded Living Therapeutics™ platform, the company engineers cell-based therapies designed to replace or supplement missing or deficient functions or molecules in patients.
Sigilon's innovative approach involves encapsulating engineered cells in its Afibromer™ biomaterials matrix, which protects them from immune rejection. These cells are then used to produce therapeutic molecules continuously, offering a potentially transformative treatment for diseases such as diabetes. The lead product candidate, SIG-002, aims to treat type 1 diabetes by sensing blood glucose levels and restoring insulin production.
In a significant development, Sigilon Therapeutics recently entered into a definitive agreement with Eli Lilly and Company (NYSE: LLY) for acquisition. This partnership, which has been in collaboration since 2018, focuses on developing encapsulated cell therapies, including SIG-002. Lilly will acquire Sigilon for approximately $34.6 million in cash, along with contingent value rights that could lead to additional payments, potentially totaling $309.6 million.
Rogerio Vivaldi, M.D., CEO of Sigilon, expressed optimism about the merger, emphasizing that Lilly's expertise in diabetes treatment will further advance SIG-002, potentially offering significant benefits to patients. The transaction, expected to close in the third quarter of 2023, will result in Sigilon becoming a wholly-owned subsidiary of Lilly.
Founded by Flagship Pioneering with input from renowned researchers at MIT, Sigilon has made remarkable strides in cell therapeutics. The company's mission is to harness the full power of cell therapy to offer innovative solutions to challenging medical conditions, aiming to improve the quality of life for millions worldwide.
The acquisition by Lilly is expected to enhance Sigilon's research and development capabilities, with both companies focusing on bringing innovative treatments to market. The merger also underscores Sigilon's potential in the biopharmaceutical sector, particularly in the field of diabetes care.
Sigilon Therapeutics, a biotechnology company listed on NASDAQ under the symbol SGTX, announced that its CEO, Rogerio Vivaldi, M.D., will present a corporate overview at the Needham Virtual Healthcare Conference on April 20, 2023, at 10:15 a.m. EDT. The presentation will be available via a webcast on the company’s investor website, with a replay accessible for 90 days post-event.
Sigilon is focused on developing functional cures for acute and chronic diseases through its Shielded Living Therapeutics™ platform, utilizing engineered cell-based therapies encapsulated in Afibromer™ biomaterials to prevent immune rejection. The company aims to address various diseases, including diabetes, by providing therapeutic solutions that are currently lacking in patients.
Sigilon Therapeutics reported 2022 Q4 and year-end results, focusing on its lead diabetes program, SIG-002. The company is advancing IND-enabling activities with non-human primate studies expected in H2 2023. SIG-002 has shown efficacy in mouse models for up to 17 weeks. As of December 31, 2022, cash and equivalents were $69.6 million, down from $123.4 million in 2021, primarily due to $51.5 million in operating expenses. R&D expenses decreased to $5.9 million from $14.7 million year-over-year, allowing the anticipated cash runway to extend into 2025. The company looks forward to an IND submission in 2024.
Kytopen, a biotechnology company, has established a Scientific Advisory Board (SAB) to enhance its research and development efforts in gene-modified cell therapies. This newly formed board comprises experts from various fields, aiming to support Kytopen's mission of improving patient access to engineered living medicines. The board will guide current and future innovations, collaborating closely with Kytopen's leadership. Notable members include Cullen Buie, the chair, and Omid Veiseh, a co-founder of Sigilon Therapeutics. Kytopen's proprietary Flowfect® technology aims to streamline the genetic modification process.
Sigilon Therapeutics, Inc. (NASDAQ: SGTX) reported Q3 2022 financial results, highlighting significant progress in its Shielded Living Therapeutics™ platform, with advancements in optimizing cross-linking chemistry and predictive models for pericapsular fibrotic overgrowth (PFO). Cash reserves decreased to $78.3 million from $123.4 million year-over-year. R&D expenses dropped to $8.3 million, reflecting a strategic reprioritization of programs, while net loss decreased to $8.7 million from $20.2 million. The company anticipates initiating IND-enabling studies for its diabetes and MPS-1 programs in H2 2023.
Sigilon Therapeutics (NASDAQ: SGTX) reported its Q2 2022 results on August 4, highlighting ongoing preclinical studies and a focus on its MPS-1 program. The company aims to address pericapsular fibrotic overgrowth impacting hemophilia therapies and plans to report preclinical results in H2 2022. Cash reserves decreased to $88.2 million from $123.4 million, projected to support operations until 2024. R&D expenses fell to $11.9 million, while general and administrative expenses remained steady at $5 million. The net loss decreased to $14.3 million, reflecting strategic cost-saving measures.
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