Bryan, Garnier & Co advises TxCell in its strategic review and subsequent EUR72 million sale to Sangamo Therapeutics to create a CAR-Treg leader

Bryan, Garnier & Co advises TxCell in its strategic review and subsequent EUR72 million sale to Sangamo Therapeutics to create a CAR-Treg leader

News published on July Monday 23, 2018
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TxCell (Euronext-listed) developed a proprietary Treg technological platform for the treatment of severe inflammatory and autoimmune diseases.

Sangamo Therapeutic (NYSE-listed) is a leader in gene therapy and recently entered into a partnership with Gilead to develop the next generation CAR-T therapies in oncology.

Sangamo expects to submit a clinical trial authorization application in Europe for TxCell’s investigational product candidate for solid organ transplant and to use its ZFN gene editing technology to develop next-generation autologous and allogeneic CAR-Treg cell therapies.

Transaction highlights

Bryan, Garnier & Co has previously raised funds for TxCell and for this transation, assisted the company in its strategic review to maximise the value of its platform.

Bryan, Garnier & Co succeeded in creating a competitive process with strategic bidders leading to attractive deal terms.

At €2.58 per share in cash, the offer represents approximately a 180% premium on the stock price at closing on July 20th 2018.

Bryan, Garnier & Co secured a control block of 53% of the company’s share capital including key shareholders and debt-provider Yorkville.

The simplified cash tender offer is expected to complete in Q4 2018.

The transaction is subject to few conditions precedent and to the authorization by the French Ministry of Economy pursuant to Laws applicable to foreign investments in France.

The transaction is another landmark deal for Bryan Garnier & Co’s Healthcare practice: our third deal in the vibrant CAR-T / TCR area and the 14th healthcare deal in 2018 to date.

About TxCell

TxCell is a biotechnology company that develops platforms for innovative, personalized T cell immunotherapies for the treatment of severe inflammatory and autoimmune diseases with high unmet medical need. TxCell is targeting transplantation as well as a range of autoimmune diseases (both T-cell and B-cell-mediated), such as multiple sclerosis, rheumatoid arthritis, inflammatory bowel diseases or inflammatory skin diseases. Based in Sophia-Antipolis, France, TxCell is listed on Euronext Paris and currently has 46 employees.


About Sangamo Therapeutics

Sangamo Therapeutics, Inc. is focused on translating ground-breaking science into genomic therapies that transform patients' lives using Sangamo’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy


About Bryan, Garnier & Co

Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Media & Telecoms, Healthcare, Smart Industries & Energy, Consumer, Brands & Retail and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Zurich and New York. The firm is a member of the London Stock Exchange and Euronext.


Deal team

Olivier Garnier
Managing Partner
T: +33 1 56 68 75 29

Hervé Ronin
T: +33 1 70 36 57 22

Dr. Anne Moore
Vice President
T: +33 1 56 68 75 39

Romain Ellul
Vice President
T: +33 1 70 36 57 22

Cosme Rosellini
Vice President
T: +33 1 56 68 75 28

Dr. Mickael Dubourd
T: +33 1 56 68 75 30

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