Selecta Biosciences, Inc. - SELB STOCK NEWS

Selecta Biosciences (NASDAQ: SELB) announced a debt financing facility for up to $35 million with Oxford Finance and Silicon Valley Bank. The funds will retire $12.6 million of existing debt and support the advancement of Selecta's ImmTOR pipeline focused on gene therapy and autoimmune diseases. The financing is structured in two tranches: $25 million at closing, and another $10 million contingent on meeting development milestones for its gene therapy programs. The agreement allows for interest-only payments until at least April 2022.

Selecta Biosciences (NASDAQ: SELB) announced a strategic licensing agreement with Sobi for SEL-212, securing $100 million in initial payments and potential milestones up to $630 million. The Phase 3 clinical program for SEL-212 is set to commence in Q3 2020, with topline data from the COMPARE trial expected simultaneously. Additionally, a research license was granted to Sarepta for ImmTOR's application in neuromuscular diseases. Financially, Selecta reported a net loss of $24.1 million for Q2 2020, down from $16.4 million in Q2 2019, alongside a cash position of $61.4 million.

On August 3, 2020, Selecta Biosciences (NASDAQ: SELB) appointed Dr. Peter G. Traber as Chief Medical Officer, effective August 1, 2020. Dr. Traber, who previously served in an interim role, brings extensive experience from pharma and academia, enhancing the company’s clinical development efforts. He will oversee medical affairs and clinical strategy, focusing on advancing Selecta's ImmTOR platform for biologic therapies, gene therapy, and immunotherapies for autoimmune diseases. The appointment is seen as a strategic move to strengthen Selecta’s leadership in targeted immune tolerance.

On August 3, 2020, Selecta Biosciences (NASDAQ: SELB) announced CEO Carsten Brunn, Ph.D., will participate in two virtual investor conferences this month. The first is the William Blair Biotech Focus Conference on August 6 at 1:00 p.m. ET, followed by the Canaccord Genuity 40th Annual Growth Conference on August 13 at 2:30 p.m. ET. Webcasts will be accessible via the company’s website. Selecta focuses on biologic therapies, particularly its ImmTOR™ platform, which aims to improve biologic efficacy and treat chronic refractory gout with its candidate, SEL-212.

Selecta Biosciences (NASDAQ: SELB), a clinical-stage biotechnology firm, announced a conference call on August 6, 2020, at 8:30 a.m. ET to discuss its Q2 financial results and operational highlights. The call can be accessed by dialing specified phone numbers for domestic and international participants. Selecta focuses on its ImmTOR platform to enhance biologic therapies, including its product candidate SEL-212 for chronic refractory gout. The company has partnerships with biopharmaceutical firms to further its gene therapy initiatives.

On July 28, 2020, Selecta Biosciences (SELB) announced that its licensing agreement with Swedish Orphan Biovitrum (Sobi) for SEL-212 became effective after regulatory approvals were secured. Sobi will pay an upfront fee of $75 million and an additional $25 million as part of a private placement. SEL-212 aims to treat chronic refractory gout, a market estimated at over $1 billion in the US. Sobi is responsible for development and commercialization outside China and could lead to Selecta receiving up to $630 million in milestone payments, along with royalties on sales.

Selecta Biosciences and Sarepta Therapeutics have entered a Research License and Option agreement allowing Sarepta to explore Selecta's ImmTOR platform for potential use in Duchenne muscular dystrophy (DMD) and limb-girdle muscular dystrophies (LGMDs). This partnership aims to address the challenge of neutralizing antibody (NAb) formation against adeno-associated virus (AAV) in gene therapy. Selecta's ImmTOR could permit re-dosing of gene therapies, enhancing their effectiveness. An initial payment and milestone fees are stipulated, but further financial details remain undisclosed.

Selecta Biosciences and Sobi have announced a strategic licensing agreement for SEL-212, an innovative therapy for chronic refractory gout. This therapy utilizes Selecta's ImmTOR immune tolerance platform and aims to improve patient outcomes through durable uric acid control. Sobi will handle development and commercialization outside of China, while Selecta will conduct a Phase 3 trial. The deal includes an initial payment of USD 100 million and potential milestones up to USD 630 million, along with royalties on sales. The chronic refractory gout market is projected at over USD 1 billion in the US.

Selecta Biosciences (NASDAQ: SELB) announced its Q1 2020 financial results, reporting a net loss of $19.6 million, or $0.21 per share. Cash reserves have decreased to $74.3 million from $91.6 million. Despite challenges posed by the COVID-19 pandemic, the COMPARE trial for SEL-212 remains on track for topline data in Q3 2020. The Phase 3 clinical program is expected to begin in H2 2020, and a collaboration with AskBio aims to launch a gene therapy initiative by year-end. Research and development expenses rose to $14.7 million, driven by the ongoing clinical trials.