Selecta Biosciences, Inc., a clinical stage biotechnology company developing a novel class of targeted antigen-specific immune therapies, announced today that it has completed a $38 million Series E equity financing. Proceeds from the financing will be used to advance multiple product candidates from Selecta’s Synthetic Vaccine Particles (SVP) platform, which creates antigen-specific immunotherapeutics, with priority implementation of the clinical program for Selecta’s lead immunotherapeutic candidate, SEL-212, which is designed to be the first non-immunogenic biologic therapy for gout. The largest investor in this Series E round is OrbiMed, a leading institutional healthcare investor, and includes new investors, Sanofi-Genzyme BioVentures, Ridgeback Capital Management, Osage University Partners, AJU IB Investment and Sphera Global Health Care Fund, along with participation from all of Selecta’s existing investors.
The Series E financing will allow Selecta to complete the on-going Phase 1 clinical program for SEL-212 in refractory and tophaceous gout, and then initiate a multi-dose ascending phase 2 study which is planned to start in 2016. Proceeds from the financing will also be used to advance the company’s preclinical pipeline of antigen-specific immunotherapeutics toward clinical development, which includes candidates that are designed to prevent the life threatening rejections that are a key unmet medical need of gene therapies and Factor VIII therapies. Selecta is additionally developing first-in-class therapies for an undisclosed food allergy, celiac disease and type 1 diabetes, all in collaboration with Sanofi, whose venture capital division Sanofi-Genzyme BioVentures is an investor in this financing round.