Selecta Biosciences Inc (NASDAQ:SELB) posts a loss of $24.1 million in Q2 2020. Its general and administrative expenses in Q2 2020 are $5.6 million, whereas R & D spending surged to $10.7 million.
Strengthens leadership in immune tolerance
President of Selecta, Carsten Brunn, said it is a transformative period for the company. It is strengthening its leadership position in immune tolerance. To unlock its ImmTOR immune tolerance platform’s full potential, the company entered a pact with Sobi to get funding. The funding will optimize the safety and efficacy of biologics and enable the redosing of gene therapies. It will use funds for developing innovative immunotherapies for the treatment of autoimmune diseases.
Advances gene therapy program
Selecta is committed to developing SEL-212. As per the terms of the pact, Sobi is responsible for commercial, regulatory, and development activities of SEL-212. In alliance with Sobi, the company will initiate Phase 3 clinical trials in Q3 2020 and report topline data of Phase 2 COMPARE trial. Sobi will bear all the expenses for the Phase 3 clinical trial. It will provide $100 million as an initial payment to Selecta.
Selecta will also advance its gene therapy in MMA (methylmalonic academia) in H1 2021 to the clinic. It also prepares for IND submission for autoimmune disease treatment in 2021.
Signs RLOA agreement with Sarepta
Selecta inked an RLOA (Research License and Option Agreement) with Sarepta to provide its ImmTOR for curing certain neuromuscular diseases. Sarepta will use ImmTOR to treat LGMDs (limb-girdle muscular dystrophies) and DMD (Duchenne muscular dystrophy).
Sarepta will engage in the investigational study of gene therapies and ImmTOR to reduce the creation of neutralizing antibodies. Under the terms of the agreement, Selecta already received initial payment and expects to get fees for certain pre-clinical milestones.
Selecta confirmed Peter G. Traber as a full-time Chief Medical Officer with effect from August 1, 2020, from the current position of interim CMO. Peter brings significant experience in academia, biotech, and pharma companies. He is responsible for overseeing clinical strategy and development, program management, medical affairs, and clinical and scientific advisory services for business development.