Selecta Biosciences rises on licensing deal for genetic disorder drug

Cartesian Therapeutics

09/01/2023 18:32

** Shares of drug developer Selecta Biosciences Inc  SELB.O 
up 10.6% at $1.36
        ** Stock among top percentage gainers on the Nasdaq
Biotechnology Index  .NBI  
  
    ** Co signs deal with Astellas Pharma Inc to develop and
license an antibody based drug to treat late-onset pompe disease
(LOPD) in adults    
    ** Pompe disease is a genetic disorder in which a complex
sugar called glycogen accumulates in the body’s cells
    ** The experimental drug, xork, is being tested as a
combination therapy with AT845, an investigational gene therapy
from Astellas - SELB
    ** SELB to receive $10 mln upfront payment and eligible to
receive up to $340 mln in milestone payments 
    ** SELB also expects data from late-stage study for
experimental drug to treat a type of inflammatory arthritis,
SEL-212, in Q1 this year
    ** SELB down ~53%, versus a 4.5% fall in the NBI in the past
12 months 
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))