Bengaluru: Selecta Biosciences, a U.S. based biopharmaceutical company, develops nanoparticle immunomodulatory drugs, announces that it has raised $38 million in its series E fundraising led by OrbiMed, a leading healthcare investor. Other investors like Sanofi-Genzyme BioVentures, Ridgeback Capital Management, Osage University Partners, AJU IB Investment and Sphera Global Health Care Fund also made significant contributions to the round. The company plans to shell-out the fresh capital to advance multiple candidates from the company’s Synthetic Vaccine Particles (SVP) platform and complete its ongoing Phase-I clinical program for SEL-212. This is Selecta’s second fundraising this year and prior to this, it had raised $5.2 million from undisclosed investors in April.
“With this oversubscribed round that includes a balance of crossover, strategic and venture investors, we are very pleased to see this strong support from the investor community for our antigen-specific immunotherapies. We now have the resources and investor base that will see us through the Phase 2 clinical development of SEL-212, the first non-immunogenic biologic therapy for gout, and the extension of our clinical pipeline into first ever non-immunogenic gene therapies and therapeutic biologics,” says Werner Cautreels, President & CEO, Selecta.
Speaking about the new investment, Carl Gordon, Partner, OrbiMed commented “Selecta has demonstrated leadership in the field of immune therapeutics and has made strong progress with a completely novel class of products addressing multiple therapeutic areas with significant unmet needs. We have great confidence in the high caliber management team and the rigorous science and clinical program behind SEL-212 and other immunotherapeutic candidates in Selecta’s robust pipeline. We look forward to supporting Selecta’s plans to open up new therapeutic opportunities and to bring innovative medicines to patients in need across a number of important disease areas, such as inhibition of immunogenicity of biologic therapies, treatment of allergies and treatment of autoimmune diseases”.
Founded in 2008 by Ulrich von Andrian, Omid Farokhzad and Robert S. Langer, Selecta Biosciences develops first generation nanoparticle immunomodulatory drugs to prevent and treat various human diseases. The company specializes in targeted immunomodulatory nanoparticles which are developed by combining recent techniques in immunobiology and cutting-edge nanotechnology. Its flagship product – SVP can successfully induce antigen-specific immune tolerance and can be used in a wide range of therapeutic areas where the medical needs are not met.