Selecta Biosciences Shares Rise 11% After Licensing Deal With Astellas Pharma
10 January 2023 - 2:49AM
Dow Jones News
By Chris Wack
Selecta Biosciences Inc. shares were up 11% at $1.37 after the
company said it has entered into an exclusive licensing and
development agreement for IdeXork with Astellas Pharma Inc.
Xork is being studied as a potential next-generation
immunoglobulin G protease that will be developed by Astellas for
use with AT845, an investigational, adeno-associated virus-based
treatment for Late-Onset Pompe disease in adults.
Under the terms of the agreement, Selecta will receive a $10
million upfront payment and is eligible to receive up to $340
million for certain additional development and commercial
milestones plus royalties on any potential commercial sales where
Xork is used as a pre-treatment for AT845.
Selecta is responsible for the development and manufacturing of
Xork and will maintain the rights for the development of additional
indications beyond Pompe disease. Astellas would have the sole and
exclusive right to commercialize Xork for use in Pompe disease with
an Astellas gene therapy investigational or authorized product,
with a current focus on AT845.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 09, 2023 10:34 ET (15:34 GMT)
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