News

Selecta Biosciences Announces Pricing of Public Offering of Common Stock

January 23, 2019

Selecta Biosciences, Inc. (Nasdaq: SELB) (“Selecta”), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform technology, ImmTOR (SVP Rapamycin), today announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock, at a public offering price of $1.50 per share, before underwriting discounts and commissions. Selecta also granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $30.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering are to be sold by Selecta. The offering is expected to close on or about January 25, 2019, subject to customary closing conditions.

Stifel is acting as book-running manager for the offering. Canaccord Genuity and Needham & Company are acting as co-lead managers, and Janney Montgomery Scott is acting as co-manager for the offering.

Selecta intends to use the net proceeds from the offering, in addition to its existing cash resources, to advance the clinical development of SEL-212, including the completion of a head-to-head superiority trial of SEL-212 compared to the current FDA-approved uricase therapy, completion of the Phase 2 clinical trial and preparations for a Phase 3 clinical trial, for other pre-clinical programs, including gene therapy development work, and for other operational activities and general corporate purposes.