AskBio Licenses Rights To Selecta Biosciences' ImmTOR Immune Tolerance Platform For Treatment Of Pompe Disease; Selecta Eligible For Upfront And Milestone Payments Of Over $240M

  – Selecta eligible to receive upfront and milestone payments of over $240 million – – AskBio’s AAV gene therapy combined with ImmTOR could prevent the formation of neutralizing antibodies

Benzinga · 12/19/2019 13:27

 

– Selecta eligible to receive upfront and milestone payments of over $240 million –

– AskBio’s AAV gene therapy combined with ImmTOR could prevent the formation of neutralizing antibodies and potentially enable re-treatment of patients with Pompe disease –

WATERTOWN, Mass. and RESEARCH TRIANGLE PARK, N.C., Dec. 19, 2019 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ:SELB) and Asklepios BioPharmaceutical, Inc. (AskBio), today announced that the companies have entered into a license agreement. Under the terms of the agreement, AskBio has exercised its option to exclusively license rights to develop and commercialize Selecta’s immune tolerance platform, ImmTOR, for use in adeno-associated virus (AAV) gene therapy for the treatment of Pompe disease. When used in combination with AAV gene therapy vectors, Selecta’s ImmTOR has been shown to inhibit the immune response to the vector (Nature Communications, October 2018).

Selecta and AskBio previously announced a strategic partnership in August 2019 to jointly develop, manufacture, and commercialize targeted therapeutics for next-generation AAV gene therapies in areas of high medical need. Under the terms of this new license agreement, Selecta is eligible to receive upfront and milestone payments of over $240 million plus royalties on product sales.