Selecta Biosciences Shares Rise 11% After Licensing Deal With Astellas Pharma

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 [e-mail]

(END) Dow Jones Newswires

January 09, 2023 10:34 ET (15:34 GMT)

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