$121M later, Langer-backed Selecta raises $70M more from its IPO
Selecta Biosciences ($SELB) landed on Nasdaq with a slight limp, raising $70 million after pricing a bumped-up batch of shares at $14 — the low end of its range.
In this market, for a biotech that isn’t directly engaged in gene editing, that’s cause for celebration, though Selecta execs may choose from the less expensive brands of Champagne for the going-public party.
MIT investigator Robert Langer, Omid Farokhzad and Ulrich von Andrian of the Harvard Medical School provided the scientific firepower required to launch Watertown, MA-based Selecta, which has been steadily advancing a new synthetic nanoparticle technology to block an unwanted immune system attack, thwarting an anti-drug antibody response that can be kicked up by a variety of biologics.
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