Selecta suspends most of its pipeline to focus on gout drug

17 Aug 2023
firstwordpharma.com
Clinical ResultPhase 3License out/in
Selecta Biosciences on Thursday announced that it is freezing further investment in a majority of its pipeline, including ImmTOR-IL, and will shift focus instead on advancing its SEL-212 candidate for the treatment of chronic refractory gout. Selecta reiterated that a US marking application for SEL-212, which combines its ImmTOR immune tolerance platform with the uricase enzyme pegadricase, is still planned for the first half of 2024.
"We remain committed to SEL-212, a potentially…differentiated once-monthly, uricase-based treatment option for patients with chronic refractory gout, which we believe has the potential to exceed $700 million in peak sales in the US," said CEO Carsten Brunn.
In March, Selecta and partner Swedish Orphan Biovitrum (Sobi) top-lined Phase III data from the DISSOLVE I and II trials showing that SEL-212 met the primary endpoints of serum uric acid (sUA) control. Specifically, response rates, defined as achieving and maintaining a reduction in sUA
Recent lay-offs
Meanwhile, in order to preserve capital, Selecta said Thursday it plans to evaluate potential licensing and corporate development initiatives for its other pipeline assets, adding the pivot should help it extend its cash runway into 2027. The company had $115 million in cash, equivalents, restricted cash and marketable securities as of June 30. In May, Selecta announced that it would be laying off a quarter of its staff following a review of its portfolio and capital resources.
SobiSobi licensed SEL-212 from Selecta in 2020 in a deal worth up to $730 million, and is responsible for development, regulatory and commercial activities in all markets outside of China. Selecta has received an initial $100 million under the agreement.
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