Cartesian Therapeutics, Inc. (United States)

April 4, 2024Announcement no. 6 Notice convening the Annual General Meeting in BioPorto A/S The Board of Directors hereby convenes the Annual General Meeting of BioPorto A/S (“BioPorto” or the “Company”) to be held on: Tuesday April 30, 2024, at 3.00 p.m. (CEST)At the Company’s addressTuborg Havnevej 15, st., DK-2900 Hellerup, Denmark AGENDA: ITEM 1 - REPORT ON THE COMPANY’S ACTIVITIES DURING THE PAST YEAR The Board of Directors proposes that the Board's report on the Company’s activities for the past year be noted. ITEM 2 – PRESENTATION OF THE ANNUAL REPORT FOR APPROVAL AND ALLOCATION OF PROFIT OR COVERING OF LOSS The Board of Directors proposes that the annual report be approved and that the result for the financial year 2023 be carried forward to the next financial year. ITEM 3 - RESOLUTION TO GRANT DISCHARGE OF LIABILITY TO THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT The Board of Directors proposes that discharge of liability be granted to the Board of Directors and Executive Management. ITEM 4 - PRESENTATION OF THE REMUNERATION REPORT FOR AN ADVISORY VOTE The Board of Directors proposes that the Company’s Remuneration Report for the financial year 2023 be approved by an advisory vote. The Remuneration Report 2023 covers remuneration for the financial year 2023 awarded to members of the Company’s Board of Directors and Executive Management. The Remuneration Report 2023 is available on the Company’s website. ITEM 5 - APPROVAL OF REMUNERATION FOR THE BOARD OF DIRECTORS The Board of Directors proposes that the Annual General Meeting approves the following cash remuneration for the members of the Board of Directors for the financial year 2024 (all unchanged compared to 2023): Members of the Board of Directors – DKK 250,000Vice Chair of the Board of Directors – DKK 350,000Chair of the Board of Directors – DKK 500,000 Board members shall furthermore be entitled to remuneration for participation in committees of DKK 25,000 per committee with an overall maximum remuneration for participation in committees of DKK 50,000 per board member. The Chair and Vice Chair are not entitled to receive additional remuneration for participation in committees. In respect of members of the Board of Directors that are not Danish tax residents, additional contributions will be paid to achieve tax equalization, whereby the relevant members of the Board of Directors are placed as if they were taxed only in the jurisdiction where they are tax resident. In case board members also hold officer or directorships in subsidiaries of the Company, the above-mentioned fees and contributions constitute the aggregate maximum amounts payable for all officer or directorships held in the group. ITEM 6 - ELECTION OF MEMBERS TO THE BOARD OF DIRECTORS According to the Articles of Association, all members of the Board of Directors are up for election at each year’s Annual General Meeting. The Board of Directors proposes re-election of the following board members: John Patrick McDonough, Ninfa Saunders, Michael S. Singer and Don M. Hardison. In addition, the Board of Directors proposes the election of Henrik Juuel and Tonni Bülow-Nielsen as new members of the Board of Directors. Peter M. Eriksen will not seek re-election at the General Meeting. The background of each candidate is described below and information on the current board members’ management positions is also included in the annual report for 2023. All candidates are considered independent according to the Danish Corporate Governance Recommendations. John McDonough, Chair (born 1959, American nationality) has been a member of BioPorto’s Board of Directors since 2021 and currently serves as the chairman of the Board of Directors. John McDonough previously served as President and chief executive officer, of T2 BioSystems, Inc., a diagnostics company focused on the rapid detection of sepsis-causing pathogens. John held several positions at Cytyc Corporation, a company focused on women’s health, and ultimately served as president of Cytyc Development Corporation. He also led the efforts that resulted in Cytyc’s acquisition by Hologic Inc. for over $6 billion. John McDonough is currently Executive Chairman of the Board of Directors at Sunbird Bio and chairman of the board at Cytrellis Biosystems. He earned his undergraduate degree in business from Stonehill College. Don Hardison, Jr., Vice Chair (born 1950, American nationality) has been a member of BioPorto’s Board of Directors since 2021. Don Hardison most recently served as President, Chief Executive Officer, and as a member of the board of Board of Directors of Biotheranostics, Inc., an oncology-focused molecular diagnostics company which was acquired by Hologic Inc. Prior to Biotheranostics, he was the President and Chief Executive Officer and Director of Good Start Genetics, a molecular diagnostics company focused on reproductive health. Earlier in his career, he held many executive and senior management positions at a number of public companies including Laboratory Corporation of America and Quest Diagnostics, the two largest US clinical laboratories; Exact Sciences Corporation, a molecular diagnostics company; and SmithKline Beecham Corporation, a pharmaceutical company. He currently serves on the Board of Directors of publicly held companies Cytek Biosciences and mdxhealth and several privately held companies including Stemina Biomarker Discovery., YourBio, Decode Health, Breathe BioMedical, Arima Genomics and GeneCentric. He also served as President and CEO and a director of Exact Sciences Corporation, through its initial public offering and the initial years of being a public company. He received his Bachelor of Arts in Political Science from the University of North Carolina, Chapel Hill. Michael Singer, MD, PhD (born 1973, American nationality) has been a member of BioPorto’s Board of Directors since 2019. He is currently Chief Scientific Officer (CSO) and co-founder of Cartesian Therapeutics, Inc, a US biotech company that develops RNA-modified cell therapies. Prior to founding Cartesian, he was co-founder and CSO of two startups: Topokine and HealthHonors. Dr. Singer previously served as Director of Translational Medicine at the Novartis Institutes for Biomedical Research. He is a licensed physician and has been admitted to practice patent law. He serves as an adjunct professor at the Yale University School of Medicine. Dr. Singer completed residency at Harvard and holds a BS, MD, and PhD from Yale University. Ninfa Saunders (born 1959, American nationality) has been a member of BioPorto’s Board of Directors since 2023. Ninfa has over 50 years of healthcare experience from the bedside as a Clinical Nurse Specialist, to C-Suite roles, topping of her career as President and CEO of multi-hospital systems. She maintained a laser focus on strategy, operations and people while optimizing patient care and enhancing the bottom line. She created innovative strategies that accelerated growth, strengthened operations and saved lives. As CEO of Navicent Health, Ninfa expanded the hospital’s reach in Georgia through mergers and acquisitions, partnerships, new service lines and a strategic alliance with 30+ hospitals region-wide. In 2019, she orchestrated a merger with Charlotte based Atrium Health to position Navicent for future growth and sustainability. Since her retirement in 2020, she has served on the Board of Directors for Horizon Blue Cross Blue Shield,NJ, Quorum Health, Pipeline Health and T2 Biosystems. She serves on the Compensation Committee, Audit. Committee, Finance Committee and Governance Committee. Ninfa is a seasoned healthcare executive sought after for her competencies in all areas of leadership, management and governance. Henrik Juuel (born 1965, Danish nationality) has been EVP & CFO for Bavarian Nordic A/S since 2018. Prior to Bavarian Nordic, he served as CFO for Orexo AB, a Swedish specialty pharmaceutical company listed on the Nasdaq Stockholm exchange and prior to that held senior positions at various companies including CFO of GN ReSound, CFO of Virgin Mobile (Central and Eastern Europe) and CFO of NNE Pharmaplan. He began his career at Novo Nordisk in 1992 and during his 15-year tenure with the company held several senior finance positions in Denmark and abroad. He holds an MSc in Economics and business administration from University of Aarhus (DK) and University of Leuven (B). Tonni Bülow-Nielsen (born 1958, Danish nationality) is currently Partner in EIFO’s direct Lifescience investments and is on the Board of Directors in the following portofolio companies: Evosep ApS, Cathvision ApS, Reapplix A/S, TeesuVac ApS and Microshade A/S. He is also Chair of the Board in 2cureX (and its wholly owned subsidiary), a Swedish Nasdaq listed company, member of the Board of Directors in two privately owned companies ( Arcedi Biotech Aps and ILS Denmark Aps) and sole member of the executive board in Bülow-Nielsen Holding ApS (and its wholly-owned subsidiary). Tonni earned his E*MBA from SIMI/CBS. ITEM 7 - ELECTION OF AUDITOR The Board of Directors proposes re-election of Deloitte Statsautoriseret Revisionspartnerselskab (“Deloitte”), company registration number 33963556, as the Company’s auditor. The proposal is based on the recommendation of the Audit Committee. The Audit Committee’s proposal has not been influenced by third parties and is not subject to contractual obligations restricting the General Meeting’s choice of certain auditors or audit firms. ITEM 8 - PROPOSALS FROM THE BOARD OF DIRECTORS Items 8.a(i)-(ii) – Proposal to renew authorizations to increase the share capital with and without pre-emptive rights To secure the basis for future financing rounds, the Board of Directors proposes that (i) the authorization in article 17a of the Articles of Association to increase the Company’s share capital with pre-emptive rights be renewed, and (ii) the authorization in article 17b of the Articles of Association to increase the Company’s share capital without pre-emptive rights at market value be renewed with revised limit. The aggregate share capital increases with pre-emptive rights (agenda item 8.a(i)) shall be subject to the existing limit of nominally DKK 125,000,000. For share issues without pre-emptive rights (agenda item 8.a(ii)), the aggregate share capital increase shall be subject to a revised combined limit of nominally DKK 125,000,000. Both authorizations are proposed to apply until the third anniversary of the General Meeting. The two authorizations will remain subject to an aggregate limit of nominally DKK 150,000,000 as presently included in Article 17c. The proposed authorizations would result in the current Article 17 being replaced by the following: “Article 17a The board of directors is authorised until April 30, 2027, to increase the share capital of the Company on one or more occasions, with pre-emptive subscription rights for existing shareholders, by up to nominally DKK 125,000,000 in total. Article 17b The board of directors is authorised until April 30, 2027, to increase the Company’s share capital on one or more occasions, without pre-emptive subscription rights for existing shareholders, by up to nominally DKK 125,000,000. Any capital increase pursuant to this authorization shall be effected at market price as determined by the Board of Directors. Article 17c The aggregate maximum share capital increase which may be completed pursuant to the authorizations set out in Articles 17a and 17b shall be nominally DKK 150,000,000. Capital increases pursuant to Articles 17a and 17b may be completed against cash payment, by debt conversion or by the contribution of assets other than cash. The new shares shall be negotiable securities, be registered in the name of the holder and be paid in full. No restrictions shall apply to the transferability of the new shares. The board of directors is authorised to amend the Articles of Association as required following exercise of the above authorizations.” The amended Articles of Association are available on the Company’s website. Item 8.b - Proposal to renew and amend the authorization to issue warrants to employees and members of management The Board of Directors’ current authorization in Article 18 of the Articles of Association to issue warrants to employees and members of management expired on April 27, 2024. To enable the Company to continue to attract and retain highly qualified employees and members of management, the Board of Directors proposes that the authorization in Article 18 of the Articles of Association be renewed. The proposed authorization shall continue to be limited so that (i) the aggregate number of warrants outstanding issued to employees and members of management shall not exceed the equivalent of 10% of the Company’s share capital from time to time; and further that (ii) the maximum share capital increase pursuant to the authorization shall be nominally DKK 14,000,000 (corresponding to approximately 3.69% of the Company’s current share capital). The authorization is proposed to have a duration of two years expiring on April 30, 2026. The proposed authorization would result in Article 18a being replaced by the following: “Article 18 Warrants Article 18a Until April 30, 2026, the board of directors is authorised to issue warrants, on one or more occasions, entitling the holder(s) to subscribe for up to nominally DKK 14,000,000 of the share capital of the Company. The new warrants may be issued to employees, members of the executive management of the Company or its subsidiaries and members of the board of directors of the Company or its subsidiaries and thus without pre-emptive rights for existing shareholders. The exercise price shall be determined by the board of directors at the time the warrants are issued and shall equal the market price of the Company’s shares at the time of issue or at the time of conversion. In no event shall the aggregate number of outstanding warrants issued by the Company to such employees and management members allow for the issuance of shares representing more than 10% of the Company’s share capital from time to time. Issued warrants, that lapse unused or are returned to the Company, may be re-issued or re-used, subject always to the above limitations and provided that the exercise price shall equal the market price of the Company’s shares at the time the warrants are re-issued or re-used. The board of directors determines the detailed terms for warrants, including terms for the exercise of warrants. Potential performance requirements for the exercise of warrants (KPI’s) will be determined by the board of directors at the time of grant. Performance requirements, including the deadline for such requirements to be satisfied, can be amended only with the unanimous approval of the Board of Directors; provided, however, that performance requirements applicable to warrants issued to members of the Board of Directors shall only be determined by the general meeting. The board of directors is authorised to decide on the capital increases by cash payment pertaining to the warrants. All new shares shall be negotiable securities, shall have the same rights as the other shares and shall entitle the holder to dividends and other rights in the Company from the time determined by the board of directors when adopting the decision to increase the share capital. The new shares shall be paid in full, registered in the name of the holder and no restrictions shall apply to the transferability of the new shares. The board of directors is authorised to amend the Articles of Association as required following exercise of this authorization.” Item 8.c - Authorization to the Chair of the General Meeting The Board of Directors proposes that the General Meeting authorizes the Chair of the General Meeting, with a right of substitution, to file the resolutions adopted with the Danish Business Authority and to make any such amendments as the Danish Business Authority may require in order to register or approve the resolutions adopted. ITEM 9 - ANY OTHER BUSINESS -oOo- OTHER INFORMATION ADOPTION REQUIREMENTSAdoption of items 8.a(i), 8.a(ii) and 8.b requires adoption by at least 2/3 of both the votes cast and the share capital represented at the General Meeting. All other proposals may be adopted by simple majority. SHARE CAPITAL AND VOTINGAt the time of convening the General Meeting, the share capital of the Company amounts to DKK 379,670,461. The share capital is fully paid-up and divided into shares of nominally DKK 1.00. Each share carries one vote (corresponding to a total of 379,670,461 votes). PRACTICAL INFORMATION Until and including the day of the General Meeting, the following documents will be available on the Company’s website, www.bioporto.com: The convening notice, including the agenda and complete proposals; Information on voting rights and share capital on the convening date; The form for proxy and voting by correspondence; The amended Articles of Association;The Remuneration Report for 2023; andThe audited Annual Report for 2023. The General Meeting will be held in English. Parking is available in the nearby Waterfront Shopping Center. SUBMISSION OF QUESTIONS AHEAD OF THE GENERAL MEETINGUntil and including the day before the General Meeting, shareholders may address questions regarding the agenda or documents for the General Meeting to the Company in writing. Shareholders are kindly asked to submit questions to the following e-mail address: investor@bioporto.com. RECORD DATE The right of a shareholder to attend the General Meeting and to vote is determined relative to the shares held by the shareholder on the record date. The record date is one week before the General Meeting. The shares held by each shareholder on the record date is calculated based on registration of the shareholders' ownership in the shareholders’ register and notifications about ownership received by the Company for entry into the shareholders’ register, but which have not yet been registered. The record date is 23 April 2024, 11:59 PM CEST. ADMISSION CARDS Shareholders who wish to attend the General Meeting must request an admission card no later than 26 April 2024,11:59 PM CEST. Admission cards for the General Meeting may be obtained as follows: Electronically via the Company's shareholder portal, available on the Company's website, www.bioporto.com under "Investor Relations" or on the website of Computershare A/S, www.computershare.dk.By returning the signed and completed registration form to Computershare A/S either by e-mailing a scanned copy of the form to gf@computershare.dk or by sending it by ordinary mail to Computershare A/S, Lottenborgvej 26 D, 1st DK-2800 Kgs. Lyngby, Denmark. The registration form is available on the Company’s website www.bioporto.com under “Investor Relations”, subsequently “Investor Dashboard” and then “General Meetings”. By contacting Computershare A/S by phone +45 45 46 09 97 (weekdays 09.00 a.m. and 3.00 p.m. CEST) or by e-mail to gf@computershare.dk. Admission cards are only sent out electronically via email to the email address provided in the shareholder portal upon registration. Shareholders are therefore kindly requested to verify that the correct e-mail address is specified in the shareholder portal. The admission card must be presented at the General Meeting, either electronically on a smartphone / tablet or printed. Shareholders who have ordered admission cards without specifying their email address may collect the admission card at the entrance of the General Meeting upon presentation of ID. Voting forms will be handed out at the entrance of the General Meeting. PROXY VOTING Shareholders unable to attend the General Meeting may attend by proxy. Proxies must be received by Computershare A/S no later than 26 April 2024,11:59 PM CEST by one of the following ways: Electronically via the Company's shareholder portal, available on the Company's website, www.bioporto.com under "Investor Relations".By returning the signed and completed proxy form to Computershare A/S either by e-mailing a scanned copy of the form to gf@computershare.dk or by sending it by ordinary mail to Computershare A/S, Lottenborgvej 26 D, 1st DK-2800 Kgs. Lyngby, Denmark. The proxy form is available on the Company’s website www.bioporto.com under “Investor Relations”, subsequently “Investor Dashboard” and then “General Meetings”. By contacting Computershare A/S by phone +45 45 46 09 97 (weekdays 09.00 a.m. and 3.00 p.m. CEST) or by e-mail to gf@computershare.dk. VOTING BY CORRESPONDENCEVotes by correspondence must be received by Computershare A/S no later than 26 April 2024,11:59 PM CEST by one of the following ways: Electronically via the Company's shareholder portal, available on the Company's website, www.bioporto.com under "Investor Relations".By returning the signed and completed voting by correspondence form to Computershare A/S either by e-mailing a scanned copy of the form to gf@computershare.dk or by sending it by ordinary mail to Computershare A/S, Lottenborgvej 26 D, 1st DK-2800 Kgs. Lyngby, Denmark. The voting by correspondence form is available on the Company’s website www.bioporto.com under “Investor Relations”, subsequently “Investor Dashboard” and then “General Meetings”. By contacting Computershare A/S by phone +45 45 46 09 97 (weekdays 09.00 a.m. and 3.00 p.m. CEST) or by e-mail to gf@computershare.dk. DATA PROTECTION BioPorto A/S will as part of your communication and interaction with you collect and process personal data about you. You can read more about our privacy notice at www.bioporto.com/Investor-Relations/Governance.aspx. CONTACT BIOPORTO A/S Phone: + 45 29 00 00, e-mail: investor@bioporto.com. Attachment 2024 04 04 - Announcement no 6

– Merger creates a fully integrated, publicly traded company pioneering RNA cell therapy for the treatment of autoimmune disease – – Cartesian’s wholly owned pipeline includes a Phase 2 lead asset, Descartes-08, for which deep and durable responses have been observed in patients with myasthenia gravis (MG) – – Multiple near-term catalysts, including data from the Phase 2b study of Descartes-08 in MG expected in mid-2024 and initiation of multiple studies in additional autoimmune indications – – Combined company is expected to have a pro forma cash balance over $110 million at close, including $60.25 million from concurrent private financing; expected cash runway through Phase 3 development of Descartes-08 for MG – – Combined company to be led by Carsten Brunn, Ph.D.; Cartesian Co-Founders Murat Kalayoglu, M.D., Ph.D., and Michael Singer, M.D., Ph.D., to serve on Board of Directors – – Legacy Selecta stockholders to receive transferable Contingent Value Rights (CVRs) entitling holders to receive future royalties and milestone payments related to SEL-212 and all other legacy Selecta assets – – Company to host conference call today at 9:00 a.m. ET – WATERTOWN, Mass. and GAITHERSBURG, Md., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ: SELB) (the Company) today announced that it has merged with Cartesian Therapeutics, Inc., a clinical-stage biotechnology company pioneering RNA cell therapies for autoimmune diseases. In connection with the merger, Selecta announced a $60.25 million private financing led by Timothy A. Springer, Ph.D., member of the Selecta Board of Directors. With the cash from both companies at closing and the proceeds of the concurrent private financing, the combined company is expected to have over $110 million on hand to support the development of the Cartesian pipeline through the Phase 3 study of lead product candidate, Descartes-08, a potential first-in-class RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T) for the treatment of MG, as well as the advancement of additional RNA cell therapy programs. Concurrent with the merger, the combined company has been renamed Cartesian Therapeutics, Inc. The Company’s Nasdaq ticker symbol will change to “RNAC” effective prior to the opening of trading tomorrow, November 14, 2023. “We are thrilled to announce our merger with Cartesian, a true pioneer in the RNA cell therapy space,” said Carsten Brunn, Ph.D., who will continue to serve as President and Chief Executive Officer of the combined company. “With several potential value-driving milestones expected in the near-term, including data from the ongoing Phase 2b study of Descartes-08 in MG expected in mid-2024, we are confident that this merger represents a significant opportunity for Selecta stockholders. Cartesian’s mission aligns seamlessly with Selecta’s commitment to advancing innovative therapies for the treatment of autoimmune diseases, and we look forward to working toward maximizing the potential of this robust pipeline and technology.” “RNA cell therapy has the potential to overcome the challenges of using conventional, costly DNA-engineered cell therapies to treat autoimmune diseases, including their toxicity and the need for preconditioning chemotherapy,” said Murat Kalayoglu, M.D., Ph.D., Co-Founder and former Chief Executive Officer of Cartesian. “With a shared vision of bringing meaningful therapeutic options to patients with autoimmune diseases, we are confident that our novel approach can thrive under Carsten’s leadership.” Cartesian’s Portfolio and Proprietary RNA Armory® Platform Cartesian’s internally manufactured portfolio includes RNA cell therapies that are purposefully designed to be administered conveniently in an outpatient setting. Cartesian’s RNA-engineering approach has the potential to expand the reach of cell therapy to autoimmunity with potentially safer, potent, and less expensive therapies versus DNA analogs. Cartesian’s proprietary technology platform, RNA Armory®, is designed to enable precision control and optimization of engineered cells for diverse cell therapies leveraging multiple modalities, including autologous, allogeneic, and in vivo transfection. In addition, Cartesian’s wholly owned, state-of-the-art GMP manufacturing and internal research and development capabilities potentiates the optimization of processes in a rapid and iterative manner. Cartesian’s wholly owned pipeline includes: Descartes-08 is designed to be an autologous anti-BCMA rCAR-T. Descartes-08 is currently in clinical development for autoimmune diseases, including MG, a chronic autoimmune disorder that causes disabling muscle weakness and fatigue. Compared to conventional DNA-based CAR T-cell therapies, rCAR-T is designed to not require preconditioning chemotherapy, to have predictable and controllable pharmacokinetics, and to avoid the risk of genomic integration. Descartes-08 has been granted Orphan Drug Designation by the U.S. Food and Drug Administration for the treatment of MG.Cartesian previously reported positive data from its Phase 2a study of 14 patients with MG who received six weekly infusions of Descartes-08 in the outpatient setting without preconditioning chemotherapy. In the study, the results of which were published in The Lancet Neurology, Descartes-08 was observed to be safe and well-tolerated and to induce deep and durable responses. Enrollment is ongoing in a Phase 2b randomized, double-blind, placebo-controlled trial (NCT04146051) in patients with MG, and topline results are expected in mid-2024.Beyond MG, initiation of a Phase 2 study of Descartes-08 in patients with systemic lupus erythematosus, a chronic autoimmune disease that causes systemic inflammation which affects multiple organ systems, is expected in the first half of 2024. In addition, initiation of a Phase 2 ocular autoimmune basket study and a Phase 2 vasculitic autoimmune basket study is planned for mid-2024 and the second half of 2024, respectively. Descartes-15 is designed to be a next-generation, autologous anti-BCMA rCAR-T. In preclinical studies, Descartes-15 was observed to be significantly more potent than Descartes-08. Cartesian plans to leverage its clinical observations to date from its Descartes-08 clinical program to inform the clinical strategy for Descartes-15 for the treatment of autoantibody-associated autoimmune diseases (AAAD).Descartes-33 is designed to be an off-the-shelf (allogeneic) mesenchymal stem cell therapy (rMSC) for the treatment of AAAD. In preclinical studies, Descartes-33 was observed to induce potent degradation of disease-enabling neutrophil extracellular traps. Management and Organization The combined company will be led by Selecta’s Chief Executive Officer, Carsten Brunn, Ph.D., and current Chief Financial Officer, Blaine Davis, as well as several members of the legacy Cartesian team, including Metin Kurtoglu, M.D., Ph.D., as Chief Operating Officer, Milos Miljkovic, M.D., as Chief Medical Officer, Chris Jewell, Ph.D., as Chief Scientific Officer, and Emily English, Ph.D., as Vice President of Quality. Matthew Bartholomae, J.D., Selecta’s General Counsel, will continue to serve in this role. The combined company’s Board of Directors will be led by current Selecta Chairman Carrie S. Cox and will include, among others, current Selecta board member Timothy Springer, Ph.D., as well as Cartesian Co-Founders Murat Kalayoglu, M.D., Ph.D., and Michael Singer, M.D., Ph.D. All members of the Selecta Board of Directors prior to the merger will continue to serve on the Board of Directors following the closing of the transaction. Merger Terms The merger was structured as a stock-for-stock transaction pursuant to which all of Cartesian's outstanding equity interests were exchanged based on a fixed exchange ratio for consideration as a combination of approximately 6.7 million shares of Selecta common stock and approximately 0.38 million shares of Selecta Series A Non-Voting Convertible Preferred Stock (“Series A Preferred Stock”) (or approximately 385 million shares on an as-converted-to-common basis). Concurrently with the acquisition of Cartesian, Selecta entered into a definitive agreement for a PIPE investment to raise $60.25 million in which the investors will be issued approximately 0.15 million shares of Series A Preferred Stock (or approximately 149.3 million shares on an as-converted-to-common basis) at a price of $403.46851 per share. Subject to approval of the Company’s stockholders, each share of Series A Preferred Stock will automatically convert into 1,000 shares of common stock, subject to certain beneficial ownership limitations. On a pro forma basis, based upon the number of shares of Selecta common stock and Series A Preferred Stock issued in the acquisition and prior to the private financing, stockholders of Selecta immediately prior to the acquisition will own approximately 26.9% of the Company on an as-converted basis immediately after giving effect to this transaction. The acquisition was approved by the Board of Directors of Selecta and the Board of Directors and stockholders of Cartesian. The closings of the transactions are not subject to the approval of Selecta stockholders. On an as-converted basis, assuming the approval of the Company’s stockholders of the conversion of the Series A Preferred Stock into common stock, and after accounting for these transactions, the total number of shares of Selecta common stock will be approximately 696.2 million. In connection with the transactions, a transferrable contingent value right (a “CVR”) will be distributed to Selecta stockholders and holders of Selecta’s warrants issued in 2022 (the “2022 Warrants”) of record as of the close of business on December 4, 2023, but will not be distributed to holders of shares of common stock or Series A Preferred Stock issued to Cartesian or the PIPE investors in the transaction. Additionally, holders of Selecta’s warrants other than the 2022 Warrants will be entitled to receive CVRs when and if such warrants are exercised. Holders of the CVR will be entitled to receive certain cash payments from proceeds received by the Company, if any, from its legacy assets, including SEL-212, following the closing of the transaction. Leerink Partners is serving as exclusive financial advisor and private placement agent to Selecta. Covington & Burling LLP is serving as legal counsel to Selecta. Foley Hoag LLP is serving as legal counsel to Cartesian. Conference Call and Webcast Selecta and Cartesian will host a conference call today, Monday, November 13, 2023, at 9:00 am ET to discuss the merger. To access the conference call, please dial (844) 845-4170 (local) or (412) 717-9621 (international) at least 10 minutes prior to the start time and ask to be joined into the Selecta Biosciences call. The live audio webcast, along with accompanying slides, can be accessed on the Events & Presentations section of Selecta’s website at https://ir.selectabio.com/events-presentations. A replay of the webcast will be available for a limited time following the event on Selecta’s website. About Cartesian Therapeutics Cartesian Therapeutics is a clinical-stage company pioneering RNA cell therapies for the treatment of autoimmune diseases. The company’s lead asset, Descartes-08, is a potential first-in-class, RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T) in Phase 2b clinical development for patients with generalized myasthenia gravis, with additional Phase 2 studies planned in systemic lupus erythematosus as well as ocular autoimmune and vasculitic autoimmune basket trials. Cartesian operates a wholly owned, state-of-the-art cGMP manufacturing facility in Gaithersburg, MD. About Selecta Biosciences, Inc. Prior to the merger discussed herein, Selecta Biosciences Inc. (NASDAQ: SELB) was a clinical-stage biotechnology company leveraging its ImmTOR™ platform to develop tolerogenic therapies that selectively mitigate unwanted immune responses. Selecta Biosciences is headquartered in the Greater Boston area. For more information, please visit www.selectabio.com. Selecta Forward-Looking Statements Any statements in this press release about the future expectations, plans and prospects of Selecta Biosciences, Inc. (the “Company”), including without limitation, statements regarding the merger, stockholder approval of the conversion of the Series A Preferred Stock, the filing of a resale registration statement pursuant to the Registration Rights Agreement, and the timing thereof, the closing and timing of the Financing, any future payouts under the CVR, the integration of Selecta and Cartesian following the merger, the potential of RNA Armory to enable precision control and optimization of engineered cells for diverse cell therapies leveraging multiple modalities, the potential of Descartes-08, Descartes-15, Descartes-33 and the Company’s product pipeline to treat MG, systemic lupus erythematosus, and AAAD, or any other disease, the anticipated timing or the outcome of ongoing and planned clinical trials, studies and data readouts, the anticipated timing or the outcome of the FDA’s review of the Company’s regulatory filings, the Company’s ability to conduct its clinical trials and preclinical studies, the timing or making of any regulatory filings, the anticipated timing or outcome of selection of developmental product candidates, the ability of the Company to consummate any expected agreements and licenses, the novelty of treatment paradigms that the Company is able to develop, the potential of any therapies developed by the Company to fulfill unmet medical needs, the Company’s ability to grow and maintain its strategic partnerships, and enrollment in the Company's clinical trials and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “hypothesize,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, the following: the uncertainties inherent in the initiation, completion and cost of clinical trials including proof of concept trials, including uncertain outcomes, the availability and timing of data from ongoing and future clinical trials and the results of such trials, whether preliminary results from a particular clinical trial will be predictive of the final results of that trial and whether results of early clinical trials will be indicative of the results of later clinical trials, the ability to predict results of studies performed on human beings based on results of studies performed on non-human subjects, the unproven approach of the Company’s RNA Armory® technology, potential delays in enrollment of patients, undesirable side effects of the Company’s product candidates, its reliance on third parties to manufacture its product candidates and to conduct its clinical trials, the Company’s inability to maintain its existing or future collaborations, licenses or contractual relationships, its inability to protect its proprietary technology and intellectual property, potential delays in regulatory approvals, the availability of funding sufficient for its foreseeable and unforeseeable operating expenses and capital expenditure requirements, the Company’s recurring losses from operations and negative cash flows, substantial fluctuation in the price of the Company’s common stock, risks related to geopolitical conflicts and pandemics and other important factors discussed in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and in other filings that the Company makes with the Securities and Exchange Commission (the “SEC”). In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. The Company specifically disclaims any intention to update any forward-looking statements included in this press release, except as required by law. Contact: Investor Relations:Melissa ForstArgot PartnersSelecta@argotpartners.com Media: David RosenArgot PartnersSelecta@argotpartners.com No Offer or Solicitation; Important Information About the Merger and Where to Find It This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the merger and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Selecta or Cartesian, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. The Company expects to file a proxy statement with the SEC relating to the proposals to be voted upon at an upcoming meeting of stockholders (the “Meeting Proposals”). The definitive proxy statement will be sent to all Company stockholders. Before making any voting decision, investors and security holders of the Company are urged to read the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the Meeting Proposals as they become available because they will contain important information about the merger agreement and related transactions and the Meeting Proposals to be voted upon. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov. Participants in Solicitation Selecta, Cartesian, and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the merger. Information regarding the Company’s directors and executive officers is available in the Selecta’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 2, 2023. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available.

SINGAPORE, July 13, 2023 (GLOBE NEWSWIRE) -- Novotech, the leading Asia Pacific centred biotech CRO with global execution capabilities is a finalist in the Asia Pacific Cell & Gene Therapy Awards 2023. The winner will be announced at the 7th Cell & Gene Therapy World Asia in Singapore on 13 September 2023. Novotech is currently the recipient of the Asia Pacific Cell & Gene Therapy Clinical Trials Excellence2022 award. According to the award organizer IMAPAC, a leading global business data company: “The Asia Pacific CGT Excellence Awards 2023 seeks to give recognition to exceptional Cell & Gene Therapy (CGT) pioneers, researchers, innovators and manufacturers that facilitate fast advancement in new therapies, R&D and manufacturing. Featuring top CGT leaders in the industry, along with the new CGT research development, latest advances and technologies and best practices in CGT manufacturing, the Asia Pacific CGT Excellence Awards 2023 applauds extraordinary leaders and trend-setters of today and inspires innovators of tomorrow.” Novotech offers biotechs a unique and unparalleled suite of early to late-phase CRO services across the US and Europe, with a foundation in Asia Pacific where the company has built a reputation for delivering high-quality expedited clinical trials. As part of Novotech’s commitment to CGT progress, the company recently hosted a roundtable with Citeline at BIO 2023 titled: Building the Foundations of Successful Cell & Gene Therapy Trials. Expert panelists included: Miloš Miljković, Chief Medical Officer - Cartesian Therapeutics, Inc. Michelle Lynn Hall, Associate Vice President, Genetic Medicine & Neurodegeneration - Eli Lilly Jordan Shin, Senior Vice President, Clinical Development and Translational Science - LEXEO Therapeutics Sonal Gupta, Senior Vice President and Head of Clinical Development - AffyImmune Therapeutics Inc. Catherine Stehman-Breen, CEO - Chroma Medicine Moderator: Brent Warner, President, Gene Therapy - Poseida Therapeutics Novotech also recently published an industry survey report in partnership with Citeline where respondents shared future investment and development trends across sectors including CGT. According to the report: The CGT market was valued at $18.61 billion in 2022 but is projected to hit $93.78 billion by 2030 at a compound annual growth rate (CAGR) of 22.41%. Proving this momentum, FDA approval numbers for gene therapy in H2 2022 surpassed the combined total for the previous five years. When respondents were asked about the most promising therapy type for future investment and development, CGTs took the top spot (26%), followed by mRNA (22%) and antibody therapeutics (19%). The report shares insights into the trends and pain points in biotech clinical trials, as companies seek to secure funding for continued and future development. Download the Report Here Novotech has been awarded a range of significant industry awards including a CRO Leadership Award 2023, is the recipient of the Asia Pacific Cell & Gene Therapy Clinical Trials Excellence2022 award, and the Asia-Pacific Contract Research Organization Company of the Year Award, and has signed more than 45 Leading Site Partnership agreements over the last 3 years. About NovotechNovotech-CRO.com Novotech is the leading Asia Pacific centred biotech CRO with global execution capabilities. Novotech is a clinical CRO with labs, phase I facilities, drug development consulting services and FDA regulatory expertise and has experience in over 5,000 clinical projects, including Phase I to Phase IV clinical trials and bioequivalence studies. Novotech is positioned to serve biotech clients conducting clinical trials in Asia Pacific, the US and Europe. Novotech has over 3,000 staff globally and 34 office locations across the US, Europe and Asia Pacific. For more information visit Media Contact David James communications@novotech-cro.com AU: +61 2 8218 2144 USA: +1 415 951 3228 Asia: +65 3159 3427