June 12, 2020 / 12:55 AM / a month ago

BRIEF-SOBI And Selecta Announce Strategic Licensing Agreement For Sel-212, A Phase 3-Ready Novel Treatment For Chronic Refractory Gout

June 11 (Reuters) - Selecta Biosciences Inc:

* SOBI AND SELECTA ANNOUNCE STRATEGIC LICENSING AGREEMENT FOR SEL-212, A PHASE 3-READY NOVEL TREATMENT FOR CHRONIC REFRACTORY GOUT

* SELECTA BIOSCIENCES - TO GET FROM SOBI INITIAL PAYMENTS OF USD 100 MILLION

* SELECTA BIOSCIENCES - SELECTA IS ELIGIBLE TO RECEIVE POTENTIAL MILESTONE PAYMENTS OF UP TO USD 630 MILLION FROM SOBI

* SELECTA BIOSCIENCES - INITIAL PAYMENTS, INCLUDE $75 MILLION UP-FRONT LICENSE FEE & $25 MILLION FOR PURCHASE OF SELECTA COMMON STOCK AT $4.62/SHARE

* SELECTA BIOSCIENCES - ADDITIONALLY, SELECTA IS ELIGIBLE TO RECEIVE TIERED DOUBLE-DIGIT ROYALTIES ON NET SALES

* SELECTA BIOSCIENCES INC - SOBI INTENDS TO FINANCE CONSIDERATIONS ABOVE BY AVAILABLE FUNDS

* SELECTA BIOSCIENCES - SOBI TO ASSUME RESPONSIBILITY FOR DEVELOPMENT, REGULATORY, COMMERCIAL ACTIVITIES FOR SEL-212 IN MARKETS OUTSIDE CHINA Source text for Eikon: Further company coverage:

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