Selecta In-Licenses Rights To IgG Protease Platform

Selecta Biosciences Inc SELB has announced a strategic licensing agreement to advance a next-generation IgG protease.
The partnership leverages Genovis' immunoglobulin G (IgG) protease, IdeXork (Xork), and Selecta's ImmTOR platform to enable the dosing of gene therapies and treat certain IgG-mediated autoimmune diseases.
Under the terms of the agreement, Selecta has provided Genovis with an upfront payment, while Genovis retains rights to research, preclinical, diagnostic, and other potential non-therapeutic applications of Xork.
Additionally, Genovis is eligible to earn development and sales-based milestones and tiered royalties on worldwide sales in the low double digits.
Specific deal terms were not disclosed.
Price Action: SELB shares are up 1.31% at $3.94 during the market session on the last check Thursday.