WATERTOWN, Mass., Sept. 04, 2019 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (NASDAQ: SELB), a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance platform technology, ImmTOR™, today announced the appointment of Brad Dahms as Chief Financial Officer.
“Brad has deep financial and capital markets expertise within the biotech sector as a result of his tenure as a life sciences investment banker. We are thrilled to have him join at such an exciting time for the company, especially with our recently announced strategic partnership with AskBio in gene therapy and the continued advancement of our lead program, SEL-212, for the treatment of chronic refractory gout,” said Carsten Brunn, President and Chief Executive Officer of Selecta Biosciences. “With the addition of Brad, we have now fully rounded-out our new executive management team.”
Prior to joining Selecta Biosciences, Mr. Dahms was a Senior Vice President in the Healthcare Investment Banking Group at Cantor Fitzgerald & Co., where he focused on providing strategic and financial advice to life sciences companies. Prior to joining Cantor, Mr. Dahms worked as an investment banker at RBC Capital Markets, covering the healthcare sector. Previously, he worked in the Corporate and Investment Banking Group at J.P. Morgan. Mr. Dahms earned a B.S. in Economics, with honors, from the Ohio State University.
“I am excited and honored to be joining Selecta at this time, as we look to further pursue the broad potential of ImmTOR for rare and serious diseases with significant unmet medical need, both independently and through selected partnerships. In particular, there is a compelling opportunity for Selecta to become a leader in gene therapy by developing products that can potentially be re-dosed,” said Mr. Dahms. “I look forward to working with the Selecta team to deliver meaningful results for patients and shareholders.”
About Selecta Biosciences, Inc.
Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance technology (ImmTOR) platform. Selecta plans to combine ImmTOR with a range of biologic therapies for rare and serious diseases that require new treatment options due to high immunogenicity. The company’s current proprietary pipeline includes ImmTOR-powered therapeutic enzyme and gene therapy product candidates. SEL-212, the company’s lead product candidate, is being developed to treat chronic refractory gout patients and resolve their debilitating symptoms, including flares and gouty arthritis. Selecta’s proprietary gene therapy product candidates are in preclinical development for certain rare inborn errors of metabolism and incorporate ImmTOR with the goal of addressing barriers to repeat administration. Selecta is based in Watertown, Massachusetts. For more information, please visit http://selectabio.com.
NASDAQ Rule 5653(c)(4) Notice
In connection with the commencement of Mr. Dahms’ services, the company issued to Mr. Dahms an option to purchase an aggregate of 400,000 shares of the company’s common stock with a per share exercise price of the closing trading price of the company’s common stock on the Nasdaq Global Market on September 3, 2019. The option was granted pursuant to the company’s 2018 Employment Inducement Incentive Award Plan and was approved by the company’s board of directors. The option vests 25% on September 3, 2020 and in 36 substantially equal monthly installments over the three years thereafter and has a ten-year term. The stock option was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as inducement material to Mr. Dahms’ entering into employment with the company.
Forward-Looking Statements
Any statements in this press release about the future expectations, plans and prospects of Selecta Biosciences, Inc. (“the company”), including but not limited to the potential of the Company’s ImmTOR technology in gene therapy, the ability of the Company’s ImmTOR technology to administer multiple doses, 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 raising funds for the Company, the uncertainties in forming strategic partnerships with third parties and maintaining strategic relationships with current partners, the unproven approach of the company’s ImmTOR technology, Mr. Dahms’ ability to perform as expected, Mr. Dahms’ role with the Company, the availability of funding sufficient for its foreseeable and unforeseeable operating expenses and capital expenditure requirements, substantial fluctuation in the price of its common stock, and other important factors discussed in the “Risk Factors” section of the company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, for the quarter ended June 30, 2019, and in other filings that the company makes with 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.
For media:
Leticia Diaz
Spectrum Science Communications, Inc.
202-587-2517
ldiaz@spectrumscience.com
For investors:
Sarah McCabe
Stern Investor Relations, Inc.
212-362-1200
sarah.mccabe@sternir.com