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Selexys Pharmaceuticals Completes $23M Equity Financing and Signs Agreement With Global Pharmaceutical Company
Date:9/19/2012

OKLAHOMA CITY, Sept. 19, 2012 /PRNewswire/ -- Selexys Pharmaceuticals, Corp., announced today that it has successfully completed a $23 million Series A equity financing, led by MPM Capital.  Additionally, Selexys entered into an agreement with Novartis Pharmaceuticals whereby Novartis has been granted an exclusive option to acquire Selexys and its lead asset, the anti-P-selectin antibody SelG1, following the successful completion of a Phase 2 clinical study in patients with sickle cell disease.  Including upfront, acquisition and milestone payments, the agreement with Novartis could reach up to $665 million.

The Series A financing includes a new major investor, MPM Capital. Concurrent with the investment, Selexys also announced the addition of Todd Foley, Managing Director of MPM Capital, to the Selexys Pharmaceuticals Board of Directors.

"Patients with sickle cell disease endure great suffering and frequent hospitalization due to painful vasoocclusive crises. Chronic blockade of P-selectin function with SelG1 may improve clinical outcomes and lower the associated cost of patient care," said Dr. Scott Rollins, President and CEO of Selexys. "We are excited to welcome MPM and Novartis and look forward to a productive partnership." The combination of the Novartis agreement and the closing of the Series A financing will allow Selexys to advance the SelG1 program through a large Phase 2 clinical study in sickle cell patients and will also fund a second program at Selexys, an anti-PSGL-1 antibody, through a Phase I clinical study.

"Vasoocculsive crises represent a significant healthcare problem for sickle cell disease patients, and we were impressed by the early data for SelG1 and the quality of the Selexys team," said Todd Foley, Managing Director of MPM Capital. "We are pleased to be a part of this successful financing structure, and I look forward to working closely with Selexys."

About SelG1

SelG1 is an investigatio
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SOURCE Selexys Pharmaceuticals, Corp.
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