Selecta Biosciences, Inc. (NASDAQ:SELB) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:30 am ET


Selecta Biosciences, Inc. (NASDAQ:SELB) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Selecta Biosciences Second Quarter 2020 Financial Results and Corporate Update Conference Call. [Operator Instructions] This call is being webcast live on the Investors & Media section of Selecta's website at and it is being recorded.

For opening remarks, I would like to introduce you to Brad Dahms, Chief Financial Officer of Selecta. Please go ahead.

Brad Dahms

Thank you, operator, and good morning. Welcome to our second quarter 2020 financial results and corporate update conference call. The press release reporting our financial results is available on the Investors and Media section of our website And our quarterly report on Form 10-Q for the quarter ended June 30th, 2020 will be filed later today with the SEC.

Joining me today is Carsten Brunn, our President and Chief Executive Officer and Dr. Peter G. Traber, our newly appointed Chief Medical Officer. Takashi Kishimoto, our Chief Scientific Officer will be available for the Q&A portion of the call.

During today's call, we'll be making certain forward-looking statements including, without limitation, statements about the potential safety, efficacy and regulatory and clinical progress of our product candidates, financial projections and our future expectations, plans, partnerships and prospects. These statements are subject to various risks, including those related to the COVID-19 outbreak that are described in our filings made with the Securities and Exchange Commission, including our most recent quarterly report on Form 10-Q, which will be filed later today with the SEC.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today, August 6th, 2020 and Selecta disclaims any obligation to update such statements even if management views change.

I would now like to turn the call over to Carsten Brunn, our President and CEO.

Carsten Brunn

Thank you, Brad. Good morning. I appreciate you joining us today. The second quarter of 2020 can be best described as a transformational time for Selecta. We've made a number of important strategic business decisions that have reinforced our position as the leader in immune tolerance.

The strategic licensing agreement we entered into with Sobi puts us in a financial position that allows us to maximize our efforts to unlock the full potential of the ImmTOR immune tolerance platform. We also believe that it provides the most value for SEL-212, given Sobi's commercial presence and resources.

Our objectives in researching the potential applications of ImmTOR remain the same, to use the technology to optimize the efficacy and safety of biologics, enable re-dosing of lifesaving gene therapies, and create novel immunotherapies for autoimmune diseases. The strategic licensing agreement with Sobi which closed on July 28th, 2020 is for SEL-212, our Phase III product candidate for the treatment of Chronic Refractory Gout.

Under the terms of the agreement, Sobi assumes responsibility for all development, regulatory and commercial activities and expenses in all markets except China, while Selecta will run the Phase III study on behalf of Sobi. As a reminder, in addition to covering the expenses of the Phase