Selecta transitions SEL-212 manufacturing to Sobi; CMO goes part-time

Cartesian Therapeutics, Inc.

Selecta granted Sobi exclusive license to manufacture ImmTOR for SEL-212; Sobi assumes all manufacturing and commercial supply.
15 Selecta employees expected to become Sobi employees; CMO Peter Traber moves to part-time at Selecta and consultant to Sobi.
Selecta retains eligibility for up to $615M in remaining milestones and tiered double-digit royalties on SEL-212 net sales.
BLA submission for SEL-212 on track for first half of 2024; peak U.S. sales potential estimated at >$700M.
Dr. Traber's base salary reduced to $250,000; severance benefits tied to pre-amendment salary in certain termination scenarios.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

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Role change

Peter Traber

Chief Medical Officer

RNAC · Cartesian Therapeutics, Inc.

Effective: 2023-11-06
Filed: October 31, 2023, 7:59 PM ET

Peter Traber, the Company’s Chief Medical Officer, has agreed to serve as a consultant to Sobi and move to part-time status as the Company’s Chief Medical Officer, each effective as of November 6, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Traber changed role as Chief Medical Officer at Cartesian Therapeutics, Inc..

Action: move to part-time status
Role: Chief Medical Officer

Exact text from the filing

Peter Traber, the Company’s Chief Medical Officer, has agreed to serve as a consultant to Sobi and move to part-time status as the Company’s Chief Medical Officer, each effective as of November 6, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cartesian Therapeutics, Inc. amended License and Development Agreement with Swedish Orphan Biovitrum AB (publ.) valued at The Company granted Sobi an exclusive license to manufacture ImmTOR solely in connection with Sobi’s (effective 2023-10-31).

Action: amendment
Agreement: license
Counterparty: Swedish Orphan Biovitrum AB (publ.)
Value: The Company granted Sobi an exclusive license to manufacture ImmTOR solely in connection with Sobi’s
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023, Selecta Biosciences, Inc. (the “Company”) and Swedish Orphan Biovitrum AB (publ.) (“Sobi”) entered into Amendment No. 1 (the “Amendment”) to the License and Development Agreement (as so amended, the “Agreement”) by and between the Company and Sobi. Pursuant to the Amendment, the Company granted Sobi an exclusive license to manufacture ImmTOR solely in connection with Sobi’s development of SEL-212 under the Agreement and is transferring certain contracts and manufacturing equipment to Sobi. Additionally, in connection with entry into the Amendment, Sobi agreed to make employment offers to certain of the Company’s employees engaged in ImmTOR manufacturing activities on or prior to a specified date, and the Company agreed not to terminate the employment of such employees prior to such specified date.

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281 material agreements filed in the last 30 days. Browse all material agreements →

Cartesian Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001453687-23-000070

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