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Cartesian Therapeutics Announces $130 Million Private Placement Equity Financing

Jul 02, 2024almost 2 years ago

Contract Type

partnership

FrederickBiotechnologyHealth CareTherapeuticsBiopharma

Description

Cartesian Therapeutics, Inc. has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of approximately $130.0 million to the Company. The financing included participation from both new and existing investors, including HBM Healthcare Investments (Cayman) Ltd., Invus, Schooner Capital, Surveyor Capital, Timothy A. Springer, Ph.D., and other institutional investors.

Company Information

Company

Selecta Biosciences

Location

704 Quince Ochard Road

Frederick, Maryland, United States

About

Selecta Biosciences is a biotechnology company focused on modulating the immune system to enhance the efficacy of gene-based therapies. Its core technology, ImmTOR, aims to induce immune tolerance to reduce unwanted responses. The company engages in research collaborations, leveraging its innovative approaches to address autoimmune diseases and rare conditions.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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