Moscow – November 28, 2012 – Selecta (RUS) LLC – is the Russian subsidiary of Selecta Biosciences, Inc., became RUSNANO’s first portfolio company in the pharmaceutical sector to open a research center in Russia. At the new research center Russian and American scientists will develop immunotherapies and vaccines for the treatment and prevention of cancer as well as respiratory, infectious, autoimmune and allergic diseases. The pipeline of Selecta Biosciences, Inc., a clinical stage biotechnology company with headquarters in Boston, US, is based on the tSVP™ nanotechnology platform which was invented at the Massachusetts Institute of Technology and the Harvard Medical School. Selecta's lead product candidate is a first-in-class vaccine for smoking cessation and relapse prevention.
The total co-investment of RUSNANO in Selecta may reach up to $25 million in several tranches.
Selecta is dedicated to expanding its research, development, and manufacturing capabilities in Russia. It was announced that the President and Chief Executive Officer of Selecta Biosciences, Inc. Werner Cautreels, Ph.D, will become the General Director of the Russian subsidiary. In order to manage Selecta’s global and Russian operations and implement this pioneering strategy for the Russian biotech industry, he will move to Moscow. "It is a great honor for me to direct the global and Russian activities of Selecta, I am grateful to our Board members and to my colleagues for their trust” - says Werner Cautreels. – “I will deploy my experience to contribute to the implementation of Selecta’s plans in the field of scientific innovation and to the development of new treatments for patients."
The goal of Selecta’s research center in Russia is to build a robust pipeline of nanovaccines and immunotherapies for the domestic and global market in accordance with international standards of scientific and clinical quality and good manufacturing practice (GMP). Selecta’s research center is located in Khimki at the ChemRar High Tech Center.
"I sincerely welcome Dr. Werner Cautreels to Russia. The establishment of Selecta (RUS) LLC is aligned with the investment agreement with Selecta Biosciences Inc.”, - said RUSNANO Managing Director Dmitry Lisenkov. – “This is a unique opportunity to attract a technology platform for developing innovative vaccines to Russia."
RUSNANO was established in March 2011 as an open joint stock company created through reorganization of the state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO.
Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies. More information about RUSNANO may be found at www.rusnano.com
About Selecta (RUS) LLC:
Selecta (RUS) LLC is a Russian company founded in 2011 by Selecta Biosciences Inc. and RUSNANO. Selecta (RUS) LLC together with Selecta Biosciences Inc. will develop a new class of fully synthetic vaccines and immunotherapies based on nanoparticles. The first product which the company plans to develop will be an effective vaccine for the treatment of nicotine addiction. In addition, Selecta (RUS) LLC will participate in programs focusing on development of innovative vaccines in other therapeutic areas such as in cancer, autoimmune diseases, and infectious diseases.
About Selecta Biosciences, Inc.:
Selecta Biosciences, Inc. is a biopharmaceutical company developing an entirely new class of targeted vaccines that induces an antigen-specific immune activation or antigen-specific immune tolerance for therapeutic and prophylactic applications. Selecta's pipeline currently contains a vaccine for smoking cessation and relapse prevention, a vaccine for Type 1 Diabetes, vaccines for several infectious diseases (such as chronic infections and malaria), and research approaches with cancer vaccines and in the field of allergies.