Selecta Biosciences Sets Reverse Merger With Cartesian Therapeutics

Dow Jones2023-11-13

By Colin Kellaher

Selecta Biosciences has combined with fellow clinical-stage biotechnology company Cartesian Therapeutics in an all-stock reverse merger.

Selecta on Monday said the deal creates a combined company with a cash balance topping $110 million, including more than $60 million from a private financing led by board member Timothy Springer.

Selecta, based in Watertown, Mass., said its shareholders will own about 26.9% of the combined company, which has been renamed Cartesian Therapeutics and will trade under the symbol RNAC starting Tuesday.

A reverse merger allows a private company to go public by merging with a listed company at a lower cost than is involved in a traditional initial public offering.

Selecta said it expects the combined company will have the resources to support the development of Cartesian's pipeline through the Phase 3 study of lead product candidate, Descartes-08, for the treatment of myasthenia gravis.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 13, 2023 08:40 ET (13:40 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2383977033?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-11-13 21:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2383977033","market":"sg","top_or_hot":-1,"title":"Selecta Biosciences Sets Reverse Merger With Cartesian Therapeutics","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Selecta Biosciences has combined with fellow clinical-stage biotechnology company Cartesian Therapeutics in an all-stock reverse merger. \n</p>\n<p>\n  Selecta on Monday said the deal creates a combined company with a cash balance topping $110 million, including more than $60 million from a private financing led by board member Timothy Springer. \n</p>\n<p>\n  Selecta, based in Watertown, Mass., said its shareholders will own about 26.9% of the combined company, which has been renamed Cartesian Therapeutics and will trade under the symbol RNAC starting Tuesday. \n</p>\n<p>\n  A reverse merger allows a private company to go public by merging with a listed company at a lower cost than is involved in a traditional initial public offering. \n</p>\n<p>\n  Selecta said it expects the combined company will have the resources to support the development of Cartesian's pipeline through the Phase 3 study of lead product candidate, Descartes-08, for the treatment of myasthenia gravis. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 13, 2023 08:40 ET (13:40 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Selecta Biosciences Sets Reverse Merger With Cartesian Therapeutics</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSelecta Biosciences Sets Reverse Merger With Cartesian Therapeutics\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-13 21:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Colin Kellaher \n\n\n \n\n\n  Selecta Biosciences has combined with fellow clinical-stage biotechnology company Cartesian Therapeutics in an all-stock reverse merger. \n\n\n  Selecta on Monday said the deal...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RNAC","symbol_name":"Cartesian Therapeutics","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2383977033","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2383977033","pubTimestamp":1699882800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Selecta Biosciences has combined with fellow clinical-stage biotechnology company Cartesian Therapeutics in an all-stock reverse merger.Selecta on Monday said the deal creates a combined company with a cash balance topping $110 million, including more than $60 million from a private financing led by board member Timothy Springer.Selecta, based in Watertown, Mass., said its shareholders will own about 26.9% of the combined company, which has been renamed Cartesian Therapeutics and will trade under the symbol RNAC starting Tuesday.A reverse merger allows a private company to go public by merging with a listed company at a lower cost than is involved in a traditional initial public offering.Selecta said it expects the combined company will have the resources to support the development of Cartesian's pipeline through the Phase 3 study of lead product candidate, Descartes-08, for the treatment of myasthenia gravis.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RNAC":"Cartesian Therapeutics","BK4139":"生物科技"},"translate_title":"Selecta Biosciences与笛卡尔疗法反向合并","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RNAC":1,"SELB":1},"content_text":"By Colin Kellaher \n\n\n \n\n\n  Selecta Biosciences has combined with fellow clinical-stage biotechnology company Cartesian Therapeutics in an all-stock reverse merger. \n\n\n  Selecta on Monday said the deal creates a combined company with a cash balance topping $110 million, including more than $60 million from a private financing led by board member Timothy Springer. \n\n\n  Selecta, based in Watertown, Mass., said its shareholders will own about 26.9% of the combined company, which has been renamed Cartesian Therapeutics and will trade under the symbol RNAC starting Tuesday. \n\n\n  A reverse merger allows a private company to go public by merging with a listed company at a lower cost than is involved in a traditional initial public offering. \n\n\n  Selecta said it expects the combined company will have the resources to support the development of Cartesian's pipeline through the Phase 3 study of lead product candidate, Descartes-08, for the treatment of myasthenia gravis. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 13, 2023 08:40 ET (13:40 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2383977033"}