February 25, 2009
Investors, Polaris Venture Partners and Flagship Ventures Finalize $15.1 Million of Series B Funding for Selecta Biosciences, Inc.
Based in Watertown, Massachusetts, Selecta Biosciences has closed a $15.1 million in series B funding lead by existing vc investors Polaris Venture Partners and Flagship Ventures.� Other investors also joined this round of funding.� The two investors who joined this round of funding are NanoDimensions and Professor Timothy A. Springer.� Selecta Biosciences is a venture backed biopharmaceutical company which develops first generation of nano-particle and immunomodulatory drugs to treat various human diseases.� Selecta�s platform combines immunobiology and vanguard nanotechnology to develop immunomodulatory (a drug that effect the immune system of the human body) nano-particles.� Selecta Biosciences was founded by two academic pioneers, Professors Robert Langer, from MIT and Omid Farokhzad, Brigham Women�s Hospital and the Harvard Medical School.���
According to the Executive Chairman of Selecta Biosciences, Dr. Robert Bratzler, the company�s investors� track record of creating successful companies is a clear validation of Selecta�s team, platform, and product opportunities.� Furthermore, the company�s research has created enormous shareholder value since its initial funding.� The proceeds of the series B funding will go to expand Selecta�s research and development to advance their treatments to clinical evaluation.� As far as the founder and managing director of NanoDimension, Aymeric Sallin, the company�s product platform is being developed over a broad area of immunology, covering immune suppression, immune switching, prophylactic and therapeutic vaccines.� This platform comes at a time when there is an increasing business interest in immunomodulation, and Selecta�s technology is at the intersection between materials science and immunology, which offers a strong internal and partnered development.� Mr. Sallin continues to state that NanoDimension will continue to support Selecta Bioscience.
According to Tom Springer, one of the world�s best known scientists, Selecta�s scientists, founders, and management are building a world class company that converges immunobiology and nanotechnology.� Professor Springer is also the founder of LeukoSite, which was later acquired by Millennium Pharmaceuticals.� Prof. Springer had further stated that the human immune system has evolved over thousands of years to protect the human body from various pathogens.� Selecta Bioscience is taking advantage of the insights of the above mentioned scientists into working the immune system to improve immunomodulatory nano-particles to improve the lives of patients.
Flagship Ventures was founded in 1999 and mainly focuses on creating, funding, and building innovative companies.� The vc firm manages over $500 million in startup funds and has offices in Cambridge, Massachusetts.�� Flagship has a portfolio of over 40 companies and its strategy is to balance its assets across three industries: therapeutics, life science tools and diagnostics, and clean technology.
NanoDimension is a vc firm that is devoted to building companies that develop disruptive market technologies on the nano-scale.� NanoDimensions was founded in 2002 and has offices in Europe and the United States.� NanoDimensions mainly focuses on early and mid stage companies across various business sectors.
Polaris Venture Partners was founded in 1996 and has over $3 billion under its management.� The vc firm mainly focuses on building market-leading companies. The vc firm has offices in Waltham and Seattle, Washington.� Some companies that Polaris helped build are Aspect Medical Systems, Centra Software, Exchange.com, Paradigm Genetics, and others.