Selexys Pharmaceuticals, an Oklahoma City, OK-based biopharmaceutical company, has closed a $23m Series A equity financing.
The round was led by MPM Capital.
Led by Dr. Scott Rollins, President and CEO, Selexys focuses on development of therapeutics for the treatment of inflammation, thrombosis and metastasis across a broad range of severe diseases. It is also developing an antibody directed against PSGL-1 for the treatment of Crohn’s disease, multiple myeloma, and other inflammatory disorders.
The company intends to use the funding to advance the SelG1 program through a large Phase 2 clinical study in sickle cell patients and fund the anti-PSGL-1 antibody, through a Phase I clinical study.
Selexys also entered into an agreement with Novartis Pharmaceuticals – which could reach up to $665m – whereby Novartis has been granted an exclusive option to acquire the company and its lead asset, the anti-P-selectin antibody SelG1, following the completion of the Phase 2 clinical study in patients with sickle cell disease.
In connection with the investment, Todd Foley, Managing Director of MPM Capital, has joined Selexys Pharmaceuticals’ Board of Directors.