SELB - Earnings call transcript Q4 2017 | Cartesian Therapeutics, Inc.

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Operator

Welcome to the Selecta Biosciences Fourth Quarter And Year-end 2017 Conference Call. [Operator Instructions]. This call is being webcast live on the investors and media section of Selecta's website at www.selectabio.com, and it is being recorded.

For opening remarks, I would now like to turn the call over to John Leaman, Selecta's Chief Financial Officer and Head of Corporate Strategy. Please go ahead.

John Leaman

thanks of and us for Brandon, morning. this you, to you all joining Thank we press other issued fourth morning, this Earlier a year-end we our financial and quarter release XXXX results updates, and corporate filed XX-K. and our containing be XX-K selectabio.com. in visiting by can release our accessed The the website, Skip I'm joined and today Medical Chief Cautreels, Werner our by Officer. CEO; our Sands,

forward-looking of about Litigation Before statements the and are made results may report on most that XX-K as that certain we remarks factors, statements plans the various selectabio.com. of get started, purposes of recent filed differ Private forward-looking Form important which SEC, with expectations, this for at we Actual from section the materially including accessed call those Safe would prospects under by future the can like constitute Reform to our these advise result provisions XXXX. in company's during be of Harbor indicated Act Securities annual a discussed the those Factors Risk

forward-looking any views not today, XX, -- statements our addition, views date. of In of any upon should relied on as subsequent XXXX, be representing only March our and as as represent

discussions. disclaims elect so And the forward-looking point these to future, me may introduce to let even now kick obligations statements some our it will at Selecta While if off update our change. specifically any do in views who Werner,

Werner Cautreels

good John, and morning, everyone. you, Thank

new pipeline Over of our the our to therapies of class last that year, continued unwanted we biologic advance mitigate immunogenicity. mission

which to positions combined in last the well to the asset our clinical patient form which dosed Phase first tolerance underway lead for year. it next our SVP-Rapamycin Phase trial stage agent this and trial week. Phase oncology later we candidate, our planned our We II to we believe III product proprietary program with SEL-XXX. XXXX, immune dose-ranging LMB-XXX, We us called get in-licensed continued gout, severe expect of in on execute a program comprehensive a Specifically, for chronic SEL-XXX, we I

transform We paradigm planned demonstrates from our preclinical gene And by key presented and to therapy payments data was treatment Directors the in also the SVP-Rapamycin that $XX dosing. team December of Board we to as and license our in that million received additions for repeat generated executed further next XXXX. we And management the made potential we evolution. of finally, of Spark the stage enabling entered in

SVP-Rapamycin was lower II that the levels to a high acid Now let's some that focus as combined with clear uric our occurs uricase to consisting trial uric therapy joints, enzyme treated debulking the in a blood, of SEL-XXX. significantly immunogenic, tophi with need shown currently believe more in therapy patients. therapy can remains on in organs the that unmet is product of FDA-approved This full We has rapid the developments, Phase been our uricase has unable gout be acid The majority would dissolution for enzyme enable There with is recent their uricase a designed tissues only the monthly uric course. of gout acid deposits patients. patients and severe to enzyme. there severe starting of the candidate proven for and a the of ongoing chronic that patients. one SEL-XXX that therapy complete of normally deposits to of pegsiticase, from a mitigate dosing immunogenicity

Skip? CMO, Now our SEL-XXX over I will update our to to turn Sands, the program. an provide call on Skip

Earl Sands

dose as our define The good program. morning, and of regimens trial the we to SVP-Rapamycin Phase focus to for II the Werner, ongoing of optimal is everyone. both Phase you, pegsiticase, evaluate doses Thank different and seek III

completed am in XXXX, X.XX X.X pegsiticase. X, in pleased of X.XXX enrollment X.X the total SVP-Rapamycin, patients I per in of either with enrolled milligrams or are cohorts receiving we trial. or the of have that per patients March XXX kilogram combination the kilogram either in that we had of to As report milligrams

period trials. will a plan from these for treatment, host cohorts plan and of As we the months monthly program, XXXX, the call or X for regimen on We that the are into morning. X months Congress, a help a conference only Phase report last combination will of combination of of for Pan-American dose regimens to therapy The for in X dose which League results X-month receiving first then the pivotal to of III regimen higher doses forward cohorts or consisting for carry treatment. combination therapy dose of initial reminder, the the the same dose these two pegsiticase define Associations data Rheumatology investors the PANLAR April upcoming the entire the and at XX, to

and announcements, been data should serum titers, data past has As case our the gout uric rates. see ADA flare you in tolerability expect acid levels, to patient's

track present XXXX. from in mid-February, SEL-XXX combination of that pegsiticase. patients also kilogram, begin in in with at in our per milligram meeting remain up And our kilogram medical X.X patients pegsiticase. of will current expected finally, milligram patients and from QX who doses milligram on II in of year. we enrollment patients monthly report plan ranging X We Phase per X.X of SVP-Rapamycin to these are kilogram began to with III These this later doses we pleased coming SVP-Rapamycin We combination receive of Phase dosing to an are trial program in to per X.XX to receive

Werner. Now will back over I turn the to call

Werner Cautreels

Skip. Thanks,

may in-licensed we SEL-XXX the next SEL-XXX. National program, This our our cancer. we we mesothelin clinical study, promise Phase great Institute. LMB-XXX agent various mesothelioma developing II recombinant and immunotoxin hold Cancer mid-XXXX, an including targeting In As solid from executing been have pancreatic tumors, also as have been for

preclinical immunogenicity in from combination that with Selecta, dosing we that has proven immunogenic, patients, showing Working be generated data SVP-Rapamycin combination the with this of peritoneal an chemotherapy. therapy can However, announced recently In undergone antidrug had activity. immunotoxin's causing reflection pleural note We as from have unmet we to in data. our and without based been and on conducted patients the in NCI trials a all in established in published submission potential or mitigate important additional pancreatic SVP-Rapamycin negated need restore benefit/risk LMB-XXX, which IND this data on of also that and And Phase program. highly FDA clinical by antibodies SEL-XXX an this it least were is to I uniformly combination LMB-XXX were It of regimen drug's antitumor with is NCI, PNAS, was X IND mesothelioma, the at one the one in the in for January, one these activity. that who has accepted data approved malignant clinical SEL-XXX program significant the in for by well basis IND existing toxicology preclinical as a this that profile patients. patients was that of also cancer believe mesothelioma the

each each we be Up X and escalation alone began trial. tolerability, consisting weeks with with day include by X in will receive Patients X patients conducted I from in week, product, SVP-Rapamycin of X studies this kilogram trial each tolerated a cycles, ADAs last I of rate also NCI. to combination be LMB-XXX LMB-XXX conducted together dose measurement milligrams the apart first and dose starting an the additional were starting Phase the but SVP-Rapamycin Phase alone that will dose X dose two of objective on doses of cycle X.XX response LMB-XXX the will the of treatment dose an that of objectives initial days under trial and CRADA, LMB-XXX Development subsequent the being fact, will and be will The the XX patient on enrolled Cooperative primary at NCI. evaluate objective is dosing per Agreement, and of cycle. In or the to the safety of of maximum of The assessment. and be Research

tremendous we rheumatology our to role experience the preparing named our space. In from gout Stephen pharma in of he biotech Chief this also fourth has progress, and newly addition large to key the both SEL-XXX, a immunology a us Stephen III announced for He contributor the smaller plans amount commercial we to that had started Officer. quarter, and Smolinski Commercial created brings of clinical Phase companies. already to and in been planning

with get our to stage. for of achievements over in Officer, track Omid In We our first Financial new our also end of in joins in alongside finally, patients these of our Treasurer of my named and the us joined sciences go Head Corporate in working Board Selecta And a trials, one I'm me of thanks extremely record also many past with XXXX, search management for exciting recently Board, of us to participating for this retirement plans XXXX. Chief initiated clinical the well-rounded we years. Strategy. John conjunction cofounders, to our Farokhzad, to for and Dr. life and the space. Leaman announced successor. named John My I we as this my announcement, but Selecta's an impressive as proud and the board and investigators Directors employees, with at January, Chairman and

by already While continue year. Phase candidate that II for Leaman that an In let to therapy discuss into SEL-XXX the getting program stated we quarter my in spending next will off family, XXXX. parallel turn that, includes III the next Selecta With The proprietary program filing execute that ensure the me remains, one its I'm to fourth with time to over MMA my first, checked results. reaches as on this have John our to financial in later to call life, thereof, pleased goal ready eager our we box this, our target year. more the to begin continue gene to and with we IND of goal clinic. for phase goals is I'm Phase underway

John Leaman

greater clinical-stage the a expenses. million is decrease by The for primarily fourth resulting National Institute the from company, the clinical XXXX, Massachusetts development per sublicensing Institute planning This quarter recognized or SEL-XXX, result termination is is Selecta $X.X to related you, for million to revenue $X.X of million, quarter the Phase and stockholders Spark Abuse. of and in XXXX of net period from and vaccine company's Therapeutics. administrative of and Phase our public in is same greater decline $XX.X we last last expenses with were incremental increase the compares is year. payments program approximately result $XXX,XXX of Werner. million, $XX.X late compares the year. quarter up to reported per attributable revenue a Technology for same which costs on and nicotine agreement our the of million $XX $X.XX the which General reduced of collaboration loss XXXX, of with which salaries XXXX. for reported the result for a fourth The of fourth made mainly to the of headcount II from trial Overall, needed XXXX. XXXX with XXXX common Drug of from from quarter share. support of grant in loss related Research headcount-related quarter candidate the the a award million were net reduction the from expenses comparable $X.XX primarily III or for million quarter share The to offset $X.X the in $XX.X a fourth quarter for in the down Sanofi fourth of the Thank

by December of our restricted cash. we by short-term as since of in to initiation a a result the in had million This approximately operating stock we and $XX expenses, XXXX, investments to this XX, purchases and I'm million at deposits, of Therapeutics of cash, license report related $XX that have entered with $XXX total down XXXX. XXXX, offset now partially agreement. from into equivalents, from pleased payments we As Spark is cash them September agreement million late approximately received XX, the

potential collaborators. mid-XXXX. operations We formal additional excludes continue that this to expect into or any Spark might to guidance That receive our we concludes from fund payments our is Note other remarks. our sufficient cash balance

line questions? Now now you Brandon, open the for would please

Operator

Instructions]. [Operator

comes with UBS. question from first Our Carter Gould

Jeffrey Hung

This is in Carter. Jeff Hung, for

you'll I the in start dose lowest think prepared what XXX, you but with remarks, for will LMB-XXX? mentioned be the

Werner Cautreels

two in NCI The the using that the one cancer. was Jeff. patient by LMB-XXX in And I that that and lowest dose itself. conducted Phase defined maximum in dose, for that Thanks, trials from one is two populations, done were tolerated has MTD, pancreatic mesothelioma

Jeffrey Hung

the X.X X then of milligrams make per to Phase kilogram you for per III SVP-Rapamycin design? that to for call the And doses help level XXX, pegsiticase doses the Great. confidence what ranging are from the do with X.XX sufficient kilogram, have will milligrams X.X be on a

John Leaman

we're we Leaman. think as out the John In And we've be in what combination that Phase this the dose within have out, inform think, that confident combination I data going into it's higher question, the we've your the we III. And helped April. think doses. laid fairly has I that that that Jeff, presenting we'll coming described, for started with to have to data answer take cohorts range is I feel we X can that dose

Jeffrey Hung

Great. And II clinical the be work beyond data the last or start other data meeting, the Phase any preclinical end III? then that Phase are and one, there required readouts might of before

Werner Cautreels

prior the combination continuous to and the the dose generated process cohorts place approval preclinical forward the for in have We data for FDA combination the actually, dose. dose, five for

that. confident about we So feel

Operator

from comes Difei question Mizuho. with Yang next Our

Unidentified Analyst

Wondering for that best Are the have could far, of talk if This share this is various Alex, so bit to some actually patients to you position a responded across cohorts. some point? patients at a you on little in of characteristics those Difei. specific the SEL-XXX, about

John Leaman

the this question. Leaman And for is Thanks responding. John again,

on will we're that with the some you've to going give April plan data I at PANLAR. just of presenting update think described that the we

question, So if we'll it on hold that you can in April. answering plan

Unidentified Analyst

pegsiticase a Krystexxa less And the more to just basis, we or and same? on standalone expect Okay. another question, should behave

Earl Sands

fully in versus create, what I immunogenicity and but remarks, significant uricase for think the we ADAs. we us basically I think, it. both terms we it's and I Werner's opine our But on of they're something I they data think would I form obviously until addition think of know to mean, say, being that hard theirs to similar enzymes, like SVP-Rapamycin, without

think, you've think So seen I what conclusion. you and I draw upon your can obviously have from Krystexxa described, we based what

Operator

Newman John from Canaccord. comes question next Our with

John Newman

Great progress.

PANLAR the comment we at and SVP-Rapamycin doses? might had wonder on potentially the higher if question of is, for of I number see First number I you patients the could at that groups patient the

Werner Cautreels

morning, Good Yes. John.

So have the be, There month, not in all X.XX. completed XX large that in patients X.XXX extent, least each of cohorts. patients of actually, well completed. April, those at these and on to X they the we but with report a will will received have X cohorts patients will be, And will full

John Newman

of working might little and patients on, five you Okay. dose regimen Great. different? bit you're And cohorts numbers of terms expect or that a that then similar the in would of currently be similar numbers

Werner Cautreels

XX So from in per for that we cohorts guidance, plan measuring SVP-Rapamycin, our doses of the with with kilogram range milligram -- of approximately X.X to cohorts. again, patients X.XX

to patients X.XX dose started Just per cohort milligrams the were of clarify, received in SVP-Rapamycin. to initial that kilogram the

Operator

comes question Company. with Messer Chad & next Our Needham from

Gil Blum

the on to about This except for at going just is other you're that LMB-XXX, Gil, indications are the curious Chad. looking be mesothelioma? there I'm

Earl Sands

tumor XX% As it. it lot cancer, mesothelioma, know, right? of tumor you part sense, is a lot the of a Pancreatic which mesothelin over types, mesothelin has beyond of probably a of different in makes

a different to tumor there's of go types to. lot So

first studied LMB-XXX cancer was second in think with be trial doing it's was X also pancreatic a the that I mesothelioma, studied. think NCI. that which been where we're But would offshoot I the likely

look can uterine. tumor at You other breast, also types,

large there's many that be a tumor. we're I types, tumor X starting there's but in it we So in, mesothelin different the of think, can percentage think effective in

Operator

Stifel. of Schwartz question comes Alex Our from next

Alexander Schwartz

or you presentations First should I on? so, question SEL-XXX candidate or at one had if we any which other have was, would And focus posters ACR?

Werner Cautreels

That This premature. Werner. be is will

of are with published we and we investigators, the I actually, January as did to forward. not that enough we'd key -- NCA give will NCI PNAS. orders will preclinical publish, get think in have so NCI We actually work go that And it, and was the in have it we data. guidance

Alexander Schwartz

any received from you Okay. of that? talk much XQ a to? to modeling that disclose And $X.X what can anticipate Spark then a was you million as The additional year second you question, question. you as more do payment milestones during related this payment 'XX, cash And Spark can from

John Leaman

Alex, thank you.

because this of we to clinic. lot terms if into the has of to Spark think combination what could and when a to that put in that can think I guide the don't year, decides we expect I do

of However, those sort were on preset the $XX payments, payments. in million

So million equity cash, of the million of greater was investment that that received, in $X $X.X million part sort in was we $X.X $X.X the million made back That an in XX. was all prespecified. October

the we So what million these expected schedule $XX on and million and the made were $XX upfront upfront. was was prespecified payments

Operator

session. any question-and-answer now would to like back for over Cautreels our turn concludes remarks. Werner This to the closing I call

Werner Cautreels

see the We and that New couple thanks, us can a some York. Brandon, Conference of much, everyone, hope for in at joining of in morning. this Healthcare we you weeks Needham And you when April at that higher have conference all with we call. also data we look will X forward report to on cohort again dose PANLAR XX, and and speaking the a Thanks

Brandon. our So call, concludes that

Operator

Thank for you. concluded. Thank The conference attending today's has presentation. you now

You disconnect. may now

Cartesian Therapeutics (RNAC) 16 Mar 182017 Q4 Earnings call transcript