Selecta Biosciences, which is developing nanoparticles that modulate the immune system to enhance drugs, announced terms for its IPO on Wednesday.
The Watertown, MA-based company plans to raise $64 million by offering 4.3 million shares at a price range of $14 to $16. Insiders intend to purchase $40 million worth of shares (63%) in the offering. At the midpoint of the proposed range, Selecta Biosciences would command a fully diluted market value of $271 million.
Selecta Biosciences was founded in 2007 and booked $7 million in collaboration for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol SELB. UBS Investment Bank and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 20, 2016.
