Covington Guides Selecta Biosciences Through Merger with Cartesian Therapeutics and Concurrent Private Placement

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Covington Guides Selecta Biosciences Through Merger with Cartesian Therapeutics and Concurrent Private Placement

November 13, 2023

NEW YORK—Covington represented Selecta Biosciences, a public clinical-stage biotechnology company, in its merger with Cartesian Therapeutics and concurrent $60.25 million private investment in public equity (PIPE).

As a result of the merger and PIPE, the combined company expects to have over $110 million on hand to support the development of Cartesian’s leading product candidate Descartes-08, a potential first-in-class RNA-engineered chimeric antigen receptor T-cell therapy (rCAR-T) for the treatment of myasthenia gravis, as well as the advancement of additional RNA cell therapy programs.

The Covington corporate team was led by Brian K. Rosenzweig, Jack Bodner, Sarah Griffiths, Gustavo Akkerman, Olivia Xie, Mark Edlund, Michelle Choi, and James DeFillippo. Additional team members included Jenna Wallace and Megan Woodford (employment benefits), Amy Toro and Natalie Oveyssi (life sciences), Ansgar Simon and Brian Harris (tax), Peter Safir (regulatory), and Greg Discher (intellectual property).