Sanofi-backed Selecta Biosciences had raised $117m prior to the offering, and will use the proceeds to advance its gout treatment through clinical trials.
Selecta Biosciences, a US-based biopharmaceutical company backed by pharmaceutical firm Sanofi, has raised $70m in an initial public offering on Nasdaq, pricing five million shares at $14 each.
The price represented the lower end of the range set by Selecta on Monday, but the number of shares in the offering was increased from 4.25 million.
Selecta is developing synthetic vaccine particle technology to treat rare and serious diseases by modulating the immune system. It will spend $23m of the…
