WATERTOWN, Mass., March 26, 2019 (GLOBE NEWSWIRE) -- Selecta Biosciences, Inc. (Nasdaq: SELB), a clinical-stage biopharmaceutical company focused on unlocking the full potential of biologic therapies by mitigating unwanted immune responses, today announced that Elona Kogan, J.D. commenced her services as the company’s General Counsel and Corporate Secretary. In connection with the commencement of Ms. Kogan’s services, the company issued to Ms. Kogan an option to purchase an aggregate of 400,000 shares of the company’s common stock with a per share exercise price of $2.29, the closing trading price of the company’s common stock on the Nasdaq Global Market on March 25, 2019, and 100,000 performance-based restricted stock units. The option and the restricted stock units were granted pursuant to the company’s 2018 Employment Inducement Incentive Award Plan and were approved by the company’s board of directors. The option vests 25% on March 20, 2020 and in 36 substantially equal monthly installments over the three years thereafter and has a ten-year term. The restricted stock units vest upon the achievement of specified performance goals. The stock option and restricted stock units were granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as inducement material to Ms. Kogan’s entering into employment with the company.

About Selecta Biosciences, Inc.

Selecta Biosciences, Inc. is a clinical-stage biotechnology company focused on unlocking the full potential of biologic therapies based on its immune tolerance technology (ImmTOR) platform. Selecta plans to combine ImmTOR with a range of biologic therapies for rare and serious diseases that require new treatment options due to high immunogenicity. The company’s current proprietary pipeline includes ImmTOR-powered therapeutic enzyme and gene therapy product candidates. SEL-212, the company’s lead product candidate, is being developed to treat chronic refractory gout patients and resolve their debilitating symptoms, including flares and gouty arthritis. Selecta’s proprietary gene therapy product candidates are in preclinical development for certain rare inborn errors of metabolism and incorporate ImmTOR with the goal of addressing barriers to repeat administration. Selecta is based in Watertown, Massachusetts. For more information, please visit http://selectabio.com.