Selecta Biosciences, Inc. (NASDAQ:SELB) Q4 2022 Earnings Call Transcript

Kristen Kluska: Then the second part on gene therapy is, how would you say that general awareness of the platform potential here has increased given you’ve had more data over time, there have been safety and durability hiccups from others in this space as well as, of course, you’re seeing the number of deals you’ve been able to execute as well.

Carsten Brunn: Can you just repeat the question, you were breaking up here on my end, sorry.

Kristen Kluska: Yes. Sorry about that. The question was just on understanding the awareness of the platform potential. Given you’ve had more data, there have been some safety and durability hiccups in this space as well as just seeing the execution you’ve had through striking deals with others.

Carsten Brunn: Got it. Yes, sorry about that. Yes, I mean there’s — obviously, there is increased awareness and there have been a number of setbacks the last two years in the gene therapy field with toxicities associated with AAV. So I think there’s acute awareness around ImmTOR and the potential of ImmTOR, but also, we really position ourselves as a solution provider, addressing some of the key challenges in gene therapy, which, number one, is the ability to potentially redose with ImmTOR but also secondly, with our IgG Protease Xork to increase the number of patients eligible to genotherapy as well. And I think our deal with Astellas is testament to that. There’s a lot of awareness and interest in the platform in gene therapy. And we’ve been pretty outspoken. This is really a vertical we want to pursue from a partnering perspective.

Kristen Kluska: Great. And then the last question I have for you is just how many roughly liver diseases do you believe more ImmTOR-IL could be evaluated in? And then what are some of the criteria on your wish list essentially when choosing which indication you might start with?

Carsten Brunn: Yes, that’s a great question. And I’ll actually throw this question to our resident hepatologist, Peter, and maybe talk about PBC, but also other indications we’re interested in and why we’re interested in that. Peter?

Peter Traber: Yes. Thanks, Carsten. And thanks for the question, Kristen. I think that we’re going to be giving once the DISSOLVE data comes out and so forth, we’re going to be really giving a lot more information on how we’ve chosen, how we will choose diseases for ImmTOR-IL. But to your specific question about liver diseases, there are a number of clearly autoimmune liver diseases which are T-cell mediated and affect the liver. PBC is a quintessential one, but there are others that are even more clinically important and have more unmet medical needs, such as autoimmune hepatitis. There are a couple of types of that disorder, primary biliary cholangitis, which is associated with inflammatory bowel diseases and clearly has an autoimmune underlying mediology.

And then there are overlap syndromes with parts of each — PBC with autoimmune hepatitis and so forth. But those — collectively, those autoimmune liver diseases represent a significant number of affected individuals and significant unmet medical need. While there’s therapy in PBC available, as you know, there’s only a single approach to AI autoimmune hepatitis and no successful therapies in primary sclerosing cholangitis, PSC. So we think that there’s an area there to make an impact, which will be one of our focuses. Not the only focus we’ll have in autoimmune disease, but a key one.

Operator: The next question comes from John Newman of Canaccord Genuity.