Selexys raises $23M, grants Novartis acquisition option

Selexys Pharmaceuticals Corp. (Oklahoma City, Okla.) raised $23 million in a series A round from new investor MPM Capital and granted Novartis AG (NYSE:NVS; SIX:NOVN) an exclusive option to acquire the company. Selexys is eligible for up to $665 million, including an option fee, an upfront payment, and milestone and acquisition payments. The option is exercisable following the completion of a Phase II trial of Selexys' SelG1 to treat sickle cell disease. The trial is slated to start late this year or early next year, with data expected in late 2014 or early 2015. The humanized mAb against P-selectin has completed a Phase I trial in healthy volunteers. The companies declined to provide details of the deal. ...