BioCentury
ARTICLE | Finance

Selexys' sickle sale

Selexys A round by MPM comes with a Novartis option to buy hematology company

September 24, 2012 7:00 AM UTC

MPM Capital is betting that veterans from Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) can turn the firm's investment in hematology play Selexys Pharmaceuticals Corp. into a takeout within three years.

Last week, Selexys raised $23 million in a series A round led by MPM. The company also granted Novartis AG (NYSE:NVS; SIX:NOVN) an exclusive option to acquire the biotech following a Phase II trial of lead compound SelG1 in patients with sickle cell disease...