Selecta out-licenses IdeXork to Astellas

Massachusetts, USA-based biotech Selecta Biosciences’ (Nasdaq: SELB) shares were up 11% at $1.37, after it announced an exclusive licensing and development agreement with Japan’s Astellas Pharma (TYO: 4503) for IdeXork (Xork).

Xork is being studied as a potential next generation immunoglobulin G (IgG) protease that will be developed by Astellas for use with AT845, an investigational, adeno-associated virus (AAV)-based treatment for late-onset Pompe disease (LOPD) in adults.

“Currently many patients are ineligible for clinical trials with investigational AAV gene therapy products due to the presence of naturally occurring antibodies against AAV gene therapy capsids,” said Carsten Brunn, president and chief executive of Selecta.