SELECTA BIOSCIENCES, INC. (NASDAQ:SELB) Files An 8-K Entry into a Material Definitive Agreement

On July 23, 2019, Selecta Biosciences, Inc. (the “Company”) entered into a lease (the “Lease”) with BRE-BMR Grove LLC (the “Landlord”), to which the Company agreed to lease approximately 25,078 rentable square feet of office and laboratory space located on the first floor of 65 Grove Street, Watertown, Massachusetts (the “Premises”).

The term of the Lease is estimated to begin on March 10, 2020 and end on April 30, 2028. The Lease provides that base rent for the Premises will be $137,929.00 per month, or $66.00 per square foot annually, subject to an annual upward adjustment of 3% of the then current rental rate, starting on the first anniversary of the first payment of rent under the Lease, and other potential adjustments based on the Company’s utilization of certain tenant improvement allowances. Rent payments under the Lease will commence on the later of (i) May 1, 2020, and (ii) one month after the term of the Lease commences if the term commences after March 31, 2020.

As previously disclosed, the terms of the Company’s existing lease agreements for its laboratory and office space located at 480 Arsenal Way, Watertown, Massachusetts and 75 North Beacon Street, Watertown, Massachusetts each expire in March 2020.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

(a) Creation of a Direct Financial Obligation.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

About SELECTA BIOSCIENCES, INC. (NASDAQ:SELB)

Selecta Biosciences, Inc. is a clinical-stage biopharmaceutical company. The Company using its synthetic vaccine particle (SVP) technology to discover and develop targeted therapies that are designed to modulate the immune system to treat rare and serious diseases. The Company is engaged in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. The Company’s product candidates are in development. The Company’s SVP technology encapsulates an immunomodulator in biodegradable nanoparticles to induce antigen-specific immune tolerance to mitigate the formation of anti-drug antibodies (ADAs) in response to life-sustaining biologic drugs. The Company’s technology allows for the design of SVP therapies that can stimulate immune responses against a range of relevant antigens. Its initial immune-stimulating product candidate is a synthetic vaccine against nicotine for the market of smoking cessation and relapse prevention.