Pharmaceutical giant Roche to acquire therapy firm Poseida Therapeutics
Date
11/26/2024 8:23:37 AM
(MENAFN) Swiss pharmaceutical giant Roche announced on Tuesday that it will acquire Poseida Therapeutics, a cell therapy company, for a total transaction value of USD1.5 billion. This Acquisition is part of Roche's strategy to expand its capabilities in the field of cell therapies, particularly in oncology, immunology, and neurology. Roche highlighted that Poseida’s expertise in donor-derived off-the-shelf cell therapies positions the company uniquely to develop potentially "first and best-in-class therapies" in these therapeutic areas. The transaction is expected to be completed in the first quarter of the upcoming year.
The acquisition will be made at a price of USD9 per share, with shareholders of Poseida also receiving a non-tradeable contingent value right worth about USD4 per share. This brings the total value of the deal to approximately USD1.5 billion. The terms of the deal reflect Roche’s strong commitment to Poseida’s potential in advancing the development of innovative cell therapies.
Poseida Therapeutics, a public clinical-stage biopharmaceutical company based in California, is known for its work in donor-derived CAR-T (chimeric antigen receptor T) cell therapies. The company’s research and development portfolio includes both pre-clinical and clinical-stage therapies for a wide range of conditions, including hematological malignancies, solid tumors, and autoimmune diseases. In addition to its therapeutic pipeline, Poseida also possesses manufacturing capabilities and cutting-edge technology platforms that will complement Roche's existing operations.
This acquisition is a significant move for Roche, as it continues to strengthen its position in the growing field of cell-based therapies, particularly those that have the potential to be more accessible and cost-effective due to their off-the-shelf nature. The addition of Poseida’s innovations will likely accelerate Roche’s efforts to develop next-generation treatments for complex diseases.
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