Roche Acquires Poseida Therapeutics in a $1.5 Billion Deal
In a strategic acquisition set to advance its cell therapy capabilities, Roche Holdings, Inc. announced its acquisition of Poseida Therapeutics (PSTX) for up to $13 per share, amounting to an equity value of approximately $1.5 billion. The transaction includes $9.00 per share in cash at closing, alongside a contingent value right (CVR) of up to $4.00 per share, contingent on meeting specific future milestones. Poseida, known for its innovative allogeneic cell therapies, will integrate into Roche’s Pharmaceuticals Division, marking a significant expansion of Roche’s portfolio in oncology and genetic medicines.
Poseida has developed a non-viral technology platform centered around T stem cell memory (TSCM)-rich CAR-T therapies. These TSCM cells, which are long-lasting and self-replicating, present promising benefits over traditional CAR-T therapies by potentially enhancing both safety and efficacy. By leveraging this technology, Poseida has crafted therapies aimed at treating various cancers, autoimmune disorders, and rare diseases.
Roche’s acquisition of Poseida will strengthen its ongoing efforts in allogeneic CAR-T therapies, particularly in hematologic cancers. This move builds on an existing strategic collaboration between the two companies, focused on leveraging Poseida’s platform to target hematologic malignancies. Roche aims to expand its cell therapy focus beyond hematologic cancers to address solid tumors and autoimmune conditions using Poseida’s cutting-edge non-viral CAR-T engineering.
Kristin Yarema, Ph.D., CEO of Poseida, highlighted the benefits of Poseida’s technology in a statement. “Poseida has demonstrated the unique ability of its proprietary non-viral platform to create allogeneic, TSCM-rich CAR-T therapies with the potential to improve clinical outcomes,” Yarema said. She added that Roche’s global reach and expertise in late-stage development and commercialization could make Poseida’s transformative therapies available to more patients worldwide.
Under the terms of the merger, Roche will initiate a tender offer for all outstanding Poseida shares at $9.00 per share, along with a non-tradeable CVR that could bring an additional $4.00 per share if specific developmental and regulatory milestones are achieved. The closing of the acquisition is dependent on standard conditions, including regulatory approvals and the tender of a majority of Poseida’s outstanding shares. Once these conditions are met, any remaining shares will be acquired through a secondary merger at the same terms.
This acquisition places Roche at the forefront of the emerging market for non-viral CAR-T therapies, allowing the pharmaceutical giant to capitalize on Poseida’s unique approach and further its mission of delivering innovative treatments to patients worldwide.
Read original press release here
You might like this article: Rivian Secures $6.6 Billion DOE Loan Commitment to Drive Expansion in U.S. Manufacturing
