SWITZERLAND’S Roche will acquire its US collaboration partner Poseida Therapeutics in a cash deal worth up to US$1.5 billion, banking on complex immune cell therapies against several types of blood cancer.
Roche will pay US$9 per share in cash and stockholders will also receive a non-tradeable contingent value right for up to US$4 per share based on achievements, the companies said in a statement on Tuesday (Nov 26), taking the deal value to up to around US$1.5 billion.
It is expected to close in the first quarter of 2025.
“We have worked closely with Roche through our collaboration focused on hematologic malignancies, and we are excited to join Roche to work as colleagues together across our pipeline and future programs,” Kristin Yarema, president and CEO of the San Diego-based Poseida, said in a statement.
Roche CEO Thomas Schinecker is pursuing a variety of therapeutic fields to offset falling oncology sales. He has set a high deal pace to restore a development pipeline that was hit by trial setbacks in Alzheimer’s and cancer immunotherapy in 2022.
Roche in December agreed to take over Carmot for US$2.7 billion upfront, seeking to challenge dominant makers of new weight-loss drugs.
The Poseida acquisition will add so-called allogeneic CAR-T cell therapies, which use genetically modified immune cells to attack cancer cells or to treat autoimmune diseases.
Poseida is also working on CAR-T programmes for solid tumours and autoimmune diseases, along with Poseida’s genetic engineering platform and related medicines in early research stages, it added. REUTERS
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