Poseida Therapeutics (PSTX, Financial), a leader in allogeneic cell therapy and gene therapy, announced its acquisition by Roche Holdings for approximately $1.5 billion. The acquisition includes a cash payment of $9.00 per share and a non-tradable Contingent Value Right (CVR), offering shareholders up to an additional $4.00 per share upon achieving specific milestones. The transaction is expected to be completed in the first quarter of 2025.
Following the acquisition, Poseida will operate as part of Roche's pharmaceutical division, continuing to advance its non-viral CAR-T therapies and gene therapy projects. Since 2022, Poseida and Roche have collaborated on developing off-the-shelf CAR-T cell therapies for patients with hematologic malignancies. This acquisition signifies Poseida's formal integration into the Roche Group and anticipates further advancements in allogeneic cell therapies.
Roche's Chief Medical Officer, Levi Garraway, expressed that this acquisition will drive further breakthroughs in allogeneic cell therapy, building on the successful collaboration between the two companies. Poseida's President and CEO, Dr. Kristin Yarema, also expressed enthusiasm for the partnership, highlighting Roche's global strength in late-stage development and commercialization as pivotal in unlocking the potential of allo CAR-T therapies for patients worldwide.
As of the latest update, Poseida's pre-market stock surged over 222%, trading at $9.22.
