Roche is acquiring Poseida Therapeutics for $1.5 billion

Roche has signed an agreement to acquire Poseida Therapeutics in a deal valued at $1.5 billion.

The transaction includes Poseida’s clinical and preclinical CAR-T therapies and manufacturing capabilities.

As a result of the takeover, Poseida’s employees will also be integrated into Roche’s pharmaceutical department.

At closing, Roche will make a tender offer to acquire all of Poseida’s outstanding common shares for $9 per share in cash, together with a non-tradable contingent value right (CVR) for potential milestone payments totaling up to $4 per share in cash. This represents a total equity value of nearly $1 billion at the time of closing.

The merger agreement was unanimously approved by the boards of Roche and Poseida.

Following the takeover offer, Roche will acquire all remaining shares at the same price in a second merger.

The transaction will close in the first quarter (Q1) of 2025, subject to customary closing conditions, including tender of the majority of Poseida’s outstanding shares.

Levi Garraway, Roche’s chief medical officer and head of product development, said: “This exciting acquisition will enable us to drive further advances in allogeneic cell therapy while leveraging the successful existing partnership with Poseida.”

“We are very encouraged by the initial clinical data and this acquisition builds on our collective progress to advance the development of potentially first-in-class cell therapies in oncology, immunology and neurology.”

The Roche and Poseida partnership began in 2022 and focused on the development of off-the-shelf CAR T-cell therapies.

Roche will gain access to Poseida’s Good Manufacturing Practices (GMP) manufacturing capabilities and a range of research and development resources, including P-MUC1C-ALLO1, a Phase I allogeneic CAR-T program for solid tumors, and various genomic drug-clinical candidates .

Citi is acting as exclusive financial advisor to Roche, with Sidley Austin providing legal advice. Poseida is advised by Centerview Partners, with Cooley serving as legal counsel.

In September 2022, Roche signed an agreement to acquire Good Therapeutics.

“Roche Acquires Poseida Therapeutics for $1.5 Billion” was originally created and published by Pharmaceutical Technology, a brand owned by GlobalData.

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