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Global biotechnology company Roche has announced an agreement to acquire Poseida Therapeutics—a publicly traded clinical-stage biopharmaceutical company that develops differentiated off-the-shelf (allogeneic) cell therapies and genetic medicines with the ability to cure.

With this new deal, Roche aims to tap into Poseida’s considerable manufacturing capabilities, technology platforms, as well as its promising biologics pipeline.

This pipeline includes investigational allogeneic CAR-T cell therapies for solid tumors, hematological cancers, and autoimmune diseases, and investigational in vivo genetic medicines that target patient groups with significant unmet health care needs.

In the terms of the acquisition agreement, Roche will immediately launch a tender offer to buy all of the remaining Poseida common stock at a price of US $9.00 per share in cash at closing, plus a non-tradeable contingent value right to receive certain milestone payments of up to an aggregate of US $4.00 per share in cash, which would represent a total deal value of up to US $1.5 billion.

Based on Poseida's closing share price on November 25, 2024, the price payable at closing represents a premium of almost 215%.

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

On Roche’s side, the company will get access to Poseida's GMP manufacturing capabilities, additional R&D portfolio assets, and their knowledge and skills after the deal closes.

These include the allogeneic CAR-T program P-MUC1C-ALLO1, presently in Phase 1 for solid tumors, as well as preclinical candidates in genomic medicine and associated technologies.

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The agreement also stipulates that current Poseida staff members will become part of the Roche Group's Pharmaceuticals Division.

 “This exciting acquisition will allow us to drive further progress in allogeneic cell therapy while leveraging the successful existing partnership with Poseida," said Levi Garraway, Chief Medical Officer at Roche.

"We are very encouraged by the early clinical data, and this acquisition builds on our joint progress to catalyze the development of potentially first- and best-in-class cell therapies in oncology, immunology, and neurology," Levy added.

Subject to customary closing conditions, such as the tendering of at least a majority of the outstanding shares of Poseida's common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the transaction is anticipated to close in the first quarter of 2025.

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