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Press Release|Articles|August 14, 2023
Astellas and Poseida Therapeutics Plan to Invest in Redefining Cancer Cell Therapy
Author(s)Jill Murphy
Additionally, Poseida has approved Astellas as a board observer seat, which gives Astellas the right to attend Poseida’s scientific advisory board meetings and certain notice rights related to any potential change of control over Poseida.
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Astellas Pharma and Poseida Therapeutics announced on Aug. 10, 2023 a strategic investment to further support the development of cell therapies for cancer . According to a press release, Astellas will be investing a total of $50 million and a one-time $25 million payment for a right of exclusive negotiation and first refusal to license one of Poseida’s clinical-stage programs, P-MUC1C-ALLO1, which is an allogeneic chimeric antigen T cell (CAR-T) cell therapy in development for multiple solid tumor indications.
Additionally, Poseida has approved Astellas as a board observer seat, which gives Astellas the right to attend Poseida’s scientific advisory board meetings and certain notice rights related to any potential change of control over Poseida.
“By leveraging our extensive expertise, experience in cancer biology, and unique technologies, we are focused on reinvigorating the immune system’s ability to discover, disarm, and destroy cancers in more patients,” said Adam Pearson, chief strategy officer, Astellas, in a press release. “We believe that this investment fits strategically with our long-term vision of expanding our capability in immuno-oncology and will ultimately lead to the development of new therapeutics for patients in need of cancer immunotherapy.”
"This investment further validates the potential of our proprietary genetic engineering technology platform and cell therapy approach, and we look forward to working with Astellas to advance our shared vision and explore future opportunities for collaboration to further unlock that potential," said Mark Gergen, Poseida's chief executive officer, in a press release.
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