Roche Enters Definitive Merger Agreement to Acquire Poseida Therapeutics

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Swiss biotechnology company, Roche, has entered into a definitive agreement to acquire clinical-stage biopharmaceutical company, Poseida Therapeutics. The merger agreement was announced by Roche in a Nov. 26, 2024 company press release (1).

Under the terms of the merger, Roche will gain access to Poseida’s good manufacturing practice (GMP) manufacturing capabilities and its R&D assets, in addition to the programs and pipeline products that the companies are currently collaborating on. Assets that will be incorporated fully into the Roche Group on completion of the acquisition include allogeneic chimeric antigen receptor (CAR) T-cell therapeutic programs aimed at B-cell malignancies, hematologic malignancies, and solid tumors, among other things.

“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, head of Product Development and chief medical officer at Roche, in the press release (1). “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.”

The merger agreement between the two companies builds upon their existing strategic relationship that was initially formed in 2022 and was aimed at the development of off-the-shelf CAR-T cell therapies to address the unmet medical needs of patients with hematologic malignancies (2). Moving forward, Poseida therapeutics, Roche, and Genetech—a member of the Roche Group—will focus on delivering the next generation of off-the-shelf CAR-T cell therapies with higher potency and favorable safety at scale to be able to reach a broader patient population.

“Our interest in cell therapy is directly tied to our commitment to discovering and developing pioneering medicines with substantial patient benefit,” added Aviv Regev, head of Genentech Research & Early Development. “We are excited to bring together cutting-edge scientific approaches and expertise to tap into the full transformative potential of cell therapy.”

A tender offer will be provided by Roche to acquire all outstanding shares of Poseida Therapeutics’ common stock at a value of US $9 per share, which represents a total equity value of approximately US $1 billion. Both boards of Roche and Poseida Therapeutics have already unanimously approved the merger agreement. The transaction is expected to close during the first quarter of 2025 and is subject to the relevant closing conditions.

References

1. Roche. Roche Enters into a Definitive Agreement to Acquire Poseida Therapeutics, Including Cell Therapy Candidates and Related Platform Technologies. Press Release, Nov. 26, 2024.
2. Poseida Therapeutics. Poseida Therapeutics Announces Strategic Global Collaboration with Roche Focused on Allogeneic CAR-T Cell Therapies for Hematologic Malignancies. Press Release, Aug. 3, 2022.