Roche in US$1.5 billion deal to buy Poseida Therapeutics

ZURICH: Swiss pharmaceutical giant Roche said on Tuesday it has agreed to buy US biopharm firm Poseida Therapeutics for US$1.5 billion (€1.4 billion).

Roche, the world’s number-one oncology group, will offer Poseida shareholders US$9.0 per share and add a further US$4.0 per share by way of a non-tradeable certificate to acquire the San Diego, California-based company.

The deal, designed to put Roche at the forefront of donor-derived off-the-shelf cell therapies, is due to close in early 2025.

The boards of directors of both companies unanimously approved the deal for Poseida, whose shares had closed on Monday at US$2.73.

Poseida Therapeutics’ portfolio notably includes customised cell therapies for haematological cancers, solid tumours and auto-immune diseases.

The US firm offers chimeric antigen receptor (CAR-T) innovative therapies, involving taking cells from a patient’s immune system and genetically modifying them in order to fight diseases.

Roche noted the acquisition builds on an existing partnership between the two companies following a 2022 collaboration and licence agreement.