Roche To Complete $1.5 Billion Acquisition Of Poseida Therapeutics

Roche has announced that it plans to finalize its acquisition of U.S. biopharmaceutical company Poseida Therapeutics, a specialist in advanced immune cell therapies for treating various blood cancers, according to John Revill’s report for Reuters.

Poseida will become a wholly owned subsidiary of Roche. I Photo: Roche

Roche stated that it had accepted for payment nearly 65 million shares in Poseida, representing 66% of the California-based company’s stock, tendered by shareholders at a price of $9 per share.

Additionally, there is a contingent payment of up to $4 per share, bringing the total deal value to approximately $1.5 billion.

The acquisition, initially announced in November, is part of Roche's strategy to strengthen its development pipeline in response to declining oncology sales.

“Later today, Roche intends to complete the acquisition of Poseida without a vote or meeting of Poseida’s stockholders,” the company said.

Following the takeover, all Poseida shares not already owned by Poseida or Roche will be converted into the right to receive the same per-share consideration.

Poseida will become a wholly owned subsidiary of Roche, adding its innovative allogeneic CAR-T cell therapies—which utilize genetically modified immune cells to attack cancer cells or treat autoimmune diseases—to Roche's portfolio.