Poseida Secures $1.5bn Boost via Roche Acquisition
Deal News | Jan 09, 2025 | EIN
Roche Holding AG has finalized its $1.5 billion acquisition of Poseida Therapeutics, a clinical-stage developer focusing on cell and gene therapies (CGT). Under the terms of the agreement, originally announced in December 2024, Roche acquired 66.11% of Poseida's outstanding common stock, totalling approximately 65 million shares at a price of $9 per share. An additional non-tradeable contingent value right (CVR) was also included, offering up to $4 per share. The acquisition will result in the merger of Blue Giant Acquisition Corp., a subsidiary of Roche, with Poseida, effectively removing Poseida’s stock from the Nasdaq Global Select Market. Roche’s association with Poseida dates back to a $110 million partnership in 2022 to license CAR-T cell therapy technologies for multiple myeloma and B cell disorders. Poseida's recent Phase 1 trials demonstrated promising results, particularly for heavily pretreated multiple myeloma patients. The announcement follows Poseida showcasing their CGT advancements at the American Society of Hematology Annual Meeting in 2024.
Sectors
- Biotechnology
- Healthcare
Geography
- Switzerland – Roche Holding AG's headquarters location as the acquiring company.
- United States – Poseida Therapeutics is a U.S.-based company and the location of key clinical trial results.
Industry
- Biotechnology – The acquisition involves Poseida Therapeutics, a clinical-stage company specializing in biotechnology for cell and gene therapies.
- Healthcare – Involves Roche Holding AG's strategic expansion in advancing treatment options for multiple myeloma and B cell disorders.
Financials
- $1.5 billion – The total valuation of the acquisition deal between Roche and Poseida.
- $9 per share – Price paid per share of Poseida's common stock.
- $4 per share – Potential value under the terms of the contingent value right (CVR).
- $110 million – The amount involved in the licensing deal between Roche and Poseida in 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Roche Holding AG | Acquirer | Company | Roche is a global pioneer in pharmaceuticals and diagnostics. |
| Poseida Therapeutics | Target | Company | A clinical-stage biotechnology company developing CAR-T therapies. |
| Blue Giant Acquisition Corp. | Merger vehicle | Company | A subsidiary of Roche used in the merger process with Poseida. |
| Bhagirathbhai Dholaria | Commentator | Person | Associate professor of medicine providing insights on Phase 1 data results. |
| Vanderbilt-Ingram Cancer Center | Research Institution | Other | A prominent cancer center involved in clinical trials and research. |