SWITZERLAND – Swiss pharmaceutical leader Roche has announced a US $1 billion acquisition of Poseida Therapeutics, a biotechnology company based in San Diego specializing in cell and genetic therapies for cancer and rare diseases.
Under the agreement, Roche will pay US $9 per share, with an additional US $4 per share available through a contingent value right tied to research and commercial milestones.
The deal is expected to finalize between January and March 2025. Roche’s interest in Poseida builds on their existing collaboration from a 2022 licensing agreement.
The acquisition reflects Roche’s confidence in Poseida’s cutting-edge gene editing technologies, which focus on developing off-the-shelf allogeneic cell therapies that do not depend on patient-derived donor cells.
This move marks one of the largest premiums in biopharma acquisitions in recent years, with Roche’s offer representing a 215% increase over Poseida’s Monday closing share price.
Poseida’s pipeline targets a range of cancers, including prostate, breast, lung, and blood cancers like multiple myeloma and acute myeloid leukemia.
The company is also developing genetic medicines for liver-related conditions such as hemophilia A and hereditary angioedema.
The acquisition strengthens Roche’s position in the allogeneic cell therapy space.
Chief Medical Officer Levi Garraway stated that the deal aims to advance “potentially first- and best-in-class cell therapies in oncology, immunology, and neurology.” Garraway expressed optimism over early clinical data from Poseida’s programs.
Poseida has previously attracted significant interest from other major players. Earlier this year, Japan’s Astellas Pharma partnered with Poseida, paying US $50 million upfront with potential milestone payments of up to US $550 million to develop two cell therapies for solid tumors.
Meanwhile, Takeda Pharmaceuticals made a US $45 million investment in Poseida’s technology in 2021, though the agreement was later terminated in 2023.
The acquisition also provides Roche with Poseida’s in-house manufacturing capabilities, including its GMP-certified facility near its San Diego headquarters.
This facility is crucial for Poseida’s clinical production and strengthens Roche’s ability to scale operations in the competitive cell therapy market.
Furthermore, the deal positions Roche to compete in emerging areas like autoimmune diseases.
Poseida is preparing to explore the use of its cellular therapies for lupus and multiple sclerosis, further diversifying its portfolio.
While Roche has been working to catch up with peers in the cancer cell therapy space, this acquisition marks a significant step forward.
Alongside previous collaborations with Arsenal Biosciences and Adaptimmune, the Poseida deal solidifies Roche’s commitment to advancing cell and gene therapies for complex conditions.
Novartis and Kate Therapeutics
The news comes within days of fellow Swiss pharma giant Novartis acquiring San Diego, California-based adeno-associated virus (AAV) gene therapy for an undisclosed amount, but one suspected to be as much as US $1.1 billion.
The acquisition brings gene therapy candidates focused on treating Duchenne muscular dystrophy (DMD), facioscapulohumeral dystrophy (FSHD), and myotonic dystrophy type 1 (DM1).
It also includes the DELIVER platform, which improves the precision and safety of gene therapies by targeting specific tissues and minimizing off-target effects.
“This acquisition strengthens our neuroscience research efforts and demonstrates our commitment to addressing unmet needs in inherited neuromuscular diseases,” said Robert Baloh, Novartis’ global head of Neuroscience Research.
