Novartis Leads $142M Series C Financing in Poseida Therapeutics to Advance Novel CAR-T Therapies for Malignant Tumors

VCBeat (WeChat ID: vcbeat) has learned that on April 22, biopharmaceutical company Poseida Therapeutics announced the completion of a $142 million Series C financing round. The round was led by Novartis with a $75 million investment, and followed by Aisling Capital, Pentwater Capital, and Perceptive Advisors. Existing investors Malin Corporation, Longitude Capital, Vivo Capital, and Boxer Capital also participated in this financing round.

Previously, Poseida Therapeutics completed its Series A, B, and C financing rounds in 2015, 2017, and 2018, respectively, raising a total of approximately $84 million.

Poseida Therapeutics is a clinical-stage biopharmaceutical company dedicated to translating best-in-class non-viral gene engineering technologies into life-saving therapies for the treatment of various challenging diseases. The company is independently developing autologous and allogeneic CAR-T (chimeric antigen receptor T-cell) candidates for the treatment of hematologic malignancies, solid tumors, and certain rare genetic disorders.

It is reported that Poseida plans to use this funding to comprehensively advance its ongoing CARCA-T programs, including gene therapies for rare genetic diseases. Dr. Eric Ostertag, CEO of Poseida, stated, “Novartis is a leader in the field of cell and gene therapy, with support from Novartis“gives us confidence in accelerating the development of gene therapy candidates. The company’s next research focus will be CAR-T therapy.”

Poseida has developed an industry-leading suite of gene editing technologies, including the piggyBac® DNA modification system, Cas-CLOVER™ and TAL-CLOVER™ site-specific nucleases, and Footprint-Free® gene editing. The company’s CAR-T candidate products are manufactured using the non-viral piggyBac® DNA modification system to generate large quantities of stem cell memory T cells (TSCM). As the only T cell subset with self-renewal and long-term persistence capabilities, TSCM cells enable the candidate products to be more efficacious, less toxic, and more durable.

Stem Memory T Cells (TSCM) are a cell subset discovered in recent years, accounting for approximately 2%–4% of total CD4+ and CD8+ T cells in peripheral blood. As an early differentiation stage of memory T cells, they possess characteristics of both memory cells and stem cells, with a gene profile intermediate between naïve T cells and central memory T cells. Stem memory T cells exhibit self-renewal capacity and long-term survival, making them a focal point of interest in oncology research.

Vivo Capital is an investment firm focused on the healthcare sector. Founded in 1996, it manages over $1 billion in assets. Vivo Capital currently primarily invests in promising healthcare companies in the United States and Greater China. Leveraging its expertise and operational experience in the medical field, Vivo’s current portfolio includes more than 80 biotechnology companies across the biopharmaceutical, specialty pharmaceutical, and medical device sectors.

Aisling Capital is a venture capital firm focused on the healthcare and biotechnology sectors, headquartered in New York, USA. Aisling Capital believes that the biotechnology-driven healthcare revolution will lead to a growing demand for capital. Therefore, the firm is committed to supporting leading global healthcare companies, helping them complete the development and commercialization of new therapies and products.

Global hedge fund Perceptive Advisors was founded in 1999 and is headquartered in New York, USA. The firm specializes in the biopharmaceutical industry, channeling capital and other resources into the most promising startups in modern healthcare. Perceptive Advisors manages approximately $4 billion in assets and has invested in more than 60 companies to date.

Longitude Capital, established in 2006, is a venture capital firm headquartered in California that primarily invests in biotechnology and medical technology companies. These companies are typically dedicated to improving clinical outcomes, enhancing quality of life, and reducing healthcare system costs. Since its inception in 2006, Longitude Capital has raised over $1.2 billion across its three funds.

Malin Corporation plc is an investment firm based in Dublin, Ireland. The company focuses on oncology, immunology, and genetic diseases, investing in highly innovative life sciences companies. It aims to provide long-term capital and strategic support to healthcare enterprises through its portfolio companies, delivering significant returns for patients and transformative medical outcomes.

Boxer Capital, a subsidiary of Tavistock Life Sciences, was founded in 2005 and is headquartered in Florida, USA. It invests in biotechnology drug development companies.

Pentwater Capital Management LP is a private investment firm headquartered in Florida, United States. The company focuses on investing in multi-technology, cross-disciplinary companies.

(Compiled by: Wang Yue)