Roche to Complete $1.5 Billion Acquisition of Poseida Therapeutics to Expand Immuno-Oncology Pipeline

Intelligent Finance APP learned that Roche (RHHBY.US) said on Wednesday that it plans to complete the acquisition of U.S. biopharmaceutical company Poseida Therapeutics (PSTX.US). It is reported that Poseida focuses on developing complex immune cell therapies for various types of cancer.

Roche stated that it has accepted the payment of nearly 65 million shares of Poseida, equivalent to 66% of the company's stock. Shareholders bid at $9 per share and additionally pay up to $4 per share in contingent payments.

Considering this factor, the value of the transaction could reach approximately $1.5 billion.

The acquisition, announced in November last year, is Roche's latest move to expand its R&D pipeline to compensate for declining oncology drug sales.

Roche said on Wednesday: "Later today, Roche intends to complete the acquisition of Poseida... without a vote or Poseida shareholder meeting."

Roche stated that in the acquisition, all Poseida shares not owned by Poseida or Roche will be converted into the right to receive the same consideration per share.

Poseida Therapeutics to Become a Wholly-Owned Subsidiary of Roche, Adding So-Called Allogeneic CAR-T Cell Therapy, Which Uses Genetically Modified Immune Cells to Attack Cancer Cells or Treat Autoimmune Diseases.

Poseida is also committed to CAR-T programs targeting solid tumors and autoimmune diseases.