Roche in $1.5 bn deal to buy Poseida Therapeutics

Swiss pharmaceutical giant Roche said on Tuesday it has agreed to buy US biopharm firm Poseida Therapeutics for $1.5 billion (1.4 billion euros).

Roche, the world's number-one oncology group, will offer Poseida shareholders $9.0 per share and add a further $4.0 per share by way of a non-tradeable certificate to acquire the San Diego, California-based company

The deal, designed to put Roche at the forefront of donor-derived off-the-shelf cell therapies, is due to close in early 2025.

The boards of directors of both companies unanimously approved the deal for Poseida, whose shares had closed on Monday at $2.73.

Poseida Therapeutics' portfolio notably includes customised cell therapies for haematological cancers, solid tumours and auto-immune diseases.

The US firm offers chimeric antigen receptor (CAR-T) innovative therapies, involving taking cells from a patient's immune system and genetically modifying them in order to fight diseases.

Roche noted the acquisition builds on an existing partnership between the two companies following a 2022 collaboration and licence agreement.