Roche buys Poseida Therapeutics for $1.5 billion

Tuesday 26th November 2024 03:15 AM

Pharmaceutical giant –

The Rhine group wishes to position itself in the new field of allogeneic cell therapies by purchasing the Californian developer.

Published today at 7:44 a.m.

The Basel pharmaceutical giant will pay 8 francs per share, which represents a total amount of around 1 billion dollars.

KEYSTONE/Georgios Kefalas

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Roche has reached an agreement to buy California-based gene and cell therapy developer Poseida Therapeutics. This operation, which should be finalized in the first quarter of 2025, will cost the Basel pharmaceutical giant up to $1.5 billion.

The acquisition builds on the existing partnership between Roche and Poseida since 2022, which focuses on the development of ready-to-use CAR-T cell therapies to meet the medical needs of patients with hematologic malignancies, Roche announced Tuesday in a press release.

In detail, Roche will pay 9 US dollars (8 francs) per share in cash at the time of finalization, which represents a total amount of approximately 1 billion dollars. Shareholders will also receive a non-tradable contingent value right for up to $4 per share in cash, representing a total value of approximately US$1.5 billion.

The fixed part alone already represents more than three times Poseida’s closing price on Nasdaq on Monday.

The Rhine group thus intends to expand its range of therapies in the fields of oncology, immunology and neurology and position itself in the new field of allogeneic cell therapies.

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