ZURICH (Reuters) – Switzerland’s Roche will acquire U.S. biopharmaceutical firm Poseida Therapeutics in an all-cash deal worth up to $1.5 billion, the companies said on Tuesday.
Poseida will be purchased for $9 per share in cash, and shareholders will also receive a non-tradable contingent value right of up to $4 per share if specific milestones are met, bringing the value of the deal to around $1.5 billion.
It is expected to close in the first quarter of 2025.
“We have worked closely with Roche through our collaboration focused on hematologic malignancies and are excited to join Roche to work together as colleagues across our portfolio and future programs,” said Kristin Yarema, president and CEO of Poseida, based in San Diego. in a statement.
Poseida and its employees will join Roche as part of the Swiss firm’s pharmaceutical division, Poseida said.
The acquisition will establish a new capability for Roche in allogeneic cell therapy, with opportunities focused on CAR-T programs covered by the existing collaboration between Poseida and Roche in hematological malignancies, the US firm said.
It will include CAR-T programs for solid tumors and autoimmune diseases, along with Poseida’s genetic engineering platform and related preclinical drugs, he added.