Roche Set to Finalize $1.5 Billion Acquisition of U.S. Biopharma Firm Poseida

ZURICH: Roche (ROG.S) announced on Wednesday that it aims to finalize its acquisition of U.S. biopharmaceutical firm Poseida Therapeutics (PSTX.O), which focuses on intricate immune cell therapies for various forms of blood cancer.  Roche announced that it has approved for payment almost 65 million shares in Poseida - representing 66 per cent of the California firm's stock - which were offered by shareholders at a price of $9 each, alongside a potential extra payment of up to $4 per share. 

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Roche Acquires Poseida for $1.5B

The valuation raises the deal amount to approximately $1.5 billion.  The purchase, revealed in November, is Roche's most recent step to enhance its development pipeline to counteract declining oncology revenues. “Roche plans to finalize the acquisition of Poseida later today ...without a vote or gathering of Poseida's shareholders,” Roche stated on Wednesday. 

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During the acquisition, every share of Poseida not held by Poseida or Roche will be changed into the entitlement to receive identical compensation per share, stated the Swiss firm.  Poseida, set to become a fully owned subsidiary of Roche, will incorporate allogeneic CAR-T cell therapies, utilizing genetically altered immune cells to target cancer cells or address autoimmune disorders. Poseida is additionally developing CAR-T programs for solid tumors and autoimmune conditions.