From Partnership to Acquisition: The $1.5 Billion Journey of Roche and Poseida Therapeutics

Acquisition Agreement:
Poseida Therapeutics, Inc. has entered into a merger agreement to be acquired by Roche Holdings, Inc. for a total equity value of approximately $1.5 billion2 4.

Transaction Terms:
The acquisition price is $9.00 per share in cash at closing, plus a non-tradeable contingent value right (CVR) to receive up to an aggregate of $4.00 per share in cash upon achievement of specific milestones2 4.

Background:
The acquisition traces back to August 2022 when Roche and Poseida formed a strategic partnership, with Roche paying $110 million upfront1 3.

Strategic Impact:
The acquisition will establish a new core capability for Roche in allogeneic cell therapy, focusing on CAR-T programs for hematologic malignancies, solid tumors, and autoimmune diseases2 5.

Poseida's Technology:
Poseida has pioneered a proprietary non-viral technology platform to design, develop, and manufacture allogeneic T stem cell memory cells (T SCM)-rich CAR-T therapies, which are considered ideal for CAR-T therapy due to their long-lived, multi-potent, and self-replicating nature2 5.

Closing Expectations:
The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions, including regulatory review and the tender of a majority of Poseida's outstanding shares2 4.