financetom
Business
financetom
/
Business
/
Roche to complete $1.5 billion acquisition of U.S. biopharma company Poseida
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Roche to complete $1.5 billion acquisition of U.S. biopharma company Poseida
Jan 7, 2025 11:01 PM

ZURICH (Reuters) -Roche on Wednesday said it planned to complete its purchase of U.S. biopharmaceutical company Poseida Therapeutics , a specialist in complex immune cell therapies to treat several types of blood cancer.

Roche said it has accepted for payment nearly 65 million shares in Poseida - equivalent to 66% of the California company's stock - which had been tendered by shareholders at a price of $9 per share, with an additional contingent payment of up to $4 per share.

The consideration takes the deal value up to around $1.5 billion.

The acquisition, announced in November, is the latest move by Roche to boost its development pipe-line to offset falling oncology sales.

"Later today, Roche intends to complete the acquisition of Poseida ...without a vote or meeting of Poseida's stockholders," Roche said on Wednesday.

In the takeover, all shares of Poseida not owned by Poseida, or Roche will be converted into the right to receive the same consideration per share, the Swiss company said.

Poseida, which will become a wholly owned subsidiary of Roche, will add so-called allogeneic CAR-T cell therapies, which use genetically modified immune cells to attack cancer cells or to treat auto immune diseases.

Poseida is also working on CAR-T programmes for solid tumours and autoimmune diseases.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved