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Roche to complete $1.5 billion acquisition of U.S. biopharma company Poseida
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Roche to complete $1.5 billion acquisition of U.S. biopharma company Poseida
Jan 7, 2025 11:21 PM

ZURICH, Jan 8 (Reuters) - Roche on Wednesday

said it planned to complete its purchase of U.S.

biopharmaceutical company Poseida Therapeutics ( PSTX ), 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.

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