Deal to focus on Poseida’s commitment to cancer cell therapy.
Astellas and Poseida Therapeutics, a clinical-stage biotechnology company, have announced an investment agreement in which Astellas will financially support the advancement of the biopharma’s efforts to advance cancer cell therapy. Investing a total of $50 million, Astellas will acquire 8.8 percent of Poseida with a right of exclusive negotiation and first refusal to license one of Poseida’s clinical stage programs.
“We are excited to enter this strategic relationship with Astellas, a premier biopharmaceutical company that shares our long-term vision that cell and gene therapies represent an exciting growth area for the development of innovative medicines for improving patient care,” said Mark Gergen, CEO, Poseida, in a company press release. “This investment further validates the potential of our proprietary genetic engineering technology platform and cell therapy approach, and we look forward to working with Astellas to advance our shared vision and explore future opportunities for collaboration to further unlock that potential.”
Reference: Astellas and Poseida Therapeutics Announce Strategic Investment to Support Poseida’s Commitment to Redefining Cancer Cell Therapy. PR Newswire. August 7, 2023. Accessed August 7, 2023. https://www.prnewswire.com/news-releases/astellas-and-poseida-therapeutics-announce-strategic-investment-to-support-poseidas-commitment-to-redefining-cancer-cell-therapy-301894277.html
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