Roche Inks Deal to Acquire Poseida Therapeutics

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Roche has agreed to acquire Poseida Therapeutics, a biopharmaceutical company specializing in donor-derived allogeneic chimeric antigen receptor (CAR) T-cell therapies for oncology, immunology, and autoimmune diseases. According to the company, Roche will gain access to Poseida’s pipeline, including key programs such as P-BCMA-ALLO1, an allogeneic CAR T- cell therapy for multiple myeloma, and P-CD19CD20-ALLO1, a dual CAR T-cell therapy in early trials for B-cell malignancies and autoimmune diseases. The deal comes after the companies first started collaborating in 2022. The acquisition also includes Poseida's GMP manufacturing capabilities and genomic medicine assets.¹

“This exciting acquisition will allow us to drive further progress in allogeneic cell therapy while leveraging the successful existing partnership with Poseida,” said Levi Garraway, head, product development, chief medical officer, Roche, in a press release. “We are very encouraged by the early clinical data, and this acquisition builds on our joint progress to catalyze the development of potentially first and best-in-class cell therapies in oncology, immunology and neurology.”

Under terms of the deal, Roche will pay a total of $1 billion, with the potential for Poseida shareholders to receive up to $1.5 billion pending the completion of a number of milestones. According to Roche, the price payable at closing represents a premium of approximately 215% to Poseida’s closing share price on November 25, 2024. The transaction is expected to close in the first quarter of 2025 and is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of Poseida’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.¹

According to the American Cancer Society, there will be approximately 35,780 new cases of multiple myeloma diagnosed in the United States by the end of this year, with 12,540 deaths expected to occur. The average lifetime risk of getting multiple myeloma in the United States is currently less than 1%, equal to one in 103 men and one in 113 women. It is most common in older people, with only 1% of all cases being in patients under 35 years of age. In most cases, patients are at least 65 years of age, with a median diagnosis age of 69 years.²

According to Targeted Oncology, the prevalence of B-cell malignancies varies depending on the type of malignancy. B-cell lymphomas account for 85% of all non-Hodgkin lymphomas (NHL). Of these B-cell lymphomas, diffuse large B-cell lymphoma has a 30% incidence rate, making it the highest. Following this is follicular lymphoma, which accounts for 20% of all cases. B-cell lymphomas mostly occur in older adults, with a median diagnosis age of 66 years for NHL and 72 years for chronic lymphocytic leukemia (CLL). It is mostly found in Caucasian populations and is rare in Asian populations. It is more common in men and could potentially be caused by chemical and radiation exposure.

The five-year survival rate for patients with NHL is 69.3%, with a median age at death of 76 years. The five-year survival for CLL is 79%, and also varies by stage.³

“Our interest in cell therapy is directly tied to our commitment to discovering and developing pioneering medicines with substantial patient benefit,” said Aviv Regev, head, Genentech research & early development, in the press release. “We are excited to bring together cutting-edge scientific approaches and expertise to tap into the full transformative potential of cell therapy.”

References

1. Roche enters into a definitive agreement to acquire Poseida Therapeutics, including cell therapy candidates and related platform technologies. Roche. November 26, 2024. Accessed December 2, 2024. https://www.roche.com/media/releases/med-cor-2024-11-26b

2. Key Statistics About Multiple Myeloma. American Cancer Society. Accessed December 2, 2024. https://www.cancer.org/cancer/types/multiple-myeloma/about/key-statistics.html

3. Epidemiology in B-Cell Malignancies. Targeted Oncology. July 9, 2014. Accessed December 2, 2024. https://www.targetedonc.com/view/epidemiology-in-b-cell-malignancies