(Reuters) - Switzerland's Roche will acquire U.S. biopharma firm Poseida Therapeutics in a cash deal worth up to $1.5 billion, the companies said on Tuesday.
Poseida Therapeutics shares jumped 224% in morning trading.
Poseida is to be bought at $9 per share in cash, and stockholders will also receive a non-tradeable contingent value right for up to $4 per share if specific milestones are met, taking the deal value to up to around $1.5 billion.
It is expected to close in the first quarter of 2025.
"We have worked closely with Roche through our collaboration focused on hematologic malignancies, and we are excited to join Roche to work as colleagues together across our pipeline and future programs," said Kristin Yarema, president and CEO of the San Diego-based Poseida, in a statement.
Poseida and its employees will join Roche as part of the Swiss firm's pharmaceuticals division, Poseida said.
The acquisition will establish a new capability for Roche in allogeneic cell therapy, with opportunities focused on CAR-T programs covered by existing collaboration between Poseida and Roche in hematologic malignancies, the U.S. firm said.
It will include CAR-T programs for solid tumours and autoimmune diseases, along with Poseida's genetic engineering platform and related pre-clinical medicines, it added.
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