Astellas And Poseida Therapeutics Announce Strategic Investment To Support Poseida's Commitment To Redefining Cancer Cell Therapy; Astellas To Invest $50M To Acquire 8.8% Of Poseida And Receive Right Of Exclusive Negotiation And First Refusal
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Astellas is set to invest $50 million to acquire approximately 8.8% of clinical-stage biotechnology company Poseida Therapeutics. The investment will also grant Astellas exclusive negotiation rights and first refusal for potential partnering of P-MUC1C-ALLO1, a CAR-T cell therapy product candidate for solid tumors. Astellas will also have the right to designate an observer on the Poseida Board of Directors and Poseida's scientific advisory board.
August 07, 2023 | 1:03 pm
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Poseida Therapeutics is set to receive a $50 million investment from Astellas, which will acquire an 8.8% stake in the company. This could potentially boost Poseida's financial stability and accelerate the development of its CAR-T cell therapy product.
The investment from Astellas could provide Poseida with the necessary financial resources to continue its research and development activities, potentially leading to the advancement of its CAR-T cell therapy product. This could increase investor confidence in Poseida, potentially leading to a rise in its stock price.
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