fergregory/iStock via Getty Images Investment Overview San Diego based Poseida Therapeutics (NASDAQ: PSTX ) opted to abandon plans to launch its initial public offering back in April 2019, instead completing a Series C financing worth $142m, which was led by a $75m equity investment from Danish Pharma giant Novartis ( NVS ). Poseida is a cell therapy specialist that was spun out of Transposagen Biopharmaceuticals in 2015. Transposagen is a genetic engineering platform technology specialist whose CEO and President of 13 years Dr. Eric Ostertag became CEO of Poseida, serving in the role until 2022, when he became Executive Chairman. 18 months later, Poseida did complete an IPO – after raising a further $110m via a Series D financing – raising ~$224m via the issuance of 14m shares at $16 per share. It’s lead candidate throughout this period was a B-cell maturation antigen ("BCMA") CAR-T therapy, P-BCMA-101 indicated for multiple myeloma. P-BCMA-101 was an autologous CAR-T candidate that had shown early promise, but despite the progress made in this drug class (there are now 6 FDA approved autologous on the market, including Bristol Myers Squibb’s ( BMY ) Abecma and Breyanzi, Legend Biotech’s ( LEGN ) / Johnson & […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
