Roche announced on Wednesday that it plans to complete the acquisition of the USA biopharmaceutical company Poseida Therapeutics.
According to the Zhitong Finance APP, Roche (RHHBY.US) announced on Wednesday that it plans to complete the acquisition of the USA biotechnology company Poseida Therapeutics (PSTX.US). It is understood that Poseida focuses on developing complex immune cell therapies for various types of cancer.
Roche stated that it has agreed to pay Poseida nearly 65 million shares, equivalent to 66% of the company's Stocks, with shareholders bidding at a price of $9 per share, and an additional payment of up to $4 per share in contingent payments.
Considering this factor, the value of the Trade will be up to approximately $1.5 billion.
This acquisition, announced last November, is Roche's latest effort to expand its research and development pipeline to compensate for declining sales of cancer drugs.
Roche stated on Wednesday: "Later today, Roche intends to complete the acquisition of Poseida... no need for voting or holding a Poseida shareholder meeting."
Roche said that in the acquisition, all Poseida shares not owned by Poseida or Roche will convert to the right to receive the same consideration per share.
Poseida will become a wholly-owned subsidiary of Roche, adding what is known as allogeneic CAR-T cell therapy, which uses transgenic immune cells to target cancer cells or treat autoimmune diseases.
Poseida is also committed to CAR-T projects targeting solid tumors and autoimmune diseases.