Poseida Shares Rally As Roche Takes Next Big Step Into Allogeneic CAR-T Field

• Poseida Therapeutics Inc (NASDAQ: PSTX) has entered into a strategic collaboration and license agreement with Roche Holdings AG (OTC: RHHBY), focused on developing allogeneic CAR-T therapies directed to hematologic malignancies.

• The collaboration covers the research and development of multiple existing and novel "off-the-shelf" cell therapies against targets in multiple myeloma, B-cell lymphomas, and other hematologic indications.

• Under the agreement, Roche will receive from Poseida either exclusive rights or options to develop and commercialize several allogeneic CAR-T programs in Poseida's portfolio.

• Poseida's P-BCMA-ALLO1, an allogeneic CAR-T for multiple myeloma, is in Phase 1 study, and P-CD19CD20-ALLO1, an allogeneic dual CAR-T for B-cell malignancies with an IND, expected in 2023.

• For a subset of the Poseida portfolio programs licensed or optioned to Roche, Poseida will conduct the Phase 1 studies and manufacture clinical materials before transitioning the programs to Roche for further development and commercialization.

• Roche will be solely responsible for the late-stage clinical development and global commercialization.

• Poseida will receive $110 million upfront and could receive up to $110 million in near-term milestones.

• In addition, Poseida is eligible to receive up to $6 billion in milestone payments.

• Price Action: PSTX shares are up 60.10% at $3.89 during the premarket session on the last check Wednesday.

See more from Benzinga

• Regeneron's Price Target Cut On Dim Prospects For Its Flagship Eye Product

• Daily Biotech Pulse: Liver Disease-Focused Gene Therapy Pact, Assembly Bio Stops HBV Infection Trial, X4 Pharma Looks For Partners

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.