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- Poseida Therapeutics
Poseida Therapeutics Acquisition, Valuation, Funding & Investors
Poseida Therapeutics was acquired by Roche for $1B in November 2024, a 6.6x multiple on $151M of revenue.
Poseida Therapeutics revenue at acquisition
$151M
Last twelve months · Nov 2024
Poseida Therapeutics revenue multiple at acquisition
6.6x
EV/Revenue · Nov 2024
Cumulative funding Poseida Therapeutics raised
$317M
across 5 funding rounds
About Poseida Therapeutics
Poseida Therapeutics is a San Diego-headquartered clinical-stage biopharmaceutical company focused on engineered CAR-T therapies. It develops allogeneic and autologous T-cell products targeting hematologic cancers like multiple myeloma and solid tumors such as ovarian cancer. The pipeline includes P-BCMA-ALLO1 in Phase 1 trials and PT596 for broader oncology applications, leveraging proprietary CRISPR-based genome editing and non-viral DNA delivery. Poseida collaborates with Roche and Takeda on manufacturing and commercialization.
Founded
2014
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Revenue
$151M (Nov 2024)
Valuation
$97M (Dec 2015)
Sectors
Poseida Therapeutics Acquisition
Poseida Therapeutics was acquired by Roche for $1B on 26 November 2024.
The acquisition price implies a 6.6x revenue multiple on $151M of revenue.
Before the acquisition Poseida Therapeutics had raised $317M across 5 funding rounds.
Poseida Therapeutics, a San Diego-based clinical-stage biopharmaceutical company, develops donor-derived allogeneic CAR-T cell therapies and genetic medicines for oncology, hematologic malignancies, solid tumors, autoimmune diseases, and rare diseases, leveraging non-viral gene editing platforms and GMP manufacturing capabilities. Key assets include P-BCMA-ALLO1 for multiple myeloma, P-CD19CD20-ALLO1 for B-cell malignancies and autoimmune diseases, and CD70-directed therapy for acute myeloid leukemia. Roche, a Swiss pharmaceutical giant, entered a definitive merger agreement on November 26, 2024, to acquire Poseida for $9.00 per share in cash upfront, representing approximately $1.0 billion equity value and a 215% premium to Poseida’s November 25 closing price, plus a non-tradeable contingent value right (CVR) for up to $4.00 per share upon milestone achievements, for a total potential value of $1.5 billion. The tender offer commenced promptly, with Roche accepting nearly 65 million shares (66% of Poseida) by early 2025, and the deal expected to close in Q1 2025 pending regulatory, antitrust clearances, and customary conditions; a second-step merger will follow to acquire remaining shares at the same price. This acquisition builds on Roche’s 2022 collaboration and license agreement with Poseida, which included $110 million upfront and up to $6 billion in milestones for off-the-shelf CAR-T therapies in blood cancers, establishing a new core capability in allogeneic cell therapies to deliver first/best-in-class treatments across oncology, immunology, and neurology with improved potency, safety, scalability, and broader patient access. Roche’s Chief Medical Officer Levi Garraway highlighted encouragement from early clinical data, positioning Roche to advance Poseida’s pipeline, platform technologies, and employees within its Pharmaceuticals Division amid competitive dynamics in off-the-shelf CAR-T to democratize access versus autologous therapies.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 26 Nov 2024 | Strategic M&A | $1B | 6.6x |
Poseida Therapeutics Valuation
Poseida Therapeutics is currently valued at $97M, based on its Series A in December 2015.
The $23M round was led by Malin Corporation, with participation from Eric Ostertag.
Poseida Therapeutics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2015 | Series A | $97M |
Poseida Therapeutics Funding History
Poseida Therapeutics has raised a total of $317M across 5 funding rounds.
Poseida Therapeutics' first fundraising round was a $23M Series A in December 2015. The most recent completed round was a $110M Series D in June 2020.
Poseida Therapeutics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2020 | Series D | Fidelity (lead); Schonfeld Strategic Advisors; Adage Capital Management | $110M | - | Poseida Therapeutics, a clinical-stage biopharmaceutical company based in San Diego, develops next-generation cell and gene therapeutics using proprietary gene engineering platforms including the piggyBac DNA Modification System, Cas-CLOVER site-specific gene editing, and nanoparticle- and AAV-based delivery technologies. The company focuses on allogeneic and autologous CAR-T therapies for hematological and solid tumor oncology, as well as liver-directed gene therapies for orphan genetic diseases. On June 25, 2020, Poseida closed a $110 million Series D financing round led by funds advised by Fidelity Management Research Company, LLC, with participation from Adage Capital Management, Schonfeld Strategic Advisors, and existing investors. BofA Securities served as the sole placement agent. Net proceeds were $104.1 million. This followed a $142 million Series C in April 2019 led by Novartis, bringing total funding since 2014 to over $300 million. The financing supported advancement of Poseida's broad portfolio of product candidates leveraging its platforms to address limitations in current cell and gene therapies. As of June 30, 2020, the company reported cash, cash equivalents, and short-term investments of $167.1 million. Shortly after, Poseida completed an IPO in July 2020 raising net proceeds of $204.8 million (or $205.7 million per another report), listing on Nasdaq as PSTX. Financial statements for Q2 2020 showed research and development expenses of $25.2 million for the quarter and $48.6 million for the half-year, with general and administrative expenses of $4.2 million and $9.1 million respectively. Balance sheet as of June 30, 2020 included total assets of $226.4 million, liabilities of $105.3 million, and convertible preferred stock of $326.3 million. |
| Apr 2019 | Series C | Novartis (lead); Rapha Capital Management; Boxer Capital; Pentwater Capital Management; Vivo Capital; Longitude Capital; Malin Corporation; Aisling Capital; Perceptive Advisors | $142M | - | Poseida Therapeutics, a San Diego-based clinical-stage biopharmaceutical company, develops proprietary non-viral gene engineering technologies, including the piggyBac DNA Modification System and Cas-CLOVER site-specific gene editing, to create cell and gene therapeutics primarily focused on CAR-T therapies for cancers like multiple myeloma and prostate cancer, as well as orphan genetic diseases. On April 22, 2019, the company closed a $142 million Series C financing round led by Novartis with a $75 million equity investment, joined by new investors Aisling Capital Management, Pentwater Capital Management, Perceptive Advisors, Rapha Capital Management (investing $2.25 million), and undisclosed institutions, with participation from existing investors Malin Corporation, Longitude Capital, Vivo Capital, and Boxer Capital. The funding supported advancement of Poseida's CAR-T pipeline, including P-BCMA-101, an autologous therapy for relapsed/refractory multiple myeloma in a Phase 2 registrational trial with initial dosing in H1 2019; P-PSMA-101 for castrate-resistant prostate cancer with IND filing planned for H2 2019; P-MUC1C-101 for solid tumors like ovarian, breast, lung, colorectal, pancreatic, and renal cancers with IND in 2020; and emerging off-the-shelf and gene therapy programs. This round followed an abandoned IPO filing in January 2019, allowing Poseida to forgo public markets and accelerate development toward single-treatment cures in oncology and genetic diseases. The investment aligned with Novartis's strategy to lead in next-generation cell and gene therapies post-J.P. Morgan Conference announcements. Poseida later raised a $110 million Series D in 2020 led by Fidelity and filed for IPO (PSTX), bringing total funding over $300 million since 2014 inception. |
| Apr 2018 | Series B | Longitude Capital (lead); Vivo Capital; Tavistock Life Sciences; Malin Corporation | $31M | - | Poseida Therapeutics, a San Diego-based biotechnology company founded in 2015, specializes in gene editing and cell therapy development. The company focuses on translating proprietary genome engineering technologies into lifesaving cell therapies, with particular emphasis on autologous and allogeneic Chimeric Antigen Receptor T-cell (CAR-T) immunotherapies for cancer treatment and gene therapies for orphan liver diseases. The company also maintains a strategic alliance with Janssen Biotech to develop allogeneic CAR-T therapies. In April 2018, Poseida raised $30.5 million in an oversubscribed Series B financing round led by Longitude Capital, with additional investors including Vivo Capital and the Tavistock Group, alongside existing investor Malin Corporation plc. The proceeds were designated to advance the pipeline of autologous and allogeneic CAR-T immunotherapies and gene therapy programs. David Hirsch, M.D., Ph.D., managing director at Longitude Capital, joined Poseida's Board of Directors in conjunction with the financing. Prior to this round, Poseida had raised $30 million in Series A financing led by Malin Corporation in December 2015, bringing cumulative funding to $84.5 million by April 2018. |
| Aug 2017 | Series A | Malin Corporation (lead); Eric Ostertag | $11M | - | Poseida Therapeutics was a clinical-stage biopharmaceutical company developing genome editing technologies and targeted therapeutics. The company received backing from Malin Corporation, an Irish life sciences investment firm, in multiple tranches during 2016-2017. Malin's investment in Poseida grew to €31.5 million cumulatively with 37% equity ownership as of December 2017. As a pre-revenue clinical-stage company, Poseida had not yet commercialized products or generated operating revenue. The company advanced its lead program, P-BCMA-101, a CAR-T stem cell memory therapy for multiple myeloma, into Phase 1 clinical trials in 2017 and received a $19.8 million grant from the California Institute for Regenerative Medicine to support clinical development. Poseida was later acquired by Roche Holding AG in January 2025 for approximately $1.5 billion, delivering significant returns to Malin and validating the therapeutic platform. |
| Dec 2015 | Series A | Malin Corporation (lead); Eric Ostertag | $23M | $97M | Poseida Therapeutics, a US-based privately-held biotech company founded in late 2014, specializes in novel therapies using proprietary genome engineering technologies including the PiggyBac DNA Modification System, XTN TALEN, NextGEN CRISPR site-specific nucleases, and Footprint-Free Gene Editing. The company focuses on gene therapies for orphan liver diseases and cancer treatments, particularly unique CAR-T therapeutics and first-in-class gene therapy products aimed at curing patients with a single treatment. Poseida announced its Series A Preferred Stock financing on December 16, 2015, with lead investor Malin Corporation plc committing up to $30 million for approximately 31% stake, comprising an initial $20 million investment completed on December 15, 2015, and a potential further $10 million in 2016. Malin Corporation, an Irish-based global life sciences investor, viewed Poseida as a best-in-class asset in gene therapy, immuno-oncology, and gene editing with broad therapeutic applications. The investment accelerated Poseida's therapeutics pipeline targeting significant unmet medical needs. Malin CEO Kelly Martin and Chief Investment Officer Adrian Howd joined Poseida's board, alongside CEO Eric Ostertag. This round followed Malin's strategy of deploying capital into high-potential life sciences assets, with €31.1 million (~$34 million) invested in Poseida as noted in Malin's 2015 annual report. Malin later held significant ownership, with approximately 12.1% of shares as of November 2024 during Roche's acquisition process. |
Who has invested in Poseida Therapeutics?
14 investors have backed Poseida Therapeutics across its funding rounds, including Malin Corporation, Vivo Capital, Longitude Capital, Eric Ostertag, Fidelity and Perceptive Advisors.
Lead investors include Fidelity, Novartis, Longitude Capital and Malin Corporation.
Poseida Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Dec 2015 | ||
| 2 | Participant | Apr 2018 | ||
| 2 | Participant | Dec 2015 | ||
| 2 | Lead | Apr 2018 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Lead | Jun 2020 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Participant | Apr 2019 | ||
| 1 | Lead | Apr 2019 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Participant | Apr 2018 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPoseida Therapeutics Competitors
Poseida Therapeutics competitors include listed companies like Arbutus Biopharma and Kolon TissueGene, and private ones like BenevolentAI, Immunai, IntraBio and Orca Bio.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $10M | - | $1B | 100.0x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $14M | ($37M) | $1B | 6.8x | ||
| Publicly listed | $4M | ($141M) | $1B | 239.4x |
Poseida Therapeutics Public Comps
Poseida Therapeutics is no longer listed, but its public comps include Arbutus Biopharma, Kolon TissueGene, Star Lake Bioscience, SSY Group, Helus Pharma, Alumis, GuangYuYuan Chinese, Vetoquinol, Amphastar Pharma and Adlai Nortye.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $14M | ($37M) | 64.6x | 6.8x | (24.6x) | - | |||
| $4M | ($141M) | 261.1x | 239.4x | (7.0x) | (57.8x) | |||
| $2.4B | $314M | 0.8x | 0.8x | 6.0x | 7.3x | |||
| $530M | $144M | 2.5x | - | 9.2x | - | |||
| - | ($153M) | - | - | (5.4x) | (4.8x) | |||
| $24M | ($263M) | 22.6x | 47.6x | (2.1x) | (1.5x) | |||
| $204M | $23M | 4.5x | - | 40.5x | - | |||
| $605M | $127M | 1.3x | 1.3x | 5.9x | 5.9x | |||
This data is available for Pro users. Sign up to see all Poseida Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Poseida Therapeutics
| When was Poseida Therapeutics founded? | Poseida Therapeutics was founded in 2014. |
| Where is Poseida Therapeutics headquartered? | Poseida Therapeutics is headquartered in San Diego, CA, United States. |
| Is Poseida Therapeutics publicly listed? | No, Poseida Therapeutics was acquired by Roche in November 2024. |
| Who acquired Poseida Therapeutics? | Poseida Therapeutics was acquired by Roche in November 2024. |
| How much was Poseida Therapeutics acquired for? | Poseida Therapeutics was acquired for $1B in November 2024, a 6.6x revenue multiple. |
| What is Poseida Therapeutics' valuation? | Poseida Therapeutics was last valued at $97M in its Series A in December 2015. |
| How much funding has Poseida Therapeutics raised? | Poseida Therapeutics has raised $317M across 5 funding rounds. |
| What was Poseida Therapeutics' last funding round? | Poseida Therapeutics' last funding round was a $110M Series D in June 2020, led by Fidelity. |
| Who are Poseida Therapeutics' investors? | Poseida Therapeutics' investors include Malin Corporation, Vivo Capital, Eric Ostertag, Longitude Capital, Rapha Capital Management, Boxer Capital, Fidelity, Schonfeld Strategic Advisors, Pentwater Capital Management, Novartis and 4 others. |
| Which companies are comparable to Poseida Therapeutics? | Companies comparable to Poseida Therapeutics include BenevolentAI, Immunai, IntraBio, Orca Bio, Arbutus Biopharma and Kolon TissueGene. |
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