Astellas, Poseida Announce Investment To Support Poseida's Commitment To Cancer Cell Therapy
(RTTNews) - Pharmaceutical companies Astellas Pharma Inc. (ALPMY.PK) and Poseida Therapeutics, Inc. (PSTX) announced Monday a strategic investment to support the advancement of Poseida's commitment to redefining cancer cell therapy.
Under the terms of the transaction agreements, Astellas will invest a total of $50 million, including $25 million to acquire 8.3 million shares of common stock of Poseida or approximately 8.8% of the outstanding common stock of Poseida, at $3.00 per share in a private placement.
It will also make a one-time $25 million payment for a right of exclusive negotiation and first refusal to license one of Poseida's clinical stage programs: P-MUC1C-ALLO1, an allogeneic CAR-T cell therapy in development for multiple solid tumor indications.
In addition, Poseida has granted Astellas a board observer seat, which includes the ability to attend Poseida's scientific advisory board meetings, and certain notice rights related to any potential change of control of Poseida.
Astellas Pharma Gets Positive CHMP Opinion For XTANDI In Early Prostate Cancer Treatment Setting
Merck Says Phase 3 KEYNOTE-A39/EV-302 Trial Meets Dual Primary Endpoints
TSX Ends Modestly Lower
Dollar Turns In Mixed Performance Against Major Counterparts
U.S. Stocks Close Notably Lower; Nasdaq Sheds 1.5 Percent
U.S. Stocks Down Firmly In Negative Territory; Nasdaq Tumbled 1.7 Percent
Swiss Market Ends On Firm Note
