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Swiss pharmaceutical big Roche stated on Tuesday it agreed to purchase US biopharma agency Poseida Therapeutics for $1.5 billion (1.4 billion euros)—however Roche shares dipped over a disappointing examine on a key lung most cancers remedy.
Roche, the world’s number-one oncology group, will supply Poseida shareholders $9.0 per share and add an extra $4.0 per share by means of a non-tradeable certificates to amass the San Diego, California-based firm.
The deal, designed to place Roche on the forefront of donor-derived off-the-shelf cell therapies, is because of shut in early 2025.
“This price does not seem excessive,” Marcel Model, analyst at Zurich Kantonalbank, commented.
The boards of administrators of each corporations unanimously permitted the deal for Poseida, whose shares had closed on Monday at $2.73.
Poseida Therapeutics’ portfolio notably contains custom-made cell therapies for hematological cancers, strong tumors and auto-immune illnesses.
The US agency gives “chimeric antigen receptor” (CAR-T) progressive therapies, involving taking cells from a affected person’s immune system and genetically modifying them as a way to combat illnesses.
Roche famous the acquisition builds on an present partnership between the 2 corporations following a 2022 collaboration and license settlement.
Roche shares in the meantime had been down nearly 1.5 % mid-session because it emerged {that a} section III examine of an immunotherapy remedy confirmed it had failed to enhance survival charges past that of Roche’s personal present medication for superior lung most cancers, Tecentriq.
In an announcement, Roche stated a mixture of the drug, tiragolumab, with Tecentriq examined on 534 sufferers, had not introduced an improved efficiency over Tecentriq by itself.
“Expectations for tiragolumab had already declined sharply,” stated Model, noting that Roche had already suffered a setback in July for treating lung most cancers utilizing the drug mixture with chemotherapy.
The examine outcomes are to be formally introduced subsequent yr.
© 2024 AFP
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Roche in $1.5 bn deal to purchase Poseida Therapeutics (2024, November 26)
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