Roche, the Swiss healthcare giant, announced Tuesday that it will acquire U.S.-based genetic engineering company Poseida Therapeutics in a deal valued at up to $1.5 billion. The acquisition aims to strengthen Roche’s portfolio of therapies for blood cancers and other critical diseases.
Roche, through its subsidiary Genentech, has agreed to a tender offer to purchase Poseida for $9 per share, amounting to $1 billion. An additional $500 million could be paid if Poseida achieves specific clinical development and commercial milestones, potentially elevating the per-share price by up to $4.
Roche to acquire Poseida Therapeutics :Deal Terms and Anticipated Closing
The transaction is expected to close by the first quarter of 2025, pending regulatory approval under the U.S. Hart-Scott-Rodino Antitrust Improvements Act. Finalization also requires Roche to secure a majority of Poseida’s outstanding shares.
Sidley Austin LLP is providing legal counsel to Roche, with a team led by mergers and acquisitions partners Sharon Flanagan, John Butler, and Sally Wagner Partin. Citi is serving as Roche’s financial adviser.
