Poseida has reached an agreement with Roche for a $1.5 billion acquisition, following a series of negotiations that began with Roche's initial disinterest in 2023. The deal includes $9 per share in cash and up to $4 per share tied to milestone achievements, establishing Roche's capability in off-the-shelf cell therapies. This acquisition builds on a partnership that started in 2022, which has evolved through various proposals and collaborations over the years.
Roche's decision to acquire Poseida Therapeutics for $1 billion upfront came after initial reluctance, as filings reveal that partner Astellas did not submit an offer. Prior to Roche's announcement, another undisclosed pharmaceutical company had expressed interest in Poseida's cell therapy assets.
Novartis has entered a $150 million deal with Monte Rosa Therapeutics to develop molecular glue degraders targeting the immune signaling protein VAV1, which is considered "undruggable." The partnership could yield up to $2.1 billion in additional payments based on development milestones. Monte Rosa will complete the ongoing Phase 1 study of MRT-6160, while Novartis will manage further development, with both companies sharing profits and losses from commercialization.
Upstream Bio has priced its IPO at $255 million, selling 15 million shares at $17 each, to fund the development of its antibody drug targeting respiratory diseases. The company aims to challenge existing asthma treatments, with plans to report Phase 2 results for its drug, verekitug, in 2025. This IPO reflects a growing investor interest in immunology-focused biotech firms, with a notable increase in offerings this year.
David Baker, Demis Hassabis, and John Jumper have won the Nobel Prize in Chemistry for their groundbreaking work in computational protein design and structure prediction, significantly advancing drug design capabilities. Alnylam Pharmaceuticals seeks FDA approval for vutrisiran to treat a severe form of transthyretin amyloidosis, while Johnson & Johnson halts a bladder cancer trial for TAR-200. AstraZeneca invests in a preclinical cholesterol-lowering drug, and Astellas acquires rights to an experimental gene therapy for frontotemporal dementia.
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