Awaiting IPO, Poseida Therapeutics nips in a quick $110M series D


Last week, CAR-T biotech Poseida Therapeutics said it was gunning for another IPO attempt a year after ditching it in favor of a new funding round led by Novartis.

This time, the IPO is still going ahead, but, in the middle of it, the company has announced a new $110 million funding round ahead of its $115 million public offering attempt.

Novartis didn’t appear on its statement this time, with the financing led by funds advised by Fidelity Management Research Company with help from Adage Capital Management and Schonfeld Strategic Advisors. “A number of current investors also participated in the financing,” the biotech added in its brief update.

Free Webinar

From Patient Adherence to Manufacturing Ease - Why Softgels Make Sense for Rx

Join Thermo Fisher Scientific’s upcoming webinar to learn why softgels offer numerous benefits for Rx drug development, including enhanced bioavailability, patient compliance and easy scale-up. Register Today.

In April last year, the cell therapy player put the kibosh on original its IPO plans, settling instead for a $142 million series C round with more than half of the money coming from cell and gene therapy devotee Novartis.

The Big Pharma put up a $75 million equity investment in the San Diego-based company, which has a stable of CAR-T candidates manufactured through a nonviral process.

The expected IPO cash and its series D is earmarked for Poseida's leading candidate P-BCMA-101, an autologous CAR-T currently in a potentially registrational phase 2 trial for multiple myeloma.

“This financing supports the approach we are taking to leverage our broad proprietary gene engineering platform technologies, including the piggyBac DNA Modification System and Cas-CLOVER site-specific gene editing system, for the creation of numerous differentiated cell and gene therapy product candidates,” said Eric Ostertag, M.D., Ph.D., CEO at Poseida.

Suggested Articles

Biotech IPOs are up over 40% year-to-date, but today’s markets have rewritten the rules for going public. Find out the new best practices for IPOs.

Baxter has received clearance from the FDA for the latest version of its automated peritoneal dialysis system designed for home use.

ATAI Life Sciences is topping off a busy year with a $125 million financing, which will push two programs through phase 2 readouts.