Astellas makes strategic investment in Poseida
Japanese drug major Astellas Pharma (TYO: 4503) has announced a strategic investment to support the advancement of Poseida Therapeutics’ (Nasdaq: PSTX) commitment to redefining cancer cell therapy. The news pushed Poseida’s shares up as much as 24% to $2.69.
The investment is comprised of the purchase of 8,333,333 shares of common stock at $3.00 per share for an aggregate purchase price of $25 million and an additional $25 million one-time payment for certain strategic rights, and provided a business update.
The news comes at a useful time for Poseida, which just last month saw its former partner Takeda (TYO: 4502) return rights to the firm’s hemophilia A and PKU gene therapy programs, which it gained from a collaboration and license agreement in October 2021 that was worth a potential $3.6 billion to Poseida.
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