Poseida skyrockets as it partners with Roche on allo CAR-T cell therapies

Shares of San Diego, USA-based biotech Poseida Therapeutics (Nasdaq: PSTX) were up almost 98% at $4.80 late morning, after it announced it has entered into a broad strategic collaboration and license agreement with Swiss pharm giant Roche (ROG: SIX), focused on developing allogeneic CAR-T therapies directed to hematologic malignancies.

The global collaboration covers the research and development of multiple existing and novel “off-the-shelf” cell therapies against targets in multiple myeloma, B-cell lymphomas and other hematologic indications.

“We are excited to partner and collaborate with Roche, one of the world’s largest biotechnology companies, which has a successful track record in the discovery, development and commercialization of innovative medicines,” said Mark Gergen, chief executive of Poseida, adding: “Roche is an ideal strategic partner for Poseida with its industry-leading R&D capabilities in oncology, complementary technologies and expertise, and global regulatory and commercial capabilities. Working together, we look forward to advancing novel allogeneic cell therapies based upon Poseida’s technologies for patients battling cancer.”