Novartis-backed CAR-T developer raises $142M in series C

April 22, 2019

Poseida Therapeutics, a clinical-stage biopharma leveraging proprietary non-viral gene engineering technologies, announced closing of a Series C financing round, raising $142 million — led by a $75 million equity investment from Novartis.

Novartis was joined by several other new investors, including Aisling Capital Management, Pentwater Capital Management, Perceptive Advisors, as well as additional undisclosed institutional investors.

Poseida is currently developing CAR-T product candidates for multiple myeloma and preclinical programs for castrate-resistant prostate cancer and other solid-tumor indications. CAR-T product candidates are manufactured with the San Diego-based biopharrma's non-viral piggyBac DNA Modification System, resulting in a high percentage of stem cell memory T cells (TSCM). TSCM cells are the only T cell that is self-renewing and long-lived, potentially resulting in product candidates that are more efficacious, less toxic and more durable.

Read the press release.