ARTICLE | Finance
Poseida's sea change
Why Poseida decided to wait on an IPO in favor of a Novartis-led megaround
April 22, 2019 4:51 PM UTC
Rather than execute the IPO it proposed in January, Poseida has instead raised a $142 million series C round that includes a $75 million contribution from Novartis. CEO Eric Ostertag told BioCentury that Poseida has withdrawn its prospectus, but still may opt to refile for an IPO within a year.
The lead program from Poseida Therapeutics Inc. (San Diego, Calif.), P-BCMA-101, is an autologous CAR T therapy targeting BCMA. A pivotal Phase II trial of the therapy is enrolling patients with relapsed or refractory multiple myeloma; dosing is to start this half...