Poseida's sea change

Why Poseida decided to wait on an IPO in favor of a Novartis-led megaround

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 CEO Eric Ostertag told BioCentury that Poseida has withdrawn its prospectus, but still may opt to refile for an IPO within a year.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

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