Venture Capital: Gene Engineering Platform Poseida Therapeutics Raises $110M in Series D Round

June 26, 2020 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2020/06/dna-3656587_640.jpg

Poseida filed for an IPO worth $115 million on June 19.

Within a few days of filing an S-1 registration statement to raise $115 million via an IPO of its common stock, Poseida Therapeutics has switched tracks and opted to raise $110 million in a Series D round. Fidelity Management and Research Co. led the round with participation from Adage Capital Management and Schonfeld Strategic Advisors. Several unnamed existing investors also participated. (Crunchbase)

Poseida had filed to go public previously in January 2019. However, it withdrew the IPO after raising $142 million in a Series C round. That round, in April 2019, was led by Novartis (SWX: NOVN).

Dublin-listed life-sciences investment group Malin did not participate in this round. Malin Life Sciences acquired a 33% stake in Poseida in 2015 in a deal valued at $30 million.

The gene therapy company’s aggregate fundraise to date is $336.5 million.

Cancer therapies

San Diego based Poseida is developing a portfolio of genetic and CAR-T-based therapies for blood, solid, and other cancers.

“This financing supports the approach we are taking to leverage our broad proprietary gene engineering platform technologies, including the piggyBac DNA Modification System and Cas-CLOVER site-specific gene-editing system, for the creation of numerous differentiated cell and gene therapy product candidates,” Poseida’s CEO Eric Ostertag, M.D., Ph.D., said in a written statement.

Currently, Poseida’s P-BCMA-101, a CAR-T treatment for patients with multiple myeloma, is in Phase 2 clinical trials. All other drug candidates are in preclinical stages.

Proceeds from the financing will primarily fund the company’s ongoing clinical trials, and also be used for further research and development.

Related Story:   Daphne Koller Raises $143M For Insitro, Her AI-Bio Startup                                                

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/06/Thumbtack-screengrab.jpg
Venture Capital: Home Management Platform Thumbtack Raises $275M
June 16, 2021     News, Venture Capital

Home management platform Thumbtack enables its millions of customers to find and hire small businesses and local professionals for virtually any home-related task. It announced Tuesday that, “on the heels…

https://dailyalts.com/wp-content/uploads/2021/06/188m-Series-C-funding.jpg
FinTech: 10X, The Fintech Founded By Ex-Barclays Chief Antony Jenkins, Rakes In $187M To Scale Massively
June 16, 2021     FinTech, News, Venture Capital

Founded in 2016 by Antony Jenkins, former CEO of Barclays (LON: BARC), fintech 10X Future Technologies has raised $187 million from a clutch of bulge bracket investors. The firm’s oversubscribed…

https://dailyalts.com/wp-content/uploads/2021/06/news-cover-1-1000x550-1.jpg
Artificial Intelligence: LVMH Ties With Google Cloud For AI-Powered Experiences At Maisons Luxury Brands
June 16, 2021     Artificial Intelligence, Latest News, News

LVMH (EPA: MC) announced today its tie-up with Google (NASDAQ: GOOGL) Cloud for the development of cloud-based AI solutions. LVMH and Google Cloud will work together and deploy the latter’s…

https://dailyalts.com/wp-content/uploads/2021/06/screen-1094936_640.png
Alternative Investments: HSBC Consolidates Alternatives Units Into “HSBC Alternatives”
June 16, 2021     Alternative Investments, News

HSBC (NYSE: HSBC) has created HSBC Alternatives, an umbrella unit to house its disparate alternatives assets. It will be formed from multi-manager Hedge Fund and Private Market teams, as well…