Poseida Therapeutics Raises $110M To Advance Gene Therapeutics

A year after closing its largest raise to date, biopharmaceutical company Poseida Therapeutics Inc. announced the closing of a $110 million Series D financing round.

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Fidelity Management and Research Co. led the round with participation from Adage Capital Management and Schonfeld Strategic Advisors, as well as a number of unnamed existing investors, the company said in a written statement. The new funding brings the company to more than $300 million in total funding since its inception in 2014. Poseida raised its largest funding ever in April 2019, a $142 million Series C round led by Novartis, according to Crunchbase data.

San Diego-based Poseida is developing a proprietary gene engineering platform technology to create cell and gene therapeutics for multiple myeloma, prostate and other cancer types, as well as liver-directed gene therapies for orphan genetic diseases.

“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.

The funding news comes nearly a week after the company filed with the U.S. Securities and Exchange Commission for an initial public offering to raise up to $115 million. The company plans to list on the Nasdaq under the symbol PSTX. Poseida previously filed to go public in January 2019, but withdrew three months later following the Series C round.

Illustration: Li-Anne Dias