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Tuesday, Jul 23, 2024
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Poseida Therapeutics Files for $115M IPO

Poseida Therapeutics on Jan. 4 filed preliminary paperwork for an initial public offering, seeking to raise $115 million.

The company claims to put a unique stamp on CAR-T therapy, in which a patients T cells are altered to kill cancer cells. Early-generation CAR-T therapy has limitations, including safety concerns, and in response, Poseida inserted a non-viral DNA modification system, according to filing paperwork.

Poseida’s lead candidate, P-BCMA-101, is designed to treat patients with relapsed multiple myeloma.

Eric Ostertag is the CEO of San Diego-based Poseida, which arose through a corporate reorganization of Transposagen Biopharmaceuticals. Ostertag had helmed Transposagen.

As of Sept. 30, the company reported an accumulated deficit of $52.8 million. It applied to list on the Nasdaq under the symbol “PSTX.”

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