Astellas, Poseida Announce Investment To Support Poseida's Commitment To Cancer Cell Therapy

RTTNews | 695 days ago
Stocktwits
Astellas, Poseida Announce Investment To Support Poseida's Commitment To Cancer Cell Therapy

(RTTNews) - Pharmaceutical companies Astellas Pharma Inc. (ALPMY.PK) and Poseida Therapeutics, Inc. (PSTX) announced Monday a strategic investment to support the advancement of Poseida's commitment to redefining cancer cell therapy.

Under the terms of the transaction agreements, Astellas will invest a total of $50 million, including $25 million to acquire 8.3 million shares of common stock of Poseida or approximately 8.8% of the outstanding common stock of Poseida, at $3.00 per share in a private placement.

It will also make a one-time $25 million payment for a right of exclusive negotiation and first refusal to license one of Poseida's clinical stage programs: P-MUC1C-ALLO1, an allogeneic CAR-T cell therapy in development for multiple solid tumor indications.

In addition, Poseida has granted Astellas a board observer seat, which includes the ability to attend Poseida's scientific advisory board meetings, and certain notice rights related to any potential change of control of Poseida.

Tags: ALPMY PSTX
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Astellas Pharma Gets Positive CHMP Opinion For XTANDI In Early Prostate Cancer Treatment Setting

Astellas Pharma Gets Positive CHMP Opinion For XTANDI In Early Prostate Cancer Treatment Setting

Astellas Pharma Inc. announced Friday the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending approval of XTANDI (enzalutamide) as monotherapy or in combination with androgen deprivation therapy for the treatment of adult men with high risk biochemical recurrent (BCR) non-metastatic hormone sensitive prostate cancer (nmHSPC) who are unsuitable for salvage radiotherapy.
RTTNews | 467 days ago
Paramount To Pay $16 Mln To Settle Lawsuit By Trump Over Interview With Kamala Harris

Paramount To Pay $16 Mln To Settle Lawsuit By Trump Over Interview With Kamala Harris

Media firm Paramount Global has agreed to pay $16 million to settle a legal dispute with U.S. President Donald Trump, over its '60 Minutes' interview with former Vice President Kamala Harris, reports said. The interview was broadcast on Paramount's affiliated CBS network last year, ahead of the 2024 Presidential election.
RTTNews | 2h 14min ago
Bay Street Likely To Open With Positive Bias

Bay Street Likely To Open With Positive Bias

Canadian shares look set to open with a positive bias on Wednesday, tracking steady European markets and higher crude oil prices. Optimism about Canada and the U.S. striking a trade deal is likely to help underpin sentiment.
RTTNews | 3h 42min ago
Yen Falls Amid Risk-on Mood

Yen Falls Amid Risk-on Mood

The Japanese yen weakened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors pondered the prospect of Federal Reserve rate cuts and hoped for a positive resolution on trade discussions ahead of completion of 90-day tariff pause on July 9.
RTTNews | 4h 19min ago
FTSE 100 Up Marginally In Cautious Trade

FTSE 100 Up Marginally In Cautious Trade

The U.K. market is up marginally a little past noon on Wednesday with stock moving in a tight range as investors await fresh developments on the trade front.
RTTNews | 4h 33min ago
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the European session on Wednesday.
RTTNews | 4h 48min ago
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