Allogeneic, TSCM-rich dual CAR-T
for the treatment of hematologic malignancies, including multiple
myeloma
Nomination triggers $15
million milestone payment to Poseida, extending cash runway
into early 2026
Poseida Cell Therapy R&D Day to take place
on Thursday, November 14 at
7 am PT / 10
am ET
SAN
DIEGO, Oct. 17, 2024 /PRNewswire/ -- Poseida
Therapeutics, Inc. (Nasdaq: PSTX), a clinical-stage allogeneic cell
therapy and genetic medicines company advancing differentiated
non-viral treatments for patients with cancer, autoimmune, and rare
diseases, today announced the nomination of a new development
candidate under its collaboration with Roche. The nomination
triggered a $15 million milestone
payment from Roche to Poseida.
The new candidate is an allogeneic, dual CAR-T therapy targeting
known antigens expressed in hematologic malignancies, including
multiple myeloma. The large capacity of Poseida's non-viral
transposon-based DNA delivery system enables the insertion of genes
for two full length chimeric antigen receptors (CARs) into T stem
cell memory cells (TSCM).
"The nomination of a new development candidate builds on our
collaboration with Roche and highlights the unique potential of our
proprietary non-viral genetic engineering toolkit to create
differentiated, TSCM-rich allogeneic CAR-T therapies
targeting one or more antigens," said Kristin Yarema, Ph.D., president and chief
executive officer of Poseida Therapeutics. "Multiple myeloma
is a common and incurable blood cancer with significant room for
potent, safe and accessible novel agents to expand use across lines
of therapy and sites of care. With compelling preclinical data
supporting the target combination of this dual CAR-T, we look
forward to advancing this program towards the clinic as a part of
the collaboration. We also look forward to providing updates on our
CAR-T programs and earlier-stage pipeline at Poseida's upcoming
Cell Therapy R&D Day."
Poseida and Roche now have three programs under their
collaboration, which was established in August 2022 to develop allogeneic CAR-T therapies
directed to hematologic malignancies. The lead collaboration
program, P-BCMA-ALLO1, is an allogeneic CAR-T therapy targeting
BCMA that has received Regenerative Medicine Advanced Therapy
(RMAT) designation for adult patients with relapsed/refractory
multiple myeloma after three or more prior lines of therapies.
Poseida is currently enrolling patients in a Phase 1b portion of the clinical trial. The second
program, P-CD19CD20-ALLO1, is an allogeneic dual CAR-T candidate in
Phase 1 development for B-cell malignancies.
Dr. Yarema added, "Based on P-BCMA-ALLO1's promising
differentiated safety and efficacy results established with the
recent interim Phase 1 data presented at the IMS Annual
Meeting in September and in collaboration with Roche, we look
forward to continued patient enrollment in the Phase 1b trial. The new allogeneic dual CAR-T therapy
candidate announced today will leverage the same proprietary
Poseida GMP manufacturing platform that was used to create and
advance P-BCMA-ALLO1."
Poseida Cell Therapy R&D Day
The Company plans to
host its Cell Therapy R&D Day on November 14th, 2024, featuring
presentations from management and top scientists. The event will
highlight the Company's progress across its clinical-stage and
earlier-stage pipeline of differentiated allogeneic CAR-T therapies
in oncology and autoimmune disease.
The virtual event and access to the live webcast will be
available through the following registration link:
https://wsw.com/webcast/cc/pstx7/1467684. Registration for this
virtual event and access to a replay of the live webcast will also
be available on the Investors & Media section of
www.poseida.com. A replay of the webcast will be available for
approximately 90 days following the presentation.
Cash Position
As of June
30, 2024, the Company's cash, cash equivalents and
short-term investments balance was $237.8
million. With the $15 million
milestone from Roche's nomination of a new development candidate,
the Company expects that its cash, cash equivalents and short-term
investments together with other remaining near-term milestones and
other payments from Roche will be sufficient to fund operations
into early 2026. Potential additional anticipated progress and
payments under the Roche Collaboration Agreement and/or potential
additional business development could further extend the cash
runway.
About Poseida Therapeutics, Inc.
Poseida Therapeutics is a clinical-stage biopharmaceutical
company advancing differentiated allogeneic cell therapies and
genetic medicines with the capacity to cure. The Company's pipeline
includes investigational allogeneic CAR-T cell therapies for
hematologic cancers, autoimmune diseases, and solid tumors, as well
as investigational in vivo genetic medicines that address patient
populations with high unmet medical need. The Company's approach is
based on its proprietary genetic editing platforms, including its
non-viral transposon-based DNA Delivery System, Cas-CLOVER™
Site-Specific Gene Editing System, Booster Molecule and
nanoparticle gene delivery technologies, as well as in-house GMP
cell therapy manufacturing. The Company has formed strategic
collaborations with Roche and Astellas to unlock the promise of
cell therapies for cancer patients. Learn more
at www.poseida.com and connect
with Poseida on X and LinkedIn.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include statements
regarding, among other things, expected plans with respect to
clinical trials, including timing of clinical data updates;
anticipated timelines and milestones with respect to the Company's
development programs and manufacturing activities and capabilities;
the potential capabilities and benefits of the Company's technology
platforms and product candidates; the quotes from Dr. Yarema; and
the Company's plans and strategy with respect to developing its
technologies and product candidates. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. These forward-looking statements are based upon the
Company's current expectations and involve assumptions that may
never materialize or may prove to be incorrect. Actual results
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, the fact that
interim data from the Company's clinical trials may change as more
patient data become available and remain subject to audit and
verification procedures that could result in material differences
from the final data; the Company's reliance on third parties for
various aspects of its business; risks and uncertainties associated
with development and regulatory approval of novel product
candidates in the biopharmaceutical industry; the Company's ability
to retain key scientific or management personnel; the Company's
ongoing and planned clinical trials; whether any of the Company's
product candidates will be shown to be effective or safe; the
Company's ability to finance continued operations; the fact that
the Company will have limited control over the efforts and
resources that Roche devotes to advancing development programs
under its collaboration agreement with Roche; the fact that the
Company may not receive the potential fees, reimbursements and
payments under its collaboration agreement with Roche; the ability
of Roche to early terminate the collaboration, such that the
Company may not fully realize the benefits of the collaboration;
and the other risks and uncertainties described in the Risk Factors
section of the Company's Quarterly Report on Form 10-Q filed with
the Securities and Exchange Commission (SEC)
on August 5, 2024, and in other filings the Company makes with
the SEC from time to time. All forward-looking statements
contained in this press release speak only as of the date on which
they were made. The Company undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
law.
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SOURCE Poseida Therapeutics, Inc.
