By Colin Kellaher
Shares of Poseida Therapeutics Inc. surged more than 45% in early trading Wednesday after the biopharmaceutical company said it inked a lucrative collaboration and agreement with Swiss drugmaker Roche Holding AG targeting cancers that affect the blood.
Poseida said it could pick up payments topping $6 billion over the life of the deal, including $110 million up front and up to $110 million in near-term milestones and other payments.
The San Diego company and Roche plan to develop allogeneic CAR-T therapies against targets in multiple myeloma, B-cell lymphomas and other hematologic indications.
Poseida, which reported a cash and equivalents balance of $183.5 million as of March 31, last year signed a collaboration and license agreement potentially worth billions of dollars with Japan's Takeda Pharmaceutical Co. focused on developing nonviral, in-vivo gene-therapy programs, including Poseida's hemophilia A program.
Poseida shares were recently changing hands at $3.55, up 46%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
08-03-22 1021ET