Progress and the Power of Partnership – The Sequel

We recently celebrated the two-year anniversary of our strategic collaboration with Roche/Genentech for allogeneic CAR-T focused on hematologic malignancies. We continue to be excited by our collaboration with Roche and the strong alignment we share about the future of cell therapy and genetic medicines.

We also recently announced the achievement of a key milestone in that strategic collaboration as we initiated the Phase 1b portion of our P-BCMA-ALLO1 program which is designed as a prelude to a registrational study to follow. Roche recently asked us to continue running the trial to preserve momentum and best possible development speed.? We are excited to continue to move P-BCMA-ALLO1 forward.

In addition to the programmatic progress, the achievement results in a milestone payment being made to Poseida that strengthens our financial position.?As I have written about previously, the ability to use business development and partnerships to help generate resources builds value while managing the dilution that would come from an over-reliance on the financial markets for capital. In fact, in the first half of 2024 payments by Roche and Astellas resulted in Poseida being cash flow positive for the first half of the year – a rare occurrence in development stage biotech. In other words, this progress represents a fine example of the financial power of partnerships.

Partnerships and Prophesy?

Biotech + big pharma partnerships can be critically important and value creating as we have found, but we also acknowledge that they don’t always work out as planned for a variety of reasons.? That is not our recent experience.?

At the time we established the Roche partnership in August of 2022, I opined on the power of partnerships in a Linked In piece that can be found HERE.?At the time we established the Roche partnership we had high hopes for the work we could do together by combining what we believed were synergistic strengths of two high-science organizations. In many ways, those hopes have already been accomplished and surpassed as we work together. We are excited by what the future will bring.?

Time flies when you are having fun and helping patients.?

It is hard to believe that it’s been two years since we started our journey with Roche. The excitement, innovation and progress we have made in such a short period of time is truly extraordinary both on partnered programs and also on our own programs and ongoing technology development across cell therapy and genetic medicines.??

We celebrate a partnership anniversary and our progress with Roche, but also remain passionate about helping more patients and pursuing the opportunities we have to better serve them.