Sound Businesses: Profiles of companies and business models we are keeping an eye on.
It’s been an interesting year for Poseida Therapeutics, the human therapeutics company that spun out of Transposagen Biopharmaceuticals in 2015. Poseida in January filed for an IPO, only to have it delayed due to the government shutdown. Then, talks with private investors advanced and Poseida nixed its IPO plans in favor of a funding round.
On April 22, the San Diego-based company announced a $142 million Series C funding round led by Swiss pharmaceutical giant Novartis, which invested $75 million. Poseida’s main focus is CAR-T cell therapy for patients with multiple myeloma, which affects about 300,000 Americans a year.