Skip to main content
PortfolioPoseida Therapeutics, Inc.

Poseida raises $30.5 million for cancer cell therapy

By April 4, 2018March 25th, 2021No Comments

San Diego’s Poseida Therapeutics has raised $30.5 million in venture capital funding, the cancer therapy developer said Tuesday.

The Series B financing round was led by new investor Longitude Capital, along with Vivo Capital and the Tavistock Group. They were joined by an existing investor, Malin Corp.

Privately held Poseida has developed its own form of a powerful new cancer treatment using what are called CAR T cells. These are immune cells genetically engineered to fight cancer.

Just two CAR T cell treatments have been approved so by the U.S. Food and Drug Administration, but many more, like Poseida’s, are in clinical or preclinical testing.

Poseida is developing several versions of this therapy. The most advanced is now in early stage clinical testing. It’s being used in patients with relapsed and refractory multiple myeloma, a cancer of the bone marrow.

Poseida said the financing will help advance this therapy, and other versions. The version being tested, called P-BCMA-101, uses a patient’s own genetically engineered cells.

Information on that ongoing clinical trial can be found on the website by searching for Poseida.

Two other versions are in preclinical development by Poseida. One, called P-PSMA-101, treats prostate cancer with a patient’s engineered cells.

Another, P-BCMA-ALLO1, is a multiple myeloma treatment that uses “allogenic” cells, which don’t come from the patient.

Allogenic cells can be prepared in advance, speeding therapy. But precautions must be taken to make sure these foreign cells don’t cause a potentially dangerous immune response.

CAR T cell therapy has raised hopes because it provides a method of precisely attacking cancer. The genetically engineered immune cells home in on a cellular target present on the cancer cells, but not on any essential cells.

Moreover, the immune cells can persist, ready to go on the attack again if the cancer recurs.

The therapy is risky, and some patients have died from uncontrolled immune responses. So it is now being used only on the very seriously ill, who have failed other treatments.

But the risk is going down, as doctors find ways to anticipate and control the most severe reactions.

The Poseida treatment now being tested in patients contains an additional precaution: a “safety switch” that makes the cells easily eliminated.

Rapha Capital Management, LLC is providing this website for informational purposes only. Nothing on this website is intended to constitute, or should be deemed to be, financial advisory, legal, tax, accounting or other professional advice to you or any other party; be an opinion of the appropriateness or suitability of any investment; or constitute an offer to sell or solicitation of an offer to buy any security or investment. This website and its content (collectively, “Content”) is intended for general informational purposes only and should not be acted upon without first obtaining financial advisory, legal, tax, accounting or other professional advice from your consultant or other professional with respect to your own personal investment objectives, financial circumstances and needs. Nothing on the Site shall be considered a recommendation or solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Any investment decisions you may make on the basis of any information found on this web site is your sole responsibility. Prior to making any investment or hiring any investment manager you should consult with a professional financial advisor, legal and tax advisor to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment. In no event shall Rapha Capital Management, LLC be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of these data.