Poseida Therapeutics, Inc., a La Jolla, CA-based human therapeutics company, closed a Series A financing.
The round was led by Malin Corporation plc., an Irish-based global life sciences company, which will contribute up to $30m. The remainder of the financing round was comprised of a number of other investors. In conjunction with the funding, Kelly Martin, CEO of Malin, and Adrian Howd, Ph.D., Chief Investment Officer of Malin, also join the Board of Poseida.
Led by Eric Ostertag, M.D. Ph.D., CEO, Poseida Therapeutics focuses on the development of novel therapies using its proprietary genome engineering technologies. It is currently developing gene therapies for orphan liver diseases and autologous Chimeric Antigen Receptor T-cell (CAR-T) therapies for cancer.
In addition to its internal pipeline of product candidates, the company has an existing alliance with Janssen Biotech (JNJ) to develop allogeneic CAR-T therapies for the treatment of various cancers.
The company intends to use the funds to accelerate its therapeutics pipeline, including its CAR-T therapeutics and gene therapy products.