Scratch one biotech IPO. And add a pivotal BCMA CAR-T to the big race against multiple myeloma.
After getting hung up over the government shutdown last January, Poseida Therapeutics is getting ready to yank its S-1 after going back to the venture well to tank up on clinical trial cash. And they’ve brought Novartis in as a big new investor alongside the syndicate — coming up with $145 million total — handing the pharma giant a ringside seat on their upcoming pivotal push for what the biotech believes is a better BCMA-targeted CAR-T for multiple myeloma.
BCMA is one of the most crowded fields in oncology right now, but Poseida doesn’t just believe that they have a better way to tackle this target. CEO Eric Ostertag tells me that their approach to relying on stem cell memory T cells comes with the promise of far greater durability than you’ll find at bluebird, the leader in the field. And he’s come up with an accelerated trial plan — shooting to file a BLA in late 2020 — that he believes will result in a virtual regulatory tie with the rival outfit.
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