Poseida Therapeutics raises $142m in Series C financing.

Poseida Therapeutics, a clinical-stage biopharmaceutical company, raised $142m in Series C financing led by a $75m equity investment from Novartis Pharma, and joined by several new investors including Aisling Capital Management, Pentwater Capital Management, Perceptive Advisors as well as additional undisclosed institutional investors. Current investors Malin Corporation, Longitude Capital, Vivo Capital and Boxer Capital also participated in the financing. "We welcome the support and investment from Novartis, a leader in the cell and gene therapy field. They are joined by an impressive group of new investors whose commitment enables us to accelerate the pursuit of our bold vision to create gene therapy product candidates that could result in single-treatment cures for numerous oncologic indications and orphan genetic diseases, with an initial focus on chimeric antigen receptor T cell (CAR-T) therapies," Eric Ostertag, Poseida chief executive officer.