Roche (RHHBY.US) will complete a $1.5 billion acquisition of the American biopharmaceutical company Poseida (PSTX.US).

Roche (RHHBY.US) announced on Wednesday that it plans to complete the acquisition of American biopharmaceutical company Poseida Therapeutics (PSTX.US). It is understood that Poseida focuses on developing complex immune cell therapies for various types of cancer. Roche stated that it has agreed to pay Poseida nearly 65 million shares of stock, equivalent to 66% of the company's stock, with shareholders offering $9 per share and an additional payment of up to $4 per share. Taking these factors into account, the value of the transaction will be up to approximately $1.5 billion. The acquisition was announced in November of last year and is the latest move by Roche to expand its research pipeline to offset declining sales of oncology drugs. Roche stated on Wednesday, "Later today, Roche intends to complete the acquisition of Poseida... without the need for a vote or convening of a Poseida shareholder meeting." In the acquisition, all Poseida shares not owned by Poseida or Roche will convert to the right to receive the same consideration per share. Poseida will become a wholly-owned subsidiary of Roche, adding what is known as allogeneic CAR-T cell therapy to the latter, which uses genetically modified immune cells to attack cancer cells or treat autoimmune diseases. Poseida is also dedicated to CAR-T projects targeting solid tumors and autoimmune diseases.