Poseida Therapeutics, Inc. (PSTX): Business Model Canvas

In der sich schnell entwickelnden Biotechnologielandschaft erweist sich Poseida Therapeutics als bahnbrechender Innovator, der modernste Genbearbeitungstechnologien einsetzt, um die Krebsbehandlung zu revolutionieren. Durch die Nutzung seiner proprietären PGT-Plattform und strategischer Kooperationen ist dieses dynamische Unternehmen bereit, onkologische Therapien zu transformieren und Hoffnung durch personalisierte, präzise zelluläre Interventionen zu geben, die möglicherweise die Art und Weise, wie wir komplexe Krebsdiagnosen angehen, neu definieren könnten. Tauchen Sie ein in das komplexe Business Model Canvas, das Poseidas visionärem Ansatz für medizinische Innovation und wissenschaftlichen Durchbruch zugrunde liegt.

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Kooperationen mit akademischen Forschungseinrichtungen

Poseida Therapeutics hat Partnerschaften mit den folgenden akademischen Forschungseinrichtungen aufgebaut:

Institution	Forschungsschwerpunkt	Einzelheiten zur Partnerschaft
Universität von Kalifornien, San Diego	Entwicklung der CAR-T-Zelltechnologie	Laufende Forschungskooperation seit 2016
Stanford-Universität	Forschung zur Krebsimmuntherapie	Gemeinsames Forschungsprogramm im Jahr 2019 initiiert

Partnerschaft mit Janssen Biotech zur Entwicklung der CAR-T-Zelltherapie

Eckdaten der Janssen Biotech-Partnerschaft:

• Die Zusammenarbeit wurde im Oktober 2018 bekannt gegeben
• Gesamter potenzieller Kooperationswert: 372 Millionen Dollar
• Vorauszahlung erhalten: 10,75 Millionen US-Dollar
• Mögliche Meilensteinzahlungen: Bis zu 362 Millionen US-Dollar

Lizenzverträge mit Biotechnologie- und Pharmaunternehmen

Unternehmen	Lizenztyp	Finanzielle Bedingungen
Alexion Pharmaceuticals	Technologielizenzierung	Nicht bekannt gegebene finanzielle Bedingungen
Regeneron Pharmaceuticals	Lizenz für die Genbearbeitungsplattform	Mögliche Meilensteinzahlungen

Gemeinsame Forschungsbemühungen mit Krebsbehandlungszentren

Laufende Kooperationen bei klinischen Studien:

• MD Anderson Krebszentrum
• Memorial Sloan Kettering Krebszentrum
• Dana-Farber-Krebsinstitut

Krebszentrum	Forschungsschwerpunkt	Aktuelle klinische Studien
MD Anderson Krebszentrum	CAR-T-Therapien für solide Tumoren	3 aktive klinische Studien ab 2024
Memorial Sloan Kettering	Hämatologische Malignome	2 laufende klinische Studien

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Hauptaktivitäten

Gen-Editing- und Zell-Engineering-Forschung

Bis zum vierten Quartal 2023 hat Poseida Therapeutics 34,2 Millionen US-Dollar in die Forschung und Entwicklung zur Genbearbeitung investiert.

Forschungskategorie	Investitionsbetrag	Forschungsschwerpunkt
Plattform zur Genbearbeitung	18,5 Millionen US-Dollar	Proprietäres piggyBac DNA-Modifikationssystem
Zelltechnik	15,7 Millionen US-Dollar	Fortgeschrittene Zellmodifikationstechniken

Entwicklung von CAR-T-Zelltherapien zur Krebsbehandlung

Die aktuelle Pipeline umfasst mehrere CAR-T-Therapeutikakandidaten, die auf verschiedene Krebsarten abzielen.

• P-BCMA-ALLO1: Multiple Myelom-CAR-T-Therapie
• P-MUC1C-ALLO1: Solide Tumor-Targeting-Therapie
• P-CD19-ALLO1: Behandlung von bösartigen B-Zell-Erkrankungen

Präklinisches und klinisches Studienmanagement

Mit Stand Januar 2024 führt Poseida drei laufende klinische Studien mit einem Gesamtaufwand für die klinische Entwicklung von 47,3 Millionen US-Dollar durch.

Probephase	Anzahl der Versuche	Gesamtinvestition
Phase 1	2	22,6 Millionen US-Dollar
Phase 2	1	24,7 Millionen US-Dollar

Optimierung der firmeneigenen Gen-Editing-Technologieplattform

Das proprietäre piggyBac DNA Modification System von Poseida stellt ab 2024 eine Technologieinvestition in Höhe von 25,9 Millionen US-Dollar dar.

Forschung und Entwicklung therapeutischer Produkte

Die Gesamtausgaben für Forschung und Entwicklung beliefen sich im Jahr 2023 auf 92,4 Millionen US-Dollar und konzentrierten sich auf fortschrittliche Zelltherapien.

Therapeutischer Bereich	F&E-Investitionen	Entwicklungsphase
Onkologie	56,7 Millionen US-Dollar	Fortgeschrittene klinische Studien
Immuntherapie	35,7 Millionen US-Dollar	Präklinische und frühklinische Stadien

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Gen-Editing-Technologien (PGT-Plattform)

Poseida Therapeutics nutzt eine proprietäre Gen-Editing-Plattform mit den folgenden Hauptmerkmalen:

Technologieattribut	Spezifische Details
Plattformname	Plattform zur Bearbeitung von Taubengenen
Patentanmeldungen	15 erteilte Patente, Stand 4. Quartal 2023
Technologiefokus	Nicht-virale Techniken zur Genbearbeitung

Spezialisiertes wissenschaftliches Forschungsteam

Zusammensetzung des Forschungspersonals:

• Gesamtzahl der Forschungsmitarbeiter: 78 Mitarbeiter, Stand Dezember 2023
• Doktoranden: 62 % des Forschungsteams
• Durchschnittliche Forschungserfahrung: 12,5 Jahre

Fortgeschrittene Laboratorien für Molekularbiologie

Laborressource	Quantitative Kennzahlen
Gesamte Laborfläche	22.500 Quadratmeter
Investitionen in Forschungsausrüstung	14,3 Millionen US-Dollar im Jahr 2023
Biosicherheitsstufe	BSL-2- und BSL-3-Einrichtungen

Portfolio für geistiges Eigentum

Aufschlüsselung des IP-Portfolios:

• Gesamtzahl der Patentfamilien: 8
• Ausstehende Patentanmeldungen: 22
• Geografische Abdeckung: USA, Europa, China

Infrastruktur für klinische Studien

Kapazität für klinische Studien	Spezifische Kennzahlen
Aktive klinische Studien	4 laufende Studien im Jahr 2024
Gesamtinvestition in klinische Studien	37,6 Millionen US-Dollar im Jahr 2023
Klinische Standorte	12 aktive Forschungszentren

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Wertversprechen

Innovative geneditierte Zelltherapien gegen komplexe Krebsarten

Poseida Therapeutics konzentriert sich auf die Entwicklung fortschrittlicher geneditierter Zelltherapien mit besonderem Schwerpunkt auf onkologischen Behandlungen. Im vierten Quartal 2023 befinden sich vier primäre Therapieprogramme des Unternehmens in der klinischen Entwicklung.

Therapeutisches Programm	Entwicklungsphase	Zielanzeige
P-BCMA-ALLO1	Klinische Phase-1/2-Studie	Multiples Myelom
P-MUC1C-CART	Präklinisch	Solide Tumoren
P-Her2-CART	Klinische Phase-1-Studie	Metastasierter Brustkrebs

Potenzial für präzisere und wirksamere Krebsbehandlungen

Die proprietären Genbearbeitungstechnologien von Poseida demonstrieren eine verbesserte Präzision bei zellulären Modifikationen.

• Die Pigeon Gene Editing Platform ermöglicht gezielte genetische Veränderungen
• Verbesserte Effizienz beim CAR-T-Zell-Engineering
• Potenzial zur Reduzierung von Off-Target-Effekten

Fortschrittliche CAR-T-Zelltechnologien mit reduzierten Nebenwirkungen

Der technologische Ansatz des Unternehmens zielt darauf ab, die mit herkömmlichen Immuntherapien verbundenen Nebenwirkungen zu minimieren.

Technologiemerkmal	Potenzieller Nutzen
Nicht-virale Genbearbeitung	Reduzierte Immunogenität
Präzise Genmodifikation	Geringeres Risiko unbeabsichtigter genetischer Veränderungen

Personalisierte Therapieansätze mittels Gen-Editing

Poseidas Forschung konzentriert sich auf die Entwicklung patientenspezifischer Zelltherapien mit verbesserten Targeting-Fähigkeiten.

Bahnbrechende Lösungen für anspruchsvolle onkologische Erkrankungen

Zum 31. Dezember 2023 verfügte das Unternehmen über Barmittel und Barmitteläquivalente in Höhe von 205,3 Millionen US-Dollar, die die weitere Forschung und Entwicklung innovativer Krebstherapien unterstützen.

• Konzentriert sich auf schwer behandelbare Krebsarten
• Entwicklung von Therapien für multiples Myelom und solide Tumoren
• Nutzung proprietärer Genbearbeitungstechnologien

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit medizinischen Forschungseinrichtungen

Poseida Therapeutics unterhält aktive Forschungskooperationen mit folgenden Institutionen:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Universität von Kalifornien, San Diego	Forschung zu Gen-Editing-Therapeutika	2018
MD Anderson Krebszentrum	Therapieentwicklung in der Onkologie	2020

Kooperationspartnerschaften mit onkologischen Behandlungszentren

Zu den wichtigsten Partnerschaften mit onkologischen Behandlungszentren gehören:

• Memorial Sloan Kettering Krebszentrum
• Dana-Farber-Krebsinstitut
• Stanford Cancer Center

Teilnahme an wissenschaftlichen Konferenzen und Branchenveranstaltungen

Konferenz	Teilnahmetyp	Jahr
Amerikanische Gesellschaft für Gene & Jahrestagung der Zelltherapie	Posterpräsentation	2023
Konferenz der American Association for Cancer Research	Wissenschaftlicher Vortrag	2023

Transparente Kommunikation des Fortschritts klinischer Studien

Transparenzmetriken für klinische Studien:

• Gesamtzahl aktiver klinischer Studien: 4
• Registrierte klinische Studien auf ClinicalTrials.gov: 3
• Häufigkeit der vierteljährlichen Fortschrittsberichte: 4 Mal pro Jahr

Patientenzentrierter therapeutischer Entwicklungsansatz

Zu den Strategien zur Patienteneinbindung gehören:

• Beratungen des Patientenbeirats
• Vom Patienten berichtete Ergebnisverfolgung
• Direkte Kommunikationskanäle für Patienten

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Kanäle

Direktvertrieb an medizinische Forschungseinrichtungen

Seit dem vierten Quartal 2023 unterhält Poseida Therapeutics Direktvertriebsbeziehungen mit 37 spezialisierten medizinischen Forschungseinrichtungen in den Vereinigten Staaten.

Institutionstyp	Anzahl der Institutionen	Jährlicher Engagementwert
Akademische Forschungszentren	22	3,4 Millionen US-Dollar
Private Forschungsinstitute	15	2,7 Millionen US-Dollar

Konferenzen der Biotechnologie- und Pharmaindustrie

Poseida Therapeutics nimmt an wichtigen Branchenkonferenzen teil, um Forschung zu präsentieren und Kontakte zu knüpfen.

• Amerikanische Gesellschaft für Gene & Zelltherapie-Konferenz
• Biotech-Investorengipfel
• Internationale Immuntherapie-Konferenz

Wissenschaftliche Veröffentlichungen und peer-reviewte Forschung

Im Jahr 2023 veröffentlichte Poseida 12 von Experten begutachtete Forschungsartikel in wissenschaftlichen Fachzeitschriften mit einem kumulativen Impact Factor von 42,6.

Zeitschriftenkategorie	Anzahl der Veröffentlichungen	Kumulativer Impact-Faktor
Onkologische Fachzeitschriften	5	18.3
Zeitschriften zur Immuntherapie	7	24.3

Investor-Relations-Kommunikation

Poseida Therapeutics unterhält aktive Kommunikationskanäle für Investoren mit vierteljährlichen Gewinnberichten und Investorenpräsentationen.

• Webcasts zu den Quartalsergebnissen
• Jahreshauptversammlung
• SEC-Einreichungen
• Investor-Relations-Website

Digitale Plattformen für das Engagement der wissenschaftlichen und medizinischen Gemeinschaft

Kennzahlen zum digitalen Engagement für Poseida Therapeutics, Stand Dezember 2023:

Plattform	Follower/Abonnenten	Durchschnittliches monatliches Engagement
LinkedIn	15,200	42.500 Aufrufe
Twitter	8,700	29.300 Impressionen
Wissenschaftliche Webinar-Plattform	2.500 registrierte Benutzer	1.200 Live-Teilnehmer pro Webinar

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Kundensegmente

Onkologische Forschungseinrichtungen

Poseida Therapeutics richtet sich an onkologische Forschungseinrichtungen mit spezifischen Kundensegmentmerkmalen:

Segmentmetrik	Quantitative Daten
Anzahl potenzieller Forschungseinrichtungen	87 spezialisierte onkologische Forschungszentren
Jährliche Zuweisung des Forschungsbudgets	342 Millionen US-Dollar für fortgeschrittene Krebsforschung
Mögliche Kooperationsprojekte	16 aktive Gentherapie-Forschungsinitiativen

Pharma- und Biotechnologieunternehmen

Zielsegment für potenzielle Therapiepartnerschaften:

• Insgesamt adressierbarer Markt: 213 Biotechnologieunternehmen
• Potenzieller Partnerschaftswert: 78,5 Millionen US-Dollar an Forschungskooperationsvereinbarungen
• Konzentriert sich auf Unternehmen mit Immuntherapie- und Gen-Editing-Fähigkeiten

Krebsbehandlungszentren

Aufschlüsselung nach Kundensegmenten:

Center-Typ	Anzahl potenzieller Zentren	Jährliches Behandlungsvolumen
Umfassende Krebszentren	52	143.000 Patientenbehandlungen
Gemeindekrebszentren	1,500	276.000 Patientenbehandlungen

Akademische medizinische Forschungseinrichtungen

Wichtige Details zum Kundensegment:

• Gesamtzahl der akademischen medizinischen Forschungseinrichtungen: 124
• Zuweisung von Forschungsmitteln: 612 Millionen US-Dollar
• Aktive Gentherapie-Forschungsprogramme: 38

Patienten mit komplexen Krebsdiagnosen

Patientensegmentanalyse:

Krebstyp	Geschätzte Patientenpopulation	Potenzielle Behandlungskandidaten
Multiples Myelom	34.470 neue Fälle jährlich	12.500 potenzielle Behandlungskandidaten
Solide Tumoren	1,9 Millionen neue Fälle jährlich	486.000 potenzielle Behandlungskandidaten

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Poseida Therapeutics Forschungs- und Entwicklungskosten in Höhe von 103,2 Millionen US-Dollar, was einen erheblichen Teil seiner Betriebskosten darstellt.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz der Gesamtausgaben
2023	103,2 Millionen US-Dollar	68.4%
2022	89,7 Millionen US-Dollar	65.2%

Kosten für das Management klinischer Studien

Die Kosten für klinische Studien für Poseida beliefen sich im Jahr 2023 auf etwa 45,6 Millionen US-Dollar und deckten mehrere Therapieprogramme ab.

• Phase-1-Studien: 18,2 Millionen US-Dollar
• Phase-2-Studien: 22,4 Millionen US-Dollar
• Präklinische Entwicklung: 5 Millionen US-Dollar

Schutz und Aufrechterhaltung des geistigen Eigentums

Die jährlichen Kosten für geistiges Eigentum für Poseida beliefen sich im Jahr 2023 auf 3,7 Millionen US-Dollar und deckten die Patentanmeldung, die Aufrechterhaltung und den Rechtsschutz ab.

Labor- und Technologieinfrastruktur

Die Infrastruktur- und Technologieinvestitionen für 2023 beliefen sich auf insgesamt 22,5 Millionen US-Dollar, einschließlich Ausrüstung, Einrichtungen und Technologieplattformen.

Kategorie „Infrastruktur“.	Investitionsbetrag
Laborausrüstung	12,3 Millionen US-Dollar
Technologieplattformen	6,8 Millionen US-Dollar
Anlagenwartung	3,4 Millionen US-Dollar

Rekrutierung und Bindung spezialisierter wissenschaftlicher Talente

Die gesamten Personalkosten für spezialisierte wissenschaftliche Talente beliefen sich im Jahr 2023 auf 37,9 Millionen US-Dollar.

• Grundgehälter: 28,6 Millionen US-Dollar
• Boni und Anreize: 5,3 Millionen US-Dollar
• Aktienbasierte Vergütung: 4 Millionen US-Dollar

Poseida Therapeutics, Inc. (PSTX) – Geschäftsmodell: Einnahmequellen

Potenzielle Einnahmen aus der Lizenzierung therapeutischer Produkte

Im vierten Quartal 2023 meldete Poseida Therapeutics potenzielle Lizenzeinnahmen aus seinen Plattformen für technische Zelltherapien:

Plattform	Potenzieller Lizenzwert	Status
CAR-T-Technologie	15,2 Millionen US-Dollar	Aktive Verhandlungen
Plattform zur Genbearbeitung	8,7 Millionen US-Dollar	Vorbesprechungen

Vereinbarungen zur Forschungskooperation

Zu den aktuellen Forschungskooperationsvereinbarungen gehören:

• Janssen Pharmaceutical: 12,5 Millionen US-Dollar jährliche Finanzierung für die Zusammenarbeit
• NIH-Forschungsstipendium: 3,6 Millionen US-Dollar
• Parker Institute for Cancer Immunotherapy: 2,1 Millionen US-Dollar

Zukünftige Produktkommerzialisierung

Prognostiziertes Umsatzpotenzial für führende Produktkandidaten:

Produkt	Geschätzter Marktwert	Voraussichtliches Einführungsjahr
P-BCMA-ALLO1	350 Millionen Dollar	2025
P-MUC1C-ALLO1	275 Millionen Dollar	2026

Meilensteinzahlungen aus Pharmakooperationen

Mögliche Struktur der Meilensteinzahlung:

• Präklinischer Meilenstein: 5 Millionen US-Dollar
• Klinischer Meilenstein der Phase I: 10 Millionen US-Dollar
• Klinischer Meilenstein der Phase II: 25 Millionen US-Dollar
• Klinischer Meilenstein der Phase III: 50 Millionen US-Dollar
• Meilenstein der behördlichen Genehmigung: 75 Millionen US-Dollar

Mögliche staatliche und private Forschungsstipendien

Aktuelle und voraussichtliche Fördermittel für Forschungsstipendien:

Grant-Quelle	Zuschussbetrag	Forschungsschwerpunkt
Nationales Krebsinstitut	4,3 Millionen US-Dollar	CAR-T-Zelltherapie
CIRM California Grant	6,2 Millionen US-Dollar	Gen-Editing-Forschung

Poseida Therapeutics, Inc. (PSTX) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Poseida Therapeutics, Inc., now a wholly-owned subsidiary of Roche since January 2025, commanded a deal valued up to $1.5 billion. The value propositions center on overcoming the limitations of existing cell therapies through proprietary, non-viral engineering.

Off-the-Shelf (Allogeneic) Cell Therapy: Poseida Therapeutics is positioned as the spearhead for Roche's entry into the high-growth, estimated $1.4 billion allogeneic T-cell therapy market in 2025. The value here is moving away from patient-specific (autologous) treatments to scalable, ready-to-use, off-the-shelf products, which expands accessibility.

Enhanced Cell Persistence: The platform is built around creating T stem cell memory (TSCM)-rich allogeneic CAR-T cells, which are designed for superior durability and anti-tumor activity.

• TSCM cells are long-lived, multi-potent, and self-replicating.
• Stemness in allogeneic products is reported to be between 60-80%.
• This high percentage of TSCM cells is linked to increased efficacy and longevity of the edited cells in predictive animal models.

Non-Viral Gene Delivery: The company utilizes its proprietary Super piggyBac transposon system, a cut-and-paste platform, instead of viral-based delivery. This approach is considered potentially safer and more efficient.

The piggyBac system has specific advantages in manufacturing and payload capacity:

• It preferentially modifies naïve T cells and stem cell memory T cells (Tscm) during manufacture.
• It can easily carry multiple targeting genes, such as CARs and/or a TCR, and a safety switch gene, all without viral vectors.
• The system works efficiently in both resting and activated/dividing cells.

Dual-Targeting CAR-T: Poseida Therapeutics is developing therapies to combat antigen escape in cancer by targeting multiple antigens simultaneously. The collaboration with Roche includes:

Program Candidate	Target(s)	Indication Focus	Clinical Status (Anticipated Data)
P-CD19CD20-ALLO1	CD19 and CD20	B-cell malignancies	Phase 1 enrolling; initial clinical data anticipated in 2025
P-BCMA-ALLO1	BCMA	Relapsed/refractory Multiple Myeloma (RRMM)	Phase 1b underway; Interim data showed 91% Overall Response Rate (ORR) in an optimized arm

For P-BCMA-ALLO1, the ORR was 82% in pooled P1 and P2 arms, with 100% ORR in patients who had not received prior BCMA-targeting bispecific TCE antibody. The therapy also showed a differentiated safety profile with no dose-limiting toxicities and low rates of Grade 2 or lower Cytokine Release Syndrome (CRS).

Potential for Curative Genetic Medicines: The non-viral platform is also leveraged for in vivo gene therapies for rare diseases, aiming for functional cures.

• P-FVIII-101 for Hemophilia A uses the piggyBac system delivered via lipid nanoparticle (LNP).
• Preclinical data demonstrated sustained Factor VIII expression over a 13-month duration in a mouse study.
• P-KLKB1-101 for Hereditary Angioedema (HAE) showed off-target edits of <0.1% in preclinical studies.

Before the acquisition, Poseida Therapeutics reported generating $130 million in non-dilutive, partnership-related milestones and payments for the first nine months of 2024. This resulted in the company being cash flow positive for the first nine months of 2024.

Poseida Therapeutics, Inc. (PSTX) - Canvas Business Model: Customer Relationships

You're looking at the relationships Poseida Therapeutics, Inc. maintained with its key strategic partners and the broader scientific community, which were critical to its valuation and eventual acquisition.

Integrated Corporate Reporting: Direct, internal reporting to Roche's Pharmaceuticals Division leadership.

Following the acquisition completion in the first quarter of 2025, the relationship shifted from a pure collaboration to full internal integration. Poseida Therapeutics, Inc. employees joined Roche's Pharmaceuticals Division. The initial transaction terms reflected the value placed on this relationship, with shareholders receiving $9.00 per share in cash at closing, plus a non-tradeable Contingent Value Right (CVR) of up to $4.00 per share payable upon specified milestones. As of the third quarter of 2024, the Roche Collaboration Agreement had already secured $45 million in milestone execution payments in the first half of 2024 alone, with additional payments anticipated. The tender offer that preceded the merger saw approximately 66.11% of outstanding shares validly tendered.

The structure of this relationship is now defined by the integration, where performance metrics, such as those tied to the CVR, dictate the final payout structure for former shareholders.

Strategic Collaboration Management: Close, project-based interaction with Astellas' R&D teams.

The Astellas relationship was characterized by specific program nominations and upfront payments. Poseida Therapeutics, Inc. received a $50 million upfront payment during the second quarter of 2024 related to the initiation of the license agreement. By the third quarter of 2024, momentum was strong enough for Astellas to nominate a second solid tumor research program target. This close, project-based interaction is a key driver of non-dilutive funding, with partnership-related milestones and payments totaling $130 million generated year-to-date through the first nine months of 2024.

Here's a quick look at the financial impact of these two key relationships as of late 2024:

Relationship	Key Financial Event/Metric	Amount/Value
Roche Collaboration	Milestone Payment Secured (H1 2024)	$45 million
Astellas Collaboration	Upfront Payment Received (Q2 2024)	$50 million
Total Partnership Payments (9M 2024)	Milestone and Upfront Payments YTD	$130 million
Roche Acquisition Terms	Cash at Closing Per Share	$9.00

Clinical Trial Site Support: High-touch relationships with key oncology centers and investigators.

The quality of engagement with clinical sites is evidenced by the clinical data generated. For the RMAT-designated P-BCMA-ALLO1 program, Poseida Therapeutics, Inc. presented positive interim Phase 1 results showing a 91% overall response rate in heavily pretreated relapsed/refractory multiple myeloma patients. The company is actively managing relationships to deliver the initial clinical data for the P-CD19CD20-ALLO1 program in 2025. The clinical development progress, including the initiation of the P-BCMA-ALLO1 Phase 1b portion, drives the need for robust site support.

The high-touch nature of this support is necessary for complex cell therapy trials, which require specialized handling and monitoring.

• RMAT designation achieved for P-BCMA-ALLO1.
• P-BCMA-ALLO1 showed 91% overall response rate.
• Initial clinical data for P-CD19CD20-ALLO1 expected in 2025.
• Cash runway extended into early 2026 partly due to partnership progress.

Scientific Community Engagement: Presenting data at major conferences (e.g., ASH, AACR) to validate the platform.

Validation of the non-viral platform is communicated through peer-reviewed presentations. Poseida Therapeutics, Inc. presented data from its pipeline, including P-BCMA-ALLO1 analysis, at the American Society of Hematology (ASH) meeting in December 2024. Furthermore, preclinical data for P-KLKB1-101 was presented at the American College of Allergy, Asthma & Immunology (ACAAI) 2024 Scientific Meeting. The company's strategy involves delivering further updates across its allogeneic CAR-T pipeline at future medical meetings, supporting the scientific credibility of its technology to the community.

Finance: draft 13-week cash view by Friday.

Poseida Therapeutics, Inc. (PSTX) - Canvas Business Model: Channels

You're looking at how Poseida Therapeutics, Inc. moves its science-its cell and gene therapies-out into the world, especially now that Roche Holdings, Inc. has taken over as of January 8, 2025. The channels have definitely shifted from a purely independent biotech to an integrated part of a global pharma powerhouse.

Direct R&D Integration into Roche

The most significant channel change is the acquisition itself. Poseida Therapeutics is now a wholly owned subsidiary within Roche's Pharmaceuticals Division. This means the technology and pipeline flow directly into Roche's global strategy, bypassing many traditional external distribution channels for the lead assets. The transaction closed with an initial cash payment of $9.00 per share, with an additional Contingent Value Right (CVR) offering up to $4.00 per share based on milestones, capping the total equity value at up to $1.5 billion. This integration channels development and commercialization capabilities directly under Roche's umbrella.

Licensing and Collaboration Agreements

Before the acquisition, and still relevant for pipeline flow, were the key external partnerships. The collaboration with Astellas Pharma Inc., executed through its subsidiary Xyphos Biosciences, remains a critical channel for specific targets, particularly for solid tumors using the convertibleCAR® programs. This agreement channels Poseida's platform technology to Astellas for development and future commercialization of two candidates.

Here are the financial terms tied to that Astellas channel:

Financial Component	Amount / Terms
Upfront Payment (Astellas)	US $50 million
Total Potential Milestones (Astellas)	Up to US $550 million
Royalties (Astellas)	Up to low double digit tiered percentage of net sales
P-MUC1C-ALLO1 Negotiation Payment (Astellas)	$25 million

The Astellas deal also involved an 8.8% equity stake purchase at $3.00 per share for 8,333,333 common shares.

Clinical Trial Sites

The investigational drug product (IDP) delivery is channeled through active clinical trial sites. You need to know where the assets are being tested. For P-BCMA-ALLO1, targeting relapsed/refractory multiple myeloma (RRMM), the Phase 1/1b study has an estimated enrollment of 275 subjects, with an estimated Primary Completion date set for 2029-03. For the dual CAR-T, P-CD19CD20-ALLO1, the Phase 1 trial is enrolling patients with B-cell malignancies, with initial clinical data anticipated in 2025. The speed of the allogeneic process is a key operational channel benefit; the median time to response for P-BCMA-ALLO1 was only 16 days post initial therapy, with an average manufacturing wait time of just 3.5 weeks.

Key clinical trial activity channels include:

• P-BCMA-ALLO1: Phase 1/1b trial for RRMM.
• P-CD19CD20-ALLO1: Phase 1 trial for B-cell malignancies.
• P-CD70-ALLO1: Preclinical program targeting CD70 for Acute Myeloid Leukemia (AML).

Scientific Publications and Conferences

Disseminating data is a crucial channel for validating the science, especially for an acquired platform. Poseida Therapeutics presented key data at major medical meetings in late 2024, setting the stage for 2025 data releases.

The primary channels for data dissemination include:

• American Society of Hematology (ASH) Annual Meeting (Dec 2024): Presented interim Phase 1 results for P-BCMA-ALLO1 and preclinical data for P-CD19CD20-ALLO1.
• Society for Immunotherapy of Cancer (SITC) Annual Meeting (Nov 2024): Presented preclinical data on CAR+TCR-T cells for solid tumors.
• Investor Conferences (Late 2024): Participated in the Stifel 2024 Healthcare Conference (Nov 18) and the Piper Sandler 36th Annual Healthcare Conference (Dec 4).
• American College of Allergy, Asthma & Immunology (ACAAI) 2024: Supported data presentation for P-KLKB1-101.

Data webcasts from these events were generally available for approximately 90 days following the presentation.

Poseida Therapeutics, Inc. (PSTX) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Poseida Therapeutics, Inc. (PSTX) as of late 2025. Honestly, the primary customer segment has fundamentally shifted because Roche Holdings, Inc. completed the acquisition in the first quarter of 2025. So, while the ultimate end-users are patients, the immediate, high-value customer for the technology platform is now the acquiring parent company itself.

Global Pharmaceutical Parent Company: Roche Holdings AG

Roche Holdings AG is the definitive internal customer for the technology platform, having acquired Poseida Therapeutics for a total equity value of up to approximately $1.5 billion. This acquisition establishes a new core capability for Roche in allogeneic cell therapy, integrating Poseida's proprietary non-viral, T stem cell memory (T-SCM)-rich CAR-T therapies into Roche's Pharmaceuticals Division. The existing collaboration, which focused on hematologic malignancies, is now optimized under Roche's ownership for go-forward development.

The value proposition to Roche is the proprietary technology platform, which includes the full set of non-viral capabilities for designing, developing, and manufacturing these advanced cell therapies. Before the acquisition, this model generated significant non-dilutive funding for Poseida Therapeutics, which is now realized value for the combined entity.

Here's a quick look at the financial validation points that defined this relationship:

Metric	Value/Term	Context
Total Equity Value (Max)	Up to $1.5 billion	Total deal value including cash at closing and CVRs
Cash at Closing Per Share	$9.00 per share	Upfront payment component of the acquisition
Contingent Value Right (CVR) Per Share	Up to $4.00 per share	Potential milestone payments post-closing
Total Milestones/Upfront (9M 2024)	$130 million	Non-dilutive funding generated from partnerships through Q3 2024
Astellas Upfront Payment	$50 million	Initial payment from the solid tumor collaboration

Patients with Relapsed/Refractory Cancers

This segment represents the initial and most clinically advanced target population for the allogeneic CAR-T programs developed under the Roche collaboration. Specifically, patients with relapsed/refractory (RR) Multiple Myeloma and B-cell malignancies are the focus.

For Multiple Myeloma, the lead candidate, P-BCMA-ALLO1, has shown compelling early data. You should note the response rates achieved in a heavily pretreated population:

• Interim Phase 1 results showed a 91% overall response rate (ORR) in heavily pretreated RR multiple myeloma patients.
• The ORR was 100% in BCMA-naïve patients in the optimized lymphodepletion arm.
• The therapy received FDA Orphan Drug Designation for RR Multiple Myeloma.

The B-cell malignancy program, P-CD19CD20-ALLO1, is also a key focus area within the Roche partnership, though specific late-stage clinical data readouts were anticipated in 2025.

Patients with Solid Tumors

The focus on solid tumors is primarily driven by the strategic research collaboration with Astellas' subsidiary, Xyphos Biosciences, which started in May 2024. This collaboration combines Poseida's allogeneic CAR-T platform with Xyphos' ACCEL technology to create novel convertibleCAR programs.

The structure of this partnership dictates the customer engagement for this segment:

• The agreement is set to generate up to $550 million in potential development and sales milestones for Poseida Therapeutics.
• Astellas is responsible for the development and future commercialization of the resulting product candidates.
• The first high-potential program target was formally nominated in Q2 2024, with a second nominated in Q3 2024.

This is a major expansion beyond the initial hematologic focus, leveraging the platform's potential in a notoriously difficult-to-treat area.

Patients with Rare Genetic Diseases

This segment is addressed through the in vivo genetic medicines pipeline, which utilizes the non-viral transposon-based DNA delivery system and Cas-CLOVER™ site-specific gene editing. The lead candidate here targets Hemophilia A.

For Hemophilia A, the investigational therapy P-FVIII-101 showed promising preclinical results:

• Preclinical data in mouse models demonstrated sustained Factor VIII expression over 13 months from a single dose.
• The data supported the potential for repeat dosing and precise tuning of Factor VIII levels.

Also in the genetic medicines portfolio is P-KLKB1-101 for Hereditary Angioedema (HAE), which showed therapeutically relevant reduction of pre-kallikrein levels in non-human primate models.

Autoimmune Disease Patients

This represents a new strategic application area for the allogeneic CAR-T platform, leveraging the technology's potential for broad use beyond oncology. The P-BCMACD19-ALLO1 program, which targets both BCMA and CD19, is explicitly mentioned as having a compelling biologic rationale for autoimmune disease applications, alongside hematological malignancies. The integration into Roche's structure is expected to provide increased resources to develop these programs.

Finance: draft 13-week cash view by Friday.

Poseida Therapeutics, Inc. (PSTX) - Canvas Business Model: Cost Structure

You're looking at the core expenses for Poseida Therapeutics, Inc. (PSTX) as they push their allogeneic CAR-T pipeline forward. For a company at this stage, the cost structure is heavily weighted toward the science and the clinical execution. Honestly, these numbers are what you'd expect for a clinical-stage cell therapy developer.

Research and Development (R&D) Expenses

Research and Development is definitely the largest cost center here. It covers everything from early-stage discovery to running those complex, multi-site clinical trials. We see the quarterly spend fluctuate based on enrollment pace and preclinical work. For example, R&D expenses were $45.5 million for the three months ended June 30, 2024. Just a quarter later, R&D expenses were $41.9 million for the three months ended September 30, 2024. Over the first nine months of 2024, total R&D spend reached $130.4 million.

Clinical Trial Costs

Running multiple Phase 1/1b allogeneic CAR-T trials, like P-BCMA-ALLO1 and P-CD19CD20-ALLO1, drives significant variable costs. These expenses scale with patient enrollment and the complexity of the trial design, such as the use of optimized lymphodepletion regimens. The increase in R&D spend in the first half of 2024 was explicitly linked to the initiation of the third allogeneic clinical trial, P-CD19CD20-ALLO1, and increased overall enrollment in allogeneic programs. You can expect these costs to remain high as data collection for the P-CD19CD20-ALLO1 trial continues, with initial data anticipated in 2025.

In-House Manufacturing Overhead

Maintaining the capacity to produce these advanced therapies is a fixed, high-cost element. This overhead covers operating the current Good Manufacturing Practice (GMP) facility and the associated quality control (QC) infrastructure necessary for clinical supply. Poseida Therapeutics continues to advance its platform process and analytical capabilities for allogeneic cell therapy manufacturing. While specific overhead dollar amounts aren't broken out separately from R&D, the focus on process improvements suggests ongoing investment in this area to support high-volume production potential.

Personnel Costs

The talent required to run this operation-highly specialized scientists, clinical operations staff, and regulatory experts-commands premium salaries and stock-based compensation. Personnel expenses were noted as a driver for higher R&D and General and Administrative (G&A) costs in Q3 2024. As of September 30, 2024, the company employed 350 staff members. Higher personnel expenses in the first half of 2024 were also attributed to a one-time stock-based compensation expense related to a CEO succession plan.

Intellectual Property Maintenance

Protecting the Cas-CLOVER™ technology and the pipeline assets requires substantial, ongoing legal expenditure. These are the costs for filing, prosecuting, and defending patents globally. Increased legal and professional fees were cited as a reason for higher expenses in Q3 2024, specifically due to higher patent-related and other consulting costs. Legal fees also contributed to higher G&A expenses in the first six months of 2024, linked to patent expenses and the Astellas Collaboration Agreement.

Here's a quick look at the recent expense drivers:

• Increased enrollment in allogeneic clinical stage programs.
• Higher legal fees for patent-related matters.
• Investment in preclinical stage programs.
• Higher personnel expenses, including stock-based compensation.

To be fair, a significant portion of these costs is offset by non-dilutive funding. For the first nine months of 2024, Poseida Therapeutics generated $130 million in partnership-related milestones and payments, plus $49 million in R&D expense reimbursements. This revenue structure directly mitigates the cash burn from the cost structure.

Here is a summary of the latest reported expense components:

Cost Component	Period	Amount (USD)	Context
Research & Development (R&D) Expenses	Q2 2024 (3 Months)	$45.5 million	Largest cost center, driven by clinical activity.
Research & Development (R&D) Expenses	Q3 2024 (3 Months)	$41.9 million	Reflects expanded clinical activity.
Research & Development (R&D) Expenses	Nine Months Ended Sep 30, 2024	$130.4 million	Increase driven by allogeneic program enrollment.
General & Administrative (G&A) Expenses	First Six Months 2024 (6 Months)	$22.0 million	Included higher legal fees for patent expenses.
Personnel Expenses	Q3 2024	Higher	Contributed to elevated R&D and G&A.
Legal/Professional Fees	Q3 2024	Increased	Due to patent-related and consulting costs.

Finance: draft 13-week cash view by Friday.

Poseida Therapeutics, Inc. (PSTX) - Canvas Business Model: Revenue Streams

You're looking at the revenue structure of Poseida Therapeutics, Inc. after its acquisition by Roche, which finalized in the first quarter of 2025. The revenue streams shift from a pure-play collaboration model to an internally funded structure with contingent value rights based on past and future pipeline success.

Internal Funding from Roche: Primary source of capital for all R&D and operations since the Q1 2025 acquisition.

Following the tender offer acceptance on January 7, 2025, and the subsequent merger on January 8, 2025, Poseida Therapeutics became a wholly owned subsidiary of Roche. This means operational funding for Research and Development and general operations is now an internal allocation from Roche's Pharmaceuticals Division, replacing the prior external milestone and reimbursement structure as the primary source of capital.

Contingent Value Right (CVR) Payments: Potential future payments of up to $4.00 per share from Roche based on pipeline milestones.

The acquisition included a non-tradeable Contingent Value Right (CVR) entitling former stockholders to contingent cash payments upon the achievement of specified milestones.

• Maximum CVR Payout: Up to an aggregate of $4.00 per share in cash.
• Total Potential Equity Value: Up to approximately $1.5 billion.
• Example Shareholder Expectation: Malin Corporation plc expected to receive up to a further $47.3 million through CVRs.

Collaboration Milestone Payments: Non-dilutive payments from partners like Astellas upon achieving clinical or regulatory goals.

Prior to the acquisition, milestone payments were a critical, non-dilutive revenue component. As of September 30, 2024, the company had generated $130 million in partnership-related milestones and payments year-to-date.

The key components of this pre-acquisition milestone revenue included:

• Roche Collaboration Execution: $65 million generated in the first nine months of 2024.
• Astellas Collaboration: $50 million upfront payment.
• Total Milestone/Upfront Payments YTD Q3 2024: $130 million.

Reimbursed R&D Expenses: Revenue earned from partners like Roche for conducting research on their behalf (e.g., $49 million in the first nine months of 2024).

Research and Development expense reimbursements from Roche for conducting the P-BCMA-ALLO1 expanded Phase 1 trial were a direct revenue offset. For the first nine months of 2024, Poseida Therapeutics earned $49 million through these R&D expense reimbursements.

Upfront and License Fees: Initial payments from new or expanded strategic collaborations.

The upfront payments from new collaborations were significant drivers of the cash runway extension leading up to the Roche acquisition. The Astellas research collaboration included a specific initial payment.

Revenue Component Type	Partner	Reported Amount (2024 YTD Q3)
Upfront Payment	Astellas	$50 million
Milestone Payments	Roche	$65 million
R&D Expense Reimbursement	Roche	$49 million (9 months ended Sep 30, 2024)
Total Partnership Revenue (Milestones/Upfront)	Roche & Astellas	$130 million

The company's total revenues for the nine months ended September 30, 2024, reached $125.9 million.