Poseida Therapeutics, Inc. (PSTX): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da biotecnologia, a Poseida Therapeutics surge como inovadora inovadora, empunhando tecnologias de edição de genes de ponta para revolucionar o tratamento do câncer. Ao alavancar sua plataforma de PGT e colaborações estratégicas proprietárias, esta empresa dinâmica está pronta para transformar terapias oncológicas, oferecendo esperança por meio de intervenções celulares personalizadas e precisas que podem potencialmente redefinir como abordamos diagnósticos complexos de câncer. Mergulhe na intrincada lona do modelo de negócios que sustenta a abordagem visionária de Poseida para inovação médica e avanço científico.

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de pesquisa acadêmica

A Poseida Therapeutics estabeleceu parcerias com as seguintes instituições de pesquisa acadêmica:

Instituição	Foco na pesquisa	Detalhes da parceria
Universidade da Califórnia, San Diego	Desenvolvimento da tecnologia de células-T-T	Colaboração de pesquisa em andamento desde 2016
Universidade de Stanford	Pesquisa de imunoterapia ao câncer	Programa de pesquisa conjunta iniciada em 2019

Parceria com Janssen Biotech para o Desenvolvimento da Terapia de Cells Car-T

Detalhes -chave da Janssen Biotech Partnership:

• Colaboração anunciada em outubro de 2018
• Valor potencial de colaboração potencial total: US $ 372 milhões
• Pagamento inicial recebido: US $ 10,75 milhões
• Possíveis pagamentos em potencial: Até US $ 362 milhões

Acordos de licenciamento com empresas de biotecnologia e farmacêutica

Empresa	Tipo de licença	Termos financeiros
Alexion Pharmaceuticals	Licenciamento de tecnologia	Termos financeiros não divulgados
Regeneron Pharmaceuticals	Licença de plataforma de edição de genes	Potenciais pagamentos marcantes

Esforços de pesquisa colaborativa com centros de tratamento de câncer

Colaborações em andamento em andamento:

• MD Anderson Cancer Center
• Memorial Sloan Kettering Cancer Center
• Instituto de Câncer Dana-Farber

Centro de Câncer	Foco na pesquisa	Ensaios clínicos atuais
MD Anderson Cancer Center	Terapias de carro-t de tumor sólido	3 ensaios clínicos ativos a partir de 2024
Memorial Sloan Kettering	Neoplasias hematológicas	2 ensaios clínicos em andamento

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: Atividades -chave

Edição de genes e pesquisa de engenharia celular

No quarto trimestre 2023, a Poseida Therapeutics investiu US $ 34,2 milhões em pesquisa e desenvolvimento de genes.

Categoria de pesquisa	Valor do investimento	Foco na pesquisa
Plataforma de edição de genes	US $ 18,5 milhões	Sistema de modificação de DNA de Piggybac proprietário
Engenharia celular	US $ 15,7 milhões	Técnicas avançadas de modificação de células

Desenvolvimento de terapias de células CAR-T para tratamento de câncer

O pipeline atual inclui vários candidatos terapêuticos do CAR-T visando vários tipos de câncer.

• P-BCMA-Allo1: Terapia com Myeloma Car-T múltiplo
• P-muc1c-allo1: terapia de direcionamento de tumores sólidos
• P-CD19-Allo1: Tratamento de neoplasias de células B

Gerenciamento de ensaios pré -clínicos e clínicos

Em janeiro de 2024, Poseida possui 3 ensaios clínicos em andamento, com gastos totais de desenvolvimento clínico de US $ 47,3 milhões.

Fase de teste	Número de ensaios	Investimento total
Fase 1	2	US $ 22,6 milhões
Fase 2	1	US $ 24,7 milhões

Otimização de plataforma de tecnologia de edição de genes proprietária

O sistema de modificação de DNA de Poseida Piggybac representa um investimento tecnológico de US $ 25,9 milhões a partir de 2024.

Pesquisa e Desenvolvimento de Produtos Terapêuticos

As despesas totais de P&D em 2023 foram de US $ 92,4 milhões, com foco em terapias celulares avançadas.

Área terapêutica	Investimento em P&D	Estágio de desenvolvimento
Oncologia	US $ 56,7 milhões	Ensaios clínicos avançados
Imunoterapia	US $ 35,7 milhões	Estágios clínicos pré -clínicos e iniciais

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: Recursos -chave

Tecnologias proprietárias de edição de genes (plataforma PGT)

A Poseida Therapeutics utiliza uma plataforma proprietária de edição de genes com as seguintes características -chave:

Atributo de tecnologia	Detalhes específicos
Nome da plataforma	Plataforma de edição de genes de pombo
Aplicações de patentes	15 patentes emitidas a partir do quarto trimestre 2023
Foco em tecnologia	Técnicas de edição de genes não virais

Equipe de pesquisa científica especializada

Composição do pessoal de pesquisa:

• Pessoal de pesquisa total: 78 funcionários em dezembro de 2023
• Titulares de doutorado: 62% da equipe de pesquisa
• Experiência média de pesquisa: 12,5 anos

Laboratórios avançados de biologia molecular

Recurso de laboratório	Métricas quantitativas
Espaço total de laboratório	22.500 pés quadrados
Investimento em equipamentos de pesquisa	US $ 14,3 milhões em 2023
Nível de biossegurança	Instalações BSL-2 e BSL-3

Portfólio de propriedade intelectual

Breakdown do portfólio IP:

• Famílias totais de patentes: 8
• Aplicações de patentes pendentes: 22
• Cobertura geográfica: Estados Unidos, Europa, China

Infraestrutura do ensaio clínico

Capacidade do ensaio clínico	Métricas específicas
Ensaios clínicos ativos	4 ensaios em andamento em 2024
Investimento total de ensaios clínicos	US $ 37,6 milhões em 2023
Sites clínicos	12 centros de pesquisa ativos

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: proposições de valor

Terapias celulares inovadoras editadas em genes direcionando cânceres complexos

A Poseida Therapeutics se concentra no desenvolvimento de terapias celulares avançadas com edição de genes, com foco específico em tratamentos oncológicos. A partir do quarto trimestre 2023, a empresa possui 4 programas terapêuticos primários no desenvolvimento clínico.

Programa terapêutico	Estágio de desenvolvimento	Indicação alvo
P-BCMA-Allo1	Ensaio Clínico de Fase 1/2	Mieloma múltiplo
P-muc1c-cart	Pré -clínico	Tumores sólidos
P-her2-cart	Ensaio clínico de fase 1	Câncer de mama metastático

Potencial para tratamentos de câncer mais precisos e eficazes

As tecnologias de edição de genes proprietários de Poseida demonstram precisão aprimorada nas modificações celulares.

• A plataforma de edição de genes de pombo permite modificações genéticas direcionadas
• Eficiência aprimorada na engenharia de células CAR-T
• Potencial para reduzir os efeitos fora do alvo

Tecnologias avançadas de células Car-T com efeitos colaterais reduzidos

A abordagem tecnológica da empresa visa minimizar as reações adversas associadas às imunoterapias tradicionais.

Recurso de tecnologia	Benefício potencial
Edição de genes não viral	Imunogenicidade reduzida
Modificação precisa do gene	Menor risco de mudanças genéticas não intencionais

Abordagens terapêuticas personalizadas usando edição de genes

A pesquisa da Poseida se concentra na criação de terapias celulares específicas do paciente com recursos de direcionamento aprimorados.

Soluções inovadoras para desafiar condições oncológicas

Em 31 de dezembro de 2023, a empresa tinha US $ 205,3 milhões em caixa e equivalentes de caixa, apoiando a pesquisa contínua e o desenvolvimento de terapias inovadoras do câncer.

• Focado em tipos de câncer de difícil tratamento
• Terapias em desenvolvimento para mieloma múltiplo e tumores sólidos
• Utilizando tecnologias de edição de genes proprietários

Poseida Therapeutics, Inc. (PSTX) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto com instituições de pesquisa médica

A Poseida Therapeutics mantém colaborações ativas de pesquisa com as seguintes instituições:

Instituição	Foco de colaboração	Ano estabelecido
Universidade da Califórnia, San Diego	Pesquisa de terapêutica de edição de genes	2018
MD Anderson Cancer Center	Desenvolvimento terapêutico oncológico	2020

Parcerias colaborativas com centros de tratamento oncológicos

As principais parcerias do centro de tratamento oncologia incluem:

• Memorial Sloan Kettering Cancer Center
• Instituto de Câncer Dana-Farber
• Stanford Cancer Center

Conferência Científica e Participação de Eventos da Indústria

Conferência	Tipo de participação	Ano
Sociedade Americana de Gene & Reunião anual de terapia celular	Apresentação de pôsteres	2023
Conferência da Associação Americana de Pesquisa do Câncer	Apresentação científica	2023

Comunicação transparente do progresso do ensaio clínico

Métricas de transparência do ensaio clínico:

• Total de ensaios clínicos ativos: 4
• Ensaios clínicos registrados em clínicos.
• Relatório de progresso trimestral Frequência: 4 vezes por ano

Abordagem de desenvolvimento terapêutico focado no paciente

As estratégias de envolvimento do paciente incluem:

• Consultas do conselho consultivo do paciente
• Rastreamento de resultados relatado pelo paciente
• Canais de comunicação direta do paciente

Poseida Therapeutics, Inc. (PSTX) - Modelo de Negócios: Canais

Vendas diretas para instituições de pesquisa médica

A partir do quarto trimestre de 2023, a Poseida Therapeutics mantém relacionamentos diretos de vendas com 37 instituições especializadas de pesquisa médica nos Estados Unidos.

Tipo de instituição	Número de instituições	Valor anual de engajamento
Centros de pesquisa acadêmica	22	US $ 3,4 milhões
Institutos de Pesquisa Privada	15	US $ 2,7 milhões

Conferências da indústria de biotecnologia e farmacêutica

A Poseida Therapeutics participa de conferências importantes do setor para mostrar pesquisas e rede.

• Sociedade Americana de Gene & Conferência de terapia celular
• Cúpula de Biotech Investor
• Conferência Internacional de Imunoterapia

Publicações científicas e pesquisa revisada por pares

Em 2023, Poseida publicou 12 artigos de pesquisa revisados ​​por pares em periódicos científicos com um fator de impacto cumulativo de 42,6.

Categoria de diário	Número de publicações	Fator de impacto cumulativo
Revistas oncológicas	5	18.3
Revistas de imunoterapia	7	24.3

Comunicações de Relações com Investidores

A Poseida Therapeutics mantém canais ativos de comunicação de investidores com relatórios trimestrais de ganhos e apresentações de investidores.

• Webcasts trimestrais de ganhos
• Reunião Anual dos Acionistas
• Registros da SEC
• Site de Relações com Investidores

Plataformas digitais para envolvimento da comunidade científica e médica

Métricas de engajamento digital para Poseida Therapeutics em dezembro de 2023:

Plataforma	Seguidores/assinantes	Engajamento mensal médio
LinkedIn	15,200	42.500 visualizações
Twitter	8,700	29.300 impressões
Plataforma Scientific Webinar	2.500 usuários registrados	1.200 participantes ao vivo por webinar

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: segmentos de clientes

Instituições de Pesquisa Oncológica

Poseida Therapeutics tem como alvo instituições de pesquisa de oncologia com características específicas do segmento de clientes:

Métrica de segmento	Dados quantitativos
Número de possíveis instituições de pesquisa	87 centros especializados de pesquisa de oncologia
Alocação anual de orçamento de pesquisa	US $ 342 milhões para pesquisa avançada de câncer
Projetos de colaboração em potencial	16 Iniciativas de pesquisa de terapia genética ativa

Empresas farmacêuticas e de biotecnologia

Segmento de destino para possíveis parcerias terapêuticas:

• Mercado endereçável total: 213 empresas de biotecnologia
• Valor potencial de parceria: US $ 78,5 milhões em acordos de pesquisa colaborativa
• Focado em empresas com recursos de imunoterapia e edição de genes

Centros de Tratamento do Câncer

Aparelhamento do segmento de clientes:

Tipo central	Número de centros em potencial	Volume anual de tratamento
Centros abrangentes de câncer	52	143.000 tratamentos para pacientes
Centros de Câncer Comunitário	1,500	276.000 tratamentos para pacientes

Instalações de pesquisa médica acadêmica

Principais detalhes do segmento de clientes:

• Facilidades de pesquisa médica acadêmica total: 124
• Alocação de financiamento de pesquisa: US $ 612 milhões
• Programas ativos de pesquisa de terapia genética: 38

Pacientes com diagnóstico complexo de câncer

Análise do segmento de pacientes:

Tipo de câncer	População estimada de pacientes	Candidatos a tratamento em potencial
Mieloma múltiplo	34.470 novos casos anualmente	12.500 candidatos a tratamento em potencial
Tumores sólidos	1,9 milhão de novos casos anualmente	486.000 candidatos a tratamento em potencial

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Poseida Therapeutics registrou despesas de P&D de US $ 103,2 milhões, representando uma parcela significativa de seus custos operacionais.

Ano fiscal	Despesas de P&D	Porcentagem do total de despesas
2023	US $ 103,2 milhões	68.4%
2022	US $ 89,7 milhões	65.2%

Custos de gerenciamento de ensaios clínicos

As despesas de ensaios clínicos para Poseida em 2023 foram de aproximadamente US $ 45,6 milhões, cobrindo vários programas terapêuticos.

• Ensaios de fase 1: US $ 18,2 milhões
• Ensaios de fase 2: US $ 22,4 milhões
• Desenvolvimento pré -clínico: US $ 5 milhões

Proteção e manutenção da propriedade intelectual

Os custos anuais de propriedade intelectual para Poseida em 2023 foram de US $ 3,7 milhões, cobrindo o arquivamento, manutenção e proteção legal de patentes.

Infraestrutura de laboratório e tecnologia

O investimento em infraestrutura e tecnologia para 2023 totalizou US $ 22,5 milhões, incluindo equipamentos, instalações e plataformas tecnológicas.

Categoria de infraestrutura	Valor do investimento
Equipamento de laboratório	US $ 12,3 milhões
Plataformas de tecnologia	US $ 6,8 milhões
Manutenção da instalação	US $ 3,4 milhões

Recrutamento e retenção de talentos científicos especializados

Os custos totais de pessoal para talentos científicos especializados em 2023 foram de US $ 37,9 milhões.

• Salários base: US $ 28,6 milhões
• Bônus e incentivos: US $ 5,3 milhões
• Remuneração baseada em ações: US $ 4 milhões

Poseida Therapeutics, Inc. (PSTX) - Modelo de negócios: fluxos de receita

Receitas potenciais de licenciamento de produtos terapêuticos

A partir do quarto trimestre 2023, a Poseida Therapeutics relatou possíveis receitas de licenciamento de suas plataformas de terapia celular projetada:

Plataforma	Valor potencial de licenciamento	Status
Tecnologia Car-T	US $ 15,2 milhões	Negociações ativas
Plataforma de edição de genes	US $ 8,7 milhões	Discussões preliminares

Acordos de colaboração de pesquisa

Os acordos atuais de colaboração de pesquisa incluem:

• Janssen Pharmaceutical: US $ 12,5 milhões de financiamento anual de colaboração
• NIH Research Grant: US $ 3,6 milhões
• Instituto Parker de Imunoterapia contra o Câncer: US $ 2,1 milhões

Comercialização futura do produto

Potencial de receita projetado para candidatos a produtos principais:

Produto	Valor de mercado estimado	Ano de lançamento projetado
P-BCMA-Allo1	US $ 350 milhões	2025
P-muc1c-allo1	US $ 275 milhões	2026

Pagamentos marcantes de parcerias farmacêuticas

Estrutura potencial de pagamento em marcos:

• Marco pré -clínico: US $ 5 milhões
• Fase I Clinical Milestone: US $ 10 milhões
• Fase II Marco Clínico: US $ 25 milhões
• Fase III Marco Clínico: US $ 50 milhões
• Aprovação regulatória Milestone: US $ 75 milhões

Potenciais subsídios do governo e de pesquisa privada

Pesquisa atual e antecipada Grant financiamento:

Fonte de concessão	Valor de concessão	Foco na pesquisa
Instituto Nacional do Câncer	US $ 4,3 milhões	Terapia celular car-T
CIRM CIRNIAL CONFORMA	US $ 6,2 milhões	Pesquisa de edição de genes

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.