Poseida Therapeutics, a Phase 1 biotech developing CAR T cell therapies for multiple myeloma and prostate cancer, withdrew its plans for an initial public offering on Monday. It originally filed in January 2019 with a proposed deal size of $115 million. On Monday morning, the company announced that it had raised $142 million in a Series C round led by Novartis.
The San Diego, CA-based company was founded in 2014 and had planned to list on the Nasdaq under the symbol PSTX. Citi, Credit Suisse and Wells Fargo Securities were set to be the joint bookrunners on the deal.
The article CAR T developer Poseida Therapeutics withdraws IPO after $142 million round led by Novartis originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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