Switzerland's Novartis leads $142 mln funding in U.S. Poseida Therapeutics

Swiss pharmaceutical company Novartis International AG has led a Series C investment round in U.S.-based Poseida Therapeutics Inc., a clinical-stage biopharmaceutical company, with a $75 million equity funding.

The $142 million Series C round also had participation from new investors, Aisling Capital Management, Pentwater Capital Management, Perceptive Advisors among others.

Moreso, current investors, Malin Corporation plc., Longitude Capital, Vivo Capital and Boxer Capital, LLC also joined the investment round.

With the net proceeds from the financing, Poseida will broadly advance its current CAR-T programs and emerging pipeline programs, including gene therapies for orphan genetic diseases.