Poseida Therapeutics, a US-based startup developing drugs based on its genome engineering technologies, has closed a series A round in which life sciences company Malin Corporation will invest up to $30m.
The other investors in the round were not named. Poseida will use the capital to accelerate a therapeutics pipeline that includes gene therapies being developed to treat orphan liver diseases as well as autologous chimeric antigen receptor T-cell treatments for cancer.
Kelly Martin, chief executive of Ireland-based Malin, and Malin’s chief investment officer Adrian Howd will join the board of Poseida in conjunction with the funding.
Howd said: “Poseida offers Malin innovative science in the gene therapy, immuno-oncology and gene editing spaces, with utility across multiple therapeutic areas.
“Genome engineering offers a major advancement in therapy and this transaction reflects our belief that Poseida provides another best-in-class asset which will contribute to long term value for our shareholders.”