Poseida Therapeutics Announces Leadership Transition

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Oct 09, 2023, 16:30 ET

Mark Gergen to assume role of Executive Chairman of the Board of Directors of Poseida; Kristin Yarema, Ph.D., currently President, Cell Therapy, to be appointed President and CEO

SAN DIEGO, Oct. 9, 2023 /PRNewswire/ -- Poseida Therapeutics, Inc. (Nasdaq: PSTX), a clinical-stage cell and gene therapy company advancing a new class of treatments for patients with cancer and rare diseases, today announced the appointment of Mark Gergen as Executive Chairman and the transition of Kristin Yarema, Ph.D., currently President, Cell Therapy, to the role of President and Chief Executive Officer, each expected to be effective January 1, 2024.

"I am proud of the progress Poseida has made since I joined the company almost six years ago. It has been an honor to work with the Poseida team to make significant advances in our capabilities and position," said Mark Gergen, current Chief Executive Officer of Poseida Therapeutics. "With this leadership transition, our goal is to set the Company up for success in its next phase of growth as we continue to redefine cell and gene therapy."

A 30-year biotechnology industry veteran, Mr. Gergen joined Poseida in February 2018. He has served as Chief Executive Officer of the Company since February 2022 and was named Chairman of the Board in February 2023. Previously, Mr. Gergen served as President and Chief Business Officer (CBO), after initially joining the Company as Chief Financial Officer and CBO. Under Mr. Gergen's leadership, the Company has executed a number of strategic transactions, including a research collaboration with Takeda focused on non-viral gene therapy announced in October 2021 and later terminated due to a strategic change in direction at Takeda, a global collaboration with Roche focused on allogeneic cell therapies in hematological malignancies announced in July 2022 and a $50 million strategic investment from Astellas Pharma in August 2023.

"With the Company on a strong foundation, the time is right to transition the role of CEO to Kristin Yarema – a proven leader in allogeneic cell therapy with deep experience across the entire spectrum of drug discovery, development, and commercialization spanning multiple disease areas," Mr. Gergen continued. "As I move into the role of Executive Chairman, I look forward to continuing to lead the Board of Directors and focus on additional strategic opportunities for the business. I'm excited to work closely with Kristin as she assumes the CEO role and continue to work with Brent Warner, President Gene Therapy, on strategically advancing our gene therapy pipeline."

Now in her third decade in the biopharmaceutical industry, Dr. Yarema joined the Company as President of Cell Therapy in April 2023, bringing extensive biopharmaceutical experience in oncology and allogeneic T cell immunotherapy. Prior to Poseida she served as Chief Commercial Officer at Atara Biotherapeutics where she led the commercialization of EBVALLO™️, which became the world's first marketed allogeneic T cell therapy after receiving regulatory approval in Europe for the treatment of a rare lymphoma. Previously, Dr. Yarema held a series of U.S. and global commercial leadership roles at Amgen, including most recently Vice President & Therapeutic Area Head for Global Product Strategy & Commercial Innovation in Hematology-Oncology. Earlier in her career, Dr. Yarema worked at Novartis and McKinsey & Company. Dr. Yarema holds a Ph.D. in Chemical Engineering from University of California, Berkeley and is a graduate of Stanford University, where she earned dual bachelor's degrees in Chemical Engineering and English. She also serves on the boards of directors of the Alliance for Regenerative Medicine and the Celiac Disease Foundation.

"It will be a great honor to lead Poseida as President and CEO, and I want to thank Mark for both his continued partnership and exceptional leadership in building the Company into what it is today," said Dr. Yarema. "It is a privilege to work alongside the outstanding employees at Poseida, and with our strategic partners, as we focus on unlocking the promise of cell and gene therapy for patients with serious diseases. I am highly excited about our powerful, proprietary technologies and I look forward to boldly developing advanced, novel medicines with the potential to transform patient outcomes in cancer and rare genetic diseases."

About Poseida Therapeutics, Inc.

Poseida Therapeutics is a clinical-stage biopharmaceutical company advancing differentiated cell and gene therapies with the capacity to cure certain cancers and rare diseases. The Company's pipeline includes allogeneic CAR-T cell therapy product candidates for both solid and liquid tumors as well as in vivo gene therapy product candidates that address patient populations with high unmet medical need. The Company's approach to cell and gene therapies is based on its proprietary genetic editing platforms, including its non-viral piggyBac® DNA Delivery System, Cas-CLOVER™ Site-Specific Gene Editing System and nanoparticle and hybrid gene delivery technologies as well as in-house cell therapy manufacturing. The Company has formed a global strategic collaboration with Roche to unlock the promise of cell therapies for patients with hematological malignancies. Learn more at www.poseida.com and connect with us on X and LinkedIn.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, expected plans with respect to clinical trials, including timing of regulatory submissions and approvals and clinical data updates; anticipated timelines and milestones with respect to the Company's development programs and manufacturing activities and capabilities; the potential capabilities and benefits of the Company's technology platforms and product candidates; the quotes from Mr. Gergen and Dr. Yarema; future contributions of the Company's directors and executive officers; the timing of the expected leadership transition; and the Company's plans and strategy with respect to developing its technologies and product candidates. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the Company's reliance on third parties for various aspects of its business; risks and uncertainties associated with development and regulatory approval of novel product candidates in the biopharmaceutical industry; the Company's ability to retain key scientific or management personnel; and the other risks described in the Company's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

SOURCE Poseida Therapeutics, Inc.