Poseida Therapeutics Inc., a privately-held human therapeutics spinoff of Transposagen Biopharmaceuticals Inc., announced it has begun drug development operations at its new location at Johnson & Johnson Innovation, JLABS in San Diego.

The drug development and license agreement between Transposagen and Janssen, which was announced in November 2014, has been transferred to Poseida.

The three-year drug development partnership and license agreement will focus on developing at least two allogeneic CAR-T product candidates. Poseida will receive milestone payments of up to $292 million per product candidate and tiered royalty payments. Both companies will work together on preclinical development and Janssen will be responsible for manufacturing and commercialization, according to a recent news release.

The 40,000-square-foot San Diego JLABS facility features core research labs hosting specialized capital equipment, shared administrative areas and individual bench, wet lab and office modules. JLABS is a "no strings attached" model and the agreement for space does not grant Janssen any ownership stake in Poseida.