Israeli stem cell developer Gamida Cell has been awarded a grant of $3.5 million from the Israel Innovation Authority (formerly the Office of the Chief Scientist) of the Ministry of Economy and Industry. Gamida Cell is developing cellular and immune therapies for the treatment of cancer and orphan genetic diseases.
The non-dilutive funding, combined with last month's $40 million financing round, will support Gamida Cell’s ongoing R&D efforts, including its Phase 3 registration study of NiCord for hematological malignancies, such as leukemia and lymphoma, its clinical trials of CordIn for sickle cell disease and thalassemia, and its NK cell therapy for blood and solid cancers.
"We are very pleased with the Israeli government’s ongoing contributions and support in helping to bring Gamida Cell’s very important products to market," said Dr. Yael Margolin, Gamida Cell’s president and CEO. "The grant provides additional funding for the development and commercialization of NiCord®, as well as our additional pipeline programs."
Gamida Cell’s shareholders include: Novartis, Elbit Medical Imaging (Nasdaq: EMITF; TASE: EMIT), Clal Biotechnology Industries Ltd. (TASE: CBI), Israel Healthcare Ventures, Denali Ventures and Auriga Ventures.
Published by Globes [online], Israel business news - www.globes-online.com - on July 20, 2017
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