Gamida Cell raises $60m at 24% discount

Julian Adams  / Photo: Lior Mizrahi
Julian Adams / Photo: Lior Mizrahi

The funds will help launch the company's first product omidubicel, for the treatment of high-risk hematologic malignancies.

Israeli cell therapy company Gamida Cell Ltd. (Nasdaq: GMDA) has raised $60 million to fund the launching of its first product omidubicel for the treatment of high-risk hematologic malignancies. Last week the company, which is developing cures for blood cancers and serious blood diseases, announced positive Phase III results for Omnidubicel and it is confident that it will receive marketing approval for the treatment.

Gamida Cell's shareholders before the offering were: Novartis (13%), Access Medical (14%), Clal Biotechnology Industries Ltd. (TASE: CBI) (9%), Elbit Medical Technologies (TASE: EMTC) (8%) and Fidelity Fund (9%).

In the offering, Gamida Cell issued 13,333,334 ordinary shares at a public offering price of $4.50 per share, a 24% discount on the share price yesterday. Gamida Cell has also granted the underwriters a 30-day option to purchase up to an additional 2,000,000 ordinary shares at the public offering price, less the underwriting discounts and commissions.

Gamida Cell will also use the funds for the continued clinical development of its product candidates, the expansion of its commercial manufacturing capabilities and general corporate purposes.

Gamida Cell's CEO is Julian Adams.

Piper Sandler & Co. and Evercore Group L.L.C. acted as joint book-running managers for the offering and JMP Securities LLC acted as lead manager.

Published by Globes, Israel business news - en.globes.co.il - on May 19, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Julian Adams  / Photo: Lior Mizrahi
Julian Adams / Photo: Lior Mizrahi
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018