Gamida Cell raising $30m in Nasdaq secondary offering

Nasdaq Photo: Reuters

The Israeli clinical stage biopharmaceutical company leveraging its proprietary technology to develop cell therapies.

Israeli cell and immune therapy technology developer Gamida Cell (Nasdaq: GMDA) has announced that it is raising $30 million in a secondary offering on Nasdaq.

The Jerusalem-based company is offering $30 million of its ordinary shares (4.04 million shares). Gamida Cell will also grant the underwriters a 30-day option to purchase up to $4.5 million of additional ordinary shares (up to 606,000 shares) at the public offering price, less underwriting discounts and commissions.

RBC Capital Markets and JMP Securities are acting as joint book-running managers for this offering. Oppenheimer & Co. is acting as lead manager for this offering.

Gamida Cell is a portfolio company of two companies traded on the TASE: Clal Biotechnology Industries Ltd. (TASE: CBI) (12%) and Elbit Medical Technologies Ltd. (TASE: EMTC) (11%). Gamida Cell raised $50 million last October in its Nasdaq IPO at a company value of $215 million.

Gamida Cell is a clinical stage biopharmaceutical company leveraging its proprietary technology to develop cell therapies that are designed to cure cancer and rare, serious hematologic diseases. Gamida Cell leverages its nicotinamide-, or NAM-, based cell expansion technology to develop a pipeline of products designed to address the limitations of cell therapies. Gamida Cell's most advanced product candidate, NiCord, is a NAM-expanded cord blood cell therapy which has the potential to serve as a universal curative stem cell graft for patients who need a hematopoietic stem cell transplant, or HSCT.

Gamida Cell is in the later stages of a Phase III clinical trial of patients with various hematologic malignancies, including high risk leukemias such as acute myeloid leukemia, or AML, acute lymphocytic leukemia, or ALL, chronic myeloid leukemia, or CML, myelodysplastic syndrome, or MDS and lymphomas.

The company has signed an agreement with Swiss company Lonza, which will likely manufacture the product if it reaches the marketing stage.

Published by Globes, Israel business news - en.globes.co.il - on June 25, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Nasdaq Photo: Reuters
Nasdaq Photo: Reuters
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