Israeli stem cell developer Gamida Cell has been awarded a grant of up to $4.4 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 will support Gamida Cell’s ongoing research and development efforts including its Phase 3 registration study of NiCord® for hematological malignancies (blood cancers like leukemia and lymphoma), and its clinical trials of CordIn® for sickle cell disease and thalassemia and NK cells as a potential immune therapy for cancer.
Gamida Cell president and CEO dr. Yael Margolin said, “We are very pleased to have received this grant and know it will contribute to our broad clinical development plans for this year, which include the launch of a registration study for our lead program and early clinical stage work on our immuno-oncology candidate. The grant announced today is the largest amount we have been rewarded to date. We feel it is a clear demonstration of the Innovation Authority’s ongoing confidence and trust in our important mission."
Gamida Cell’s current shareholders include: Novartis, Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT), Clal Biotechnology Industries Ltd. (TASE: CBI), Israel Healthcare Venture, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), Denali Ventures and Auriga Ventures.
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2016
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