Israeli stem cell cancer therapy developer Gamida Cell Ltd. has filed a revised public registration statement with the US Securities and Exchange Commission (SEC) to raise $50-60 million on Nasdaq at a company valuation of $275 million "before money." Gamida Cell said that the company's shareholders, who include pharmaceutical giant Novartis (21%) will invest $30 million in the offering.
Other major shareholders include Clal Biotechnology Industries Ltd. (TASE: CBI), which holds 18.6% of Gamida Cell, Elbit Medical Technologies Ltd. (TASE: EMTC-M) holds 18%, Shavit Capital holds 13%, IHCV holds 11% and Smartmix Fund holds 10%.
BMO Capital Markets and RBC Capital Markets are serving as joint book-running managers for the proposed offering. Needham & Company and Oppenheimer & Co are acting as co-managers for the proposed offering.
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 currently enrolling patients in a Phase III clinical trial in 120 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.
To date, Gamida Cell has raised over $100 million including $40 million in June 2017 at a company value of $160 million. Gamida Cell's CEO is Julian Adams.
Published by Globes, Israel business news - en.globes.co.il - on October 17, 2018
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