Israeli biotech Gamida files for IPO

Oct 01, 2018

Jerusalem-headquartered cellular and immune therapies company Gamida Cell has filed for a $69 million initial public offering on Nasdaq.

Gamida Cell develops therapies for rare genetic conditions such as sickle cell anemia, and also for blood cancers and malignant tumors. The company is currently in phase 3 clinical trials for its lead product NiCord, a graft intended to act as a universal bone marrow transplant solution for patients who cannot find a matching donor.

After turning down the option to buy Gamida in 2016, Novartis continued to invest in the biotech, and now is the biggest shareholder, owning more than one-fifth of the company.

Gamida is looking to fund clinical trials of its drug candidates and help build out a manufacturing plant at Kiryat Gat, Israel.

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