Novartis in constant evolution: new large investment in startup

Israel-based Gamida Cell Ltd is ready for Nasdaq IPO. The young biotech has developed novel, nicotinamide-based cell therapies, the most relevant of which is NiCord, for patients with serious hematologic diseases that need hematopoietic stem cell transplant (HSCT). NiCord is about to be tested in a Phase III clinical trial with 120 patients. Gamida expects to raise at least $50-60m from the IPO, being valued at $275m. Gamida’s main investor is Novartis (21%), that will invest at least $30m in the IPO and is showing great interest in the sector. Other important investors are Clal Biotechnology Industries, with 18.6% of shares, Elbit Medical Technologies Ltd. (18%), Shavit Capital (13%) and Smartmix Fund (10%).

(Source: Gamida)