The company is developing therapeutics derived from umbilical stem cells for bone marrow transplantation and regenerative medicine.
Gamida Cell Ltd. will raise $10 million in an internal round from its shareholders, including an owners loan of $4 million. The company is developing therapeutics derived from umbilical stem cells for bone marrow transplantation and regenerative medicine.
Elbit Medical Technologies Ltd. (TASE:EMTC), which owns 31.6% of Gamida Cell, will invest $3 million in the round. Clal Biotechnology Industries Ltd. (TASE: CBI), which owns 20%, will reportedly also invest in the round. Other shareholders include Israel Healthcare Ventures Ltd.
Gamida Cell has completed patient recruitment for a Phase II/III clinical trial of its blood cancer treatment, and is due to announce the results later this year. If the trial is successful, the company may launch the product in 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on March 4, 2012
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