October 12, 2015 | Novartis invested an additional $15 million in Gamida Cell, a Jerusalem-based medical company that develops immune treatments for cancer and orphan genetic diseases. Gamida will use the investment to begin a Phase III clinical trial of NiCord, an experimental treatment for patients with blood cancer. This round of funding follows Novartis’ initial investment of $35 million in August 2014, in which the Swiss pharmaceutical received 15 percent equity interest in the startup. Novartis had reportedly been in talks to buy the company for $600 million. However, under the terms of this current agreement, Novartis does not have options to purchase Gamida Cell.
Subscribe to NoCamels weekly newsletter and get our top stories
Related posts

Israel Invests Millions To Help AI Comprehend Hebrew, Arabic
September 21, 2023

Cybersecurity Startup Cato Raises $238M With $3B Valuation
September 21, 2023

Israel, UK Ink Deal For Greater Innovation Collaboration
September 21, 2023

ALS Drug Receives Patent In Israel, Europe, Japan
September 20, 2023
Facebook comments