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.