Gamida Cell Ltd., a Jerusalem, Israel-based developer of cellular and immune therapies for the treatment of cancer and orphan genetic diseases, signed a $40m financing.
The round is being led by new investor Shavit Capital with participation from new investors VMS Investment Group and Israel Biotech Fund, as well as existing investors Novartis, Clal Biotechnology Industries (CBI) and Israel HealthCare Ventures (IHCV).
The company will use the funds to support the ongoing Phase 3 trial of its FDA Breakthrough Designated clinical-stage product, NiCord, to facilitate bone marrow transplantation, through late stage development and toward commercialization, by expanding its in-house manufacturing capacity, and the presence in the US, as well as continuing to develop additional pipeline products such as CordIn® for rare genetic diseases and NK cells as a treatment for cancer.
Led by said President and CEO Yael Margolin, Ph.D, Gamida Cell is a leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases. The company’s pipeline of products are in development to treat a wide range of conditions including cancer, genetic hematological diseases such as sickle cell disease and thalassemia, bone marrow failure syndromes such as aplastic anemia, genetic metabolic diseases and refractory autoimmune diseases.
The company is advancing NiCord, a stand-alone graft derived from a single umbilical cord blood unit which has been expanded in culture and enriched with stem and progenitor cells using its proprietary NAM technology.
NiCord leverages umbilical cord blood which does not need full tissue matching to the patient, and can therefore be available to practically all patients in need.
Gamida Cell is currently enrolling patients in an international, multi-center, Phase 3 registration study of NiCord as a graft for bone marrow transplantation for patients with blood cancer who do not have a rapidly available fully matched donor.