JERUSALEM, July 20, 2017 /PRNewswire/ -- Gamida Cell, a leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases, announced today that it has been awarded a grant of $3.5 million from the Israel Innovation Authority (IIA) of the Israeli Ministry of Economy and Industry. The mission of the IIA is to encourage innovation and entrepreneurship in various industries, including science and technology, while stimulating economic growth.
The non-dilutive funding, combined with the $40 million financing round, will support Gamida Cell's ongoing research and development efforts, including its Phase 3 registration study of NiCord® for hematological malignancies, such as leukemia and lymphoma, its clinical trials of CordIn® for sickle cell disease and thalassemia, and its NK cell therapy for blood and solid cancers.
"We are very pleased with the Israeli government's ongoing contributions and support in helping to bring Gamida Cell's very important products to market," said Dr. Yael Margolin, Gamida Cell's president and CEO. "The grant provides additional funding for the development and commercialization of NiCord®, as well as our additional pipeline programs."
About Gamida Cell
Gamida Cell is a world 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. Gamida Cell's shareholders include Novartis, Clal Biotechnology Industries, Elbit Imaging, Israel Healthcare Ventures, Shavit Capital Fund, VMS Investment Group, Denali Ventures, Auriga Ventures and Israel Biotech Fund. For more information please visit www.gamida-cell.com.