Gamida Cell Announces $4.4 Million Grant from the Israeli Government

Non-dilutive funding will support further development of NiCord® for blood cancers, CordIn® for rare genetic diseases and NK cells for immune therapy of cancer

May 23, 2016, 07:00 ET from Gamida Cell

JERUSALEM, May 23, 2016 /PRNewswire/ --

Gamida Cell, a leader in cellular and immune therapies for the treatment of cancer and orphan genetic diseases, announced today it has been awarded a grant of up to $4.4 million from the Israel Innovation Authority (formerly the Office of the Chief Scientist) of the Israeli Ministry of Economy and Industry. The mission of the Israel Innovation Authority is to encourage innovation and entrepreneurship in various industries, including science and technology, while stimulating economic growth.

The non-dilutive funding will support Gamida Cell's ongoing research and development efforts including its Phase 3 registration study of NiCord® for hematological malignancies (blood cancers like leukemia and lymphoma), and its clinical trials of CordIn® for sickle cell disease and thalassemia and NK cells as a potential immune therapy for cancer.

"We are very pleased to have received this grant and know it will contribute to our broad clinical development plans for this year, which include the launch of a registration study for our lead program and early clinical stage work on our immuno-oncology candidate. The grant announced today is the largest amount we have been rewarded to date. We feel it is a clear demonstration of the Innovation Authority's ongoing confidence and trust in our important mission," said Dr. Yael Margolin, Gamida Cell's president and CEO.

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 current shareholders include: Novartis, Elbit Imaging, Clal Biotechnology Industries, Israel Healthcare Venture, Teva Pharmaceutical Industries, Denali Ventures and Auriga Ventures.   For more information please visit http://www.gamida-cell.com.

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SOURCE Gamida Cell