Gamida-based biotech Gamida Cell is looking to raise $69m in an initial public offering on the Nasdaq to complete its phase III clinical trial for blood cancer treatment NiCord. Gamida, which counts Novartis as its biggest shareholder, is currently enrolling patients to determine if it can create an off-the-shelf treatment by applying nicotinamide-based cell expansion technology to cord blood. The company hopes the IPO will help it to deliver the trial's first top-line data in H1 2020. Funds raised in the IPO will also go towards the build-out of a manufacturing plant.
Israel-based biotech Gamida Cell is looking to raise $69m in an initial public offering on the Nasdaq to complete its phase III clinical trial for blood cancer treatment NiCord. Gamida, which counts Novartis as its biggest shareholder, is currently enrolling patients to determine if it can create an off-the-shelf treatment by applying nicotinamide-based cell expansion technology to cord blood. The company hopes the IPO will help it to deliver the trial's first top-line data in H1 2020. Funds raised in the IPO will also go towards the build-out of a manufacturing plant.