|By PR Newswire||
|August 19, 2014 01:55 AM EDT||
JERUSALEM, August 19, 2014 /PRNewswire/ --
Gamida Cell, a world leader in stem cell expansion technologies and therapeutic products, announced today that it has signed an investment and option agreement with Novartis Pharma AG ("Novartis"). According to the agreement, Novartis will invest $35 million in Gamida Cell and in return will receive 15% equity and an option to fully acquire Gamida Cell. The option is exercisable for a limited period of time following achievement of certain milestones connected to the development of NiCord®, anticipated to be met during 2015. Completion of the transaction is subject to customary closing conditions.
Upon exercising the Option, Novartis would pay the other shareholders in Gamida Cell (the Sellers) cash payments of approximately $165 million, in accordance with the terms of the Agreement. In addition, the Sellers will be entitled to potential future payments which can reach a total of $435 million, depending on certain development and regulatory milestones and on sales of Gamida Cell's products.
Gamida Cell president and CEO Dr. Yael Margolin said, "The investment and option agreement announced today demonstrates Novartis' belief in the potential of Gamida Cell's platform technology, product pipeline and team. Novartis is a leading pharmaceutical company with a declared commitment to further expand and develop its pipeline of cell therapy products. This, combined with the breadth of its resources and experience, positions Novartis perfectly for an alliance with Gamida Cell."
Gamida Cell chairman of the board and Clal Biotechnology Industries' CEO Mr. Ruben Krupik said, "Every company experiences successes and challenges during the course of its evolution. It is the ones with particularly brilliant scientists and astute management teams that are able to successfully persevere to bring good products to the market. We believe that Gamida Cell is in this category. The investment and option agreement with Novartis could bring the company a significant step closer to this important goal."
Gamida Cell is currently engaged in a Phase I/II study of NiCord® as an investigational therapeutic treatment for hematological malignancies such as leukemia and lymphoma. In this study NiCord® is being used as the sole stem cell source. NiCord® is derived from a single cord blood unit and expanded and enriched with stem cells using Gamida Cell's proprietary NAM technology.
In a standard individual cord blood unit, the limited number of stem cells compromises successful engraftment in an adult patient. To circumvent this obstacle, physicians currently provide patients with two cord blood units to achieve therapeutically meaningful cell numbers. The positive clinical results of a Phase I/II clinical study using a double cord protocol, NiCord® (the expanded cord blood unit) along with an un-manipulated unit, showed early and durable engraftment with the un-manipulated unit disappearing in most of the patients.
These results were the basis for studying NiCord® as a 'single' expanded unit without co-infusion of a second un-manipulated cord. NiCord® may provide a single unit of expanded cord blood with clinical results comparable to those seen in a double cord setting, thus introducing a paradigm shift in treatment practice. The current Phase I/II single cord study of NiCord®, the first of its kind, is soon to be followed by a Phase III study planned to begin at the end of 2015.
Additionally, recruitment continues for Gamida Cell's Phase I/II study of NiCord for pediatric sickle cell disease. SCD affects 90,000 to 100,000 in the US alone. Symptoms range in type and severity. However, SCD can be fatal. To date, the only known cure for SCD is stem cell transplantation from a family related matched donor.
About Gamida Cell
Gamida Cell is a world leader in stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine. The company's pipeline of stem cell therapy products are in development to treat a wide range of conditions including blood cancers, solid tumors, non-malignant hematological diseases such as sickle cell disease and thalassemia, neutropenia and acute radiation syndrome, autoimmune diseases and genetic metabolic diseases as well as conditions that can be helped by regenerative medicine. Gamida Cell's therapeutic candidates contain populations of adult stem cells, selected from non-controversial sources such as umbilical cord blood, bone marrow and peripheral blood, which are expanded in culture. Gamida Cell's current shareholders include: Elbit Imaging (NASDAQ: EMITF), Clal Biotechnology Industries (TASE: CBI), Israel Healthcare Venture, Teva Pharmaceutical Industries (NASDAQ: TEVA), Amgen (NASDAQ: AMGN), Denali Ventures and Auriga Ventures. For more information please visit http://www.gamida-cell.com.
Forward looking statement
All forward-looking statements in this announcement are based on information available to Gamida Cell as of the date hereof and Gamida Cell cannot guarantee such statements will materialize. Gamida Cell does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.
SOURCE Gamida Cell
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 07:45 PM EST Reads: 2,027
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
Dec. 27, 2014 07:00 PM EST Reads: 2,233
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
Dec. 27, 2014 04:00 PM EST Reads: 1,892
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will w...
Dec. 27, 2014 02:00 PM EST Reads: 1,984
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 01:30 PM EST Reads: 1,860
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
Dec. 27, 2014 12:45 PM EST Reads: 1,735
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Dec. 27, 2014 12:30 PM EST Reads: 2,474
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Dec. 27, 2014 12:30 PM EST Reads: 1,965
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Dec. 27, 2014 12:00 PM EST Reads: 2,713
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Dec. 27, 2014 12:00 PM EST Reads: 1,809
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
Dec. 27, 2014 12:00 PM EST Reads: 2,389
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
Dec. 27, 2014 11:30 AM EST Reads: 2,541
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 11:00 AM EST Reads: 1,963
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Dec. 27, 2014 11:00 AM EST Reads: 7,186
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
Dec. 27, 2014 11:00 AM EST Reads: 2,158