Published On: Tue, Mar 18th, 2014

Novartis In Advanced Talks to Acquire Israeli Stem Cell Developer Gamida-Cell

The stem cell developer could be acquired at a company value of hundreds of millions of dollars.

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Stem cell therapies developer Gamida-Cell Ltd. has received an acquisition offer from an international pharma company,  Novartis AG (NYSE:NVS; LSE: NOV; SWX: NOVZ).

Elbit Medical Technologies, which has a 30.8 percent share in Gamida, said in a notification to the Tel Aviv Stock Exchange (TASE) by Clal Biotechnology Industries Ltd. (TASE: CBI) that Gamida-Cell will be acquired at a potential company value of several hundred million dollars in a down payment, milestone payments, and royalties on future sales of commercialized products.

 

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