Novartis buying Gamida stake, gains option to acquire

Novartis AG (NYSE:NVS; SIX:NOVN) will pay $35 million to acquire a 15% equity stake in Gamida Cell Ltd. (Jerusalem, Israel) and an option to acquire the Israeli biotech for $165 million in cash and up to $435 million in milestones. Novartis' option is exercisable following undisclosed milestones related to Gamida's NiCord, which Gamida expects to meet next year. NiCord comprises ex vivo nicotinamide-expanded hematopoietic stem and progenitor cells that are derived from umbilical cord blood. The product is in Phase I/II testing to treat hematologic malignancies, with a Phase III trial slated to start by the end of 2015. ...