NVS said to be in talks for Gamida takeout
Novartis AG (NYSE:NVS; SIX:NOVN) and Gamida Cell Ltd. (Jerusalem, Israel) both declined to comment on rumors in the Israeli media that Novartis is in "advanced talks" to acquire the Israeli biotech for up to $600 million. Gamida Cell shareholders Elbit Medical Technologies Ltd. and Clal Biotechnology Industries Ltd. (Tel Aviv:CBI) separately said a global pharma made a non-binding proposal to acquire Gamida Cell for "up to several hundred million dollars."
Gamida Cell is developing StemEx -- ex vivo expanded cord blood stem/progenitor cells in combination with non-expanded cells from the same cord blood unit -- for hematologic malignancies. In July 2013, Gamida Cell said FDA advised the company to conduct an additional Phase III trial to support a BLA submission. ...