Wednesday, 18 September 2019

Israeli biotech firm files for IPO

01 October 2018 | News

The firm plans to use proceeds to fund clinical trials of its drug candidates and help build out a manufacturing plant at Kiryat Gat, Israel.

Image credit- moneyindia.com

Image credit- moneyindia.com

Israeli biotech drug developer Gamida Cell Ltd. has announced that it is going public to help fund clinical trials and build out a manufacturing plant.

The Jerusalem-based company plans to raise up to $69 million in an initial public offering (IPO), but initial amounts are often used as placeholders and are subject to revisions. The company, which has not reported revenue, booked a loss of $19.1 million in 2017, compared with a $22.7 million loss in 2016.

The firm plans to use proceeds to fund clinical trials of its drug candidates and help build out a manufacturing plant at Kiryat Gat, Israel. The company's most advanced drug candidate is NiCord, which is in a late-stage clinical trial for the treatment of leukemia.

Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account



Podcast

 

Survey Box

Is Pharma innovation getting inhibited in APAC?

× Please select an option to participate in the poll.
Processing...   View poll results   More polls

× You have successfully cast your vote.
{{ optionDetail.option }}{{ optionDetail.percentage }}%
{{ optionDetail.percentage }}% Complete
More polls