Novartis buys another 2.5 percent in Israel’s Gamida Cell

Swiss drugmaker Novartis will invest up to an extra $15 million in Gamida Cell, an Israeli developer of stem cell therapies, Gamida said on Sunday. Novartis last year invested $35 million in the company for a 15 percent stake, in a deal that could reach $600 million if Novartis exercises a buyout option that expires in 2016. The $15 million investment will be used to advance Gamida Cell's clinical programs, including the development of NiCord, an experimental treatment for patients with high risk hematological malignancies, or blood cancers such as leukemia and lymphoma and sickle cell disease.

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Novartis buys another 2.5 percent in Israel’s Gamida Cell