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Gamida Cell Ltd. Gets Hefty Buyout Offer From Unknown Global Pharma Co., Is It Novartis AG (NVS)?


3/18/2014 7:39:06 AM

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Sources inform ''Globes'' that Novartis AG (NYSE:NVS; LSE: NOV; SWX: NOVZ) is in advanced talks to acquire stem cell treatments developer Gamida-Cell Ltd. at a value of up to $600 million. Under the terms of the deal, Novartis will pay several hundred millions dollars in a down payment for the company, and several hundred millions dollars more in milestones for the company's products, for a total of up to $600 million. Clal Biotechnology Industries Ltd. (TASE: CBI) owns 22% of Gamida-Cell and Elbit Medical Technologies Ltd. (TASE:EMTC) owns 31%.

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