With the search for a partner for an approved stem cell therapy coming up short, cash-strapped Gamida Cell has accepted that the only way to remain a going concern is to allow its principal lender to acquire the company. The agreement will see Highbridge Capital Management convert $75 million of existing unsecured convertible senior notes into equity in the company as well as supply $30 million of new capital to Gamida. These combined funds should allow the biotech to continue to commercialize its stem cell therapy Omisirge, which was FDA approved a year ago. But in return, Nasdaq-listed Gamida will have to become a private company wholly owned by Highbridge, the biotech explained in a March 27 release.
Read the full article: Unable to Find a Partner for Stem Cell Therapy, Gamida Accepts Sale to Investment Firm to Survive //
Source: https://www.fiercebiotech.com/biotech/unable-find-partner-stem-cell-therapy-gamida-accepts-sale-investment-firm-survive