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Gamida Cell Ltd. (Nasdaq: GMDA), an advanced cell therapy company committed to developing and commercializing cures for blood cancers and serious hematologic diseases, today announced the sale of $75 million of 5.875% exchangeable senior notes due in 2026 to certain funds managed by Highbridge Capital Management, LLC.

The proceeds from this sale of these notes, together with the net proceeds of Gamida Cell Ltd. ’s sale of $75 million of ordinary shares in December 2020, are expected to provide Gamida Cell Ltd. with sufficient liquidity to fund the company’s operations into the second half of 2022. These capital infusions will be used to support manufacturing, regulatory and commercial development activities for Omidubicel and to further the preclinical and clinical development of GDA-201.

“Securing this financing from a respected industry investor strengthens Gamida Cell Ltd ’s financials at a pivotal time for our company. It enables us to capitalize on positive Phase 3 clinical results generated from Omidubicel and to fund the key activities required to bring this therapy forward to patients,” said Julian Adams, CEO of Gamida Cell Ltd. “Moreover, these additional funds help us to advance clinical development of GDA-201 by enabling us to file an IND for this product candidate.”

“We are pleased to be able to provide this financing to Gamida Cell Ltd, to meaningfully advance their vision of developing cures for blood cancers and serious hematological diseases,” commented Jonathan Segal, Co-Chief Investment Officer of Highbridge Capital Management. “Following our extensive due diligence, we are enthusiastic about the commercial potential for Omidubicel. We are also excited about the potential for GDA-201 to be an important therapy and leader in the emerging field of NK cell therapy. We look forward to continuing to work collaboratively with Gamida Cell Ltd. ’s management team and board” added Jason Hempel, Co-Chief Investment Officer of Highbridge Capital Management.

The notes were sold at 100% of the principal amount thereof, are senior unsecured obligations of Gamida Cell Ltd and its wholly owned subsidiary and will accrue interest at a rate of 5.875% per year. Subject to certain limitations, the holders of the notes can elect to exchange the notes for Gamida Cell Ltd ’s ordinary shares at an initial exchange rate of 56.3063 shares per $1,000 principal amount of notes (equivalent to an exchange price of $17.76 per share). The initial exchange price of the notes represents a premium of approximately 50% over the closing price of Gamida Cell Ltd’s ordinary shares on February 12, 2021 and a premium of approximately 122% over the public offering price of Gamida Cell’s shares on December 17, 2020.

Gamida Cell Ltd may redeem all or a portion of the notes for cash, at its option, at 100% of the principal amount plus accrued and unpaid interest on the notes to be redeemed if the closing price of its ordinary shares has been at least 130% of the exchange price for at least 20 trading days during any 30 consecutive trading day period.

About Omidubicel

Omidubicel is an advanced cell therapy under development as a potential life-saving allogeneic hematopoietic stem cell (bone marrow) transplant solution for patients with hematologic malignancies (blood cancers), for which it has been granted Breakthrough Status by the US Food and Drug Administration. (Hematopoietic stem cells are immature cells that can develop into all types of blood cells, including white blood cells, red blood cells, and platelets. are found in the peripheral blood and the bone marrow. Allogeneic denoting, relating to, or involving tissues or cells that are genetically dissimilar and hence immunologically incompatible, although from individuals of the same species).

In both Phase 1/2 and Phase 3 clinical studies (NCT01816230, NCT02730299), Omidubicel demonstrated rapid and durable time to engraftment and was generally well tolerated.12 Based on the recently completed Phase 3 clinical study, in which omidubicel achieved statistically significant and clinical meaningful results in the prespecified primary and secondary endpoints, Gamida Cell Ltd plans to submit the full Biologics License Application (BLA) to the FDA in the second half of 2021. Omidubicel is also being evaluated in a Phase 1/2 clinical study in patients with severe aplastic anemia (NCT03173937). The aplastic anemia investigational new drug application is currently filed with the FDA under the brand name CordIn®, which is the same investigational development candidate as omidubicel. For more information on clinical trials of omidubicel, please visit

About GDA-201

Gamida Cell Ltd applied the capabilities of its NAM-based cell expansion technology to develop GDA-201, an innate natural killer (NK) cell immunotherapy for the treatment of hematologic and solid tumors in combination with standard of care antibody therapies. GDA-201 addresses key limitations of NK cells by increasing the cytotoxicity and in vivo retention and proliferation in the bone marrow and lymphoid organs of NK cells expanded in culture. GDA-201 is currently in Phase 1 development through an investigator-sponsored study in patients with refractory non-Hodgkin lymphoma and multiple myeloma.3 For more information on the clinical study of GDA-201, please visit

About Gamida Cell Ltd

Gamida Cell Ltd is an advanced cell therapy company committed to developing and commercializing cures for patients with blood cancers and serious blood diseases. We harness our cell expansion platform to create therapies with the potential to redefine standards of care in areas of serious medical need. For additional information, please visit or follow Gamida Cell Ltd on LinkedIn or Twitter at @GamidaCellTx.

Source: Business Wire February 16, 2021

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