Gamida Basket raised 75 million d worth one billion d – the capital market

The pharmaceutical company Dwarf Basket, held (5%) by

Clal Biotechno
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and

Elbit Medical Techn
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(3%) and traded on NASDAQ (NYSE: GMDA) reports that it raised $ 75 million through a promissory note converted from Highbridge Capital. The deal reflects a dwarf value of about $ 1 billion.

The raising will be made at a price of $ 17.76 per share of a dwarf, a 50% premium to the price of the latest closing on Nasdaq. This is a loan converted into shares taken by a dwarf from Hybrid, for a period of five years and an annual interest rate of 5.875%. The promissory note was in cash and the closing price would exceed 130% of the conversion price over a period to be defined by the parties.

The proceeds from the cash fund raising are expected to be enough for a dwarf by the second half of 2022, thus bringing the company to the commercialization stage without the need for further raising, according to its assessment at this stage. The funds are intended to support the production system of Gamida Sal and in this context to establish a plant in Kiryat Gat, as well as to prepare for the commercial launch of the omidubicel drug for the treatment of malignant hematologic diseases requiring bone marrow transplantation, and to fund the further preclinical and clinical development of 201-GDA non and in multiple myeloma.

Dwarf recently reported success in a Phase 3 clinical trial of omidubicel therapy. Based on the results of the experiment, Dwarf estimates that in the second half of the year she will submit an application for approval of treatment to the FDA. At the same time, the development of the 201 GDA is in a Phase 1 clinical trial.