Teva forms JV with Gamida-Cell
Teva Pharmaceutical Industries has exercised an option under a previous agreement to enter into a joint venture with Gamida-Cell, in which the latter group's largest single shareholder, the fellow Israel-based Elscint, holds 29.2% on a fully-diluted basis.
The purpose of the JV is to develop and commercialize StemEx, which combines ex vivo expanded cord blood stem/progenitor cells with non-expanded cells from the same unit, for the treatment of leukemia and lymphoma. Teva will invest, under certain conditions, up to $25.0 million in the JV, according to Elscint.
Gamida-Cell is a leader in the expansion of hematopoietic stem-cell therapeutics in clinical development for cancer and autoimmune diseases.
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