Gamida Cell, a Phase 3 biotech developing therapies for hematologic malignancies, announced terms for its IPO on Wednesday.
The Jerusalem, Israel-based company plans to raise $50 million by offering 3.6 million shares at a price range of $13 to $15. Insiders intend to purchase up to $30 million of the IPO (60% of the deal). At the midpoint of the proposed range, Gamida Cell would command a fully diluted market value of $300 million.
Gamida Cell was founded in 1998 and plans to list on the Nasdaq under the symbol GMDA. BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of October 22, 2018.
