Novartis in talks to buy stem-cell firm for up to $600M


Novartis (NVS) is in advanced negotiations to acquire Israeli stem-cell treatments developer Gamida-Cell for up to $600M, Israel's Globes reports.

Novartis would pay hundreds of millions of dollars up front and the rest in milestones for the company, which develops therapies for a variety of conditions, including blood cancers and solid tumors.

Gamida shareholders Elbit Medical and Clal Biotechnology confirmed that a sizable offer had been made, but didn't disclose the suitor. Another investor is Teva (TEVA).

While talks are advanced, Gamida hasn't ruled out the prospect of an IPO in New York instead, although the firm's valuation in a listing would be lower.

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