Highbridge Capital Management, based in New York City, announced on March 27 that it entered into an agreement to acquire Gamida Cell, an Israeli biotechnology company.
The agreement will see Highbridge Capital Management convert $75 million of existing unsecured convertible senior notes into equity in Gamida as well as supply $30 million of new capital to Gamida.
Gamida Cell is a cell therapy pioneer working to turn cells into powerful therapeutics. Its proprietary nicotinamide technology expands the number of cells while maintaining their intrinsic properties to create potentially curative cell therapy products and candidates for patients with cancer. Gamida entered 2024 with $46.6 million on hand in cash and equivalents, according to the press release.
Highbridge Capital Management is a global alternative investment firm offering credit and volatility focused solutions across a range of liquidity and investment profiles, including hedge funds, drawdown vehicles and co-investments.
These combined funds should allow the biotech to continue to commercialize its stem cell therapy Omisirge, which was FDA approved a year ago.
According to data captured in the LevinPro HC database, this acquisition marks the 47th Biotechnology acquisition of 2024. Throughout 2023, 161 Biotechnology transactions were reported, and in 2022, 144 were announced.
