$16Million Israeli fund for anti leukemia treatment StemEx

$16-million round of financing goes for Gamida Cell to bring StemEx, a treatment for leukemia and lymphoma to the gamidatevamarket. From Red Herring: The funds will be used to expand the Israeli stem cell startup’s pipeline and bring products to market. …The company reported extremely favorable clinical results from phase I and II studies of umbilical cord blood highly enriched with stem cells. If all goes well, the company plans to begin marketing StemEx in 2009 in partnership with Teva Pharmaceutical Industries, Israel’s largest drug company and an investor in Gamida Cell. Link

Crucial here is the cooperation of a stem cell biotech startup with a Big Pharma Giant. It is a whole new phenomenon.

Logo sources: Gamida, Teva.