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Elbit Imaging Announces the Completion of the Sale of Belgrade Plaza (VISNJICKA) by its Subsidiary, Plaza Centers
TEL AVIV, ISRAEL / ACCESSWIRE / March 2, 2017 / Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, in further to its announcements dated on November 3, 2016 and January 26, 2017 that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary (45%) of the Company, has successfully completed the sale of Belgrade Plaza shopping and entertainment center, by one of its subsidiaries (the "SPV"), to a subsidiary of BIG Shopping Centers Ltd. (the "Purchaser").
Belgrade Plaza is currently the largest development underway in Serbia. The shopping center, which is currently over 90% pre-let, is on schedule to open in April 2017 and Plaza will remain responsible for the development and leasing of the asset until the opening. Plaza's subsidiary shall pay all related development costs until the opening through a line of credit from a financing bank which was previously agreed for the development of Belgrade Plaza to a maximum amount of Euro 42.5 million.
Following the successful sale, Plaza has now received an initial advance payment of approximately Euro 31.5 million from the Purchaser for the sale of 100% of the SPV. This will be followed by further payments during the first 12 months of operation, which are subject to certain operational targets and milestones being met. BIG Shopping Centers Ltd. has provided a guarantee to secure these future payments.
As previously stated, the final agreed value of Belgrade Plaza, which will comprise approximately 32,300 sqm of GLA, will be calculated based on a general cap rate of 8.25% on the sustainable NOI after 12 months of operation, which Plaza estimates will be approximately Euro 7.2-7.5 million per annum. Parts of the NOI will be re-examined again after 24 months and 36 months of operation, which may lead to an upward adjustment of the final purchase price.
At least 75% of the net proceeds received from the disposal will be distributed to Plaza's bondholders by or before March 31, 2017, and further distributions will be made following receipt of any future additional payments, in line with Plaza's stated amended restructuring Plan.
HYPNOSIS HELPS BEAT MRI FEAR
BYJUDY SIEGEL-ITZKOVICH MARCH 2, 2017 22:41
The treatment, with a device by the Insightec company, uses a focused ultrasound beam to cauterize a piece of the brain responsible for the severe tremor that is caused by Parkinson’s disease.
A Parkinson’s disease patient wanted to take advantage of a new treatment for tremor offered only at Haifa’s Rambam Medical Center.
But he had a problem. He suffers from claustrophobia, and lying in a noisy, dark “tunnel” while being scanned was too much even to contemplate.
The treatment, with a device by the Insightec company, uses a focused ultrasound beam to cauterize a piece of the brain responsible for the severe tremor that is caused by Parkinson’s disease. The beam is focused with exactitude of a hundredth of a millimeter deep into the brain, eliminating the need for incision.
Rambam said it is the first in Israel and only the second in the world to adopt the technology, and it has already carried out procedures on 50 patients, 95% of them with a successful result.
But the patient in question said he was unable to remain in the scanner even momentarily, and he would have to lie there for over an hour. He underwent special training at Rambam to hypnotize himself. The staff – who are used to seeing fearful patients give up before entering the MRI, were skeptical, but he in fact lay there without moving for the necessary amount of time.
When it was over, he got up, looked at his right hand that previously suffered from severe shaking, and saw it was steady. He was sent home with a smile on his face.
By summer 2020 maybe
for sure, i guess!
Hey Midas..long time no talk..still here with 10,000 shares..so when you think we will see the next move up? By the summer perhaps???
Elbit Imaging Announces Update Regarding the Agreement to Sell its Project in Kochi, India
(Seems like not too many buyers around )
TEL AVIV, ISRAEL / ACCESSWIRE / March 1, 2017 / Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, in further to the announcements dated on January 15, October 25 and November 29, 2016, regarding an agreement to waive any of its rights and interest in a special purpose vehicle which holds a land plot in Kochi, India, that the Company and the local investor has agreed that the long stop date, will be extended from February 28, 2017 to June 30, 2017.
All other terms and conditions of the agreement shall remain unchanged.
The Company will update regarding any new developments.
Elbit Imaging Ltd. Announces That Gamida Cell's Has Made First Patient Transplanted in Phase 3 Registration Study of Nicord for Blood Cancers
TEL AVIV, ISRAEL / ACCESSWIRE / February 28, 2017 / Elbit Imaging Ltd. (EMITF) (EMITF) ("Elbit" or the "Company") announced today, in further to its announcement dated December 12, 2016, that it was informed by Gamida Cell Ltd. ("Gamida"), an indirect associate of the Company, that the first patient has been transplanted in Gamida's Phase 3 study of NiCord®, in development as a cure for patients with blood cancer (the "Trial".)
The Trial is an international, randomized, controlled, open-label, multicenter, registration study. The trial is expected to enroll 120 patients, ages 16-60 that will be enrolled in medical centers in the U.S and Europe. The Trial will evaluate the safety and efficacy of transplanting NiCord® as compared to transplanting un-manipulated cord blood in patients with hematological malignancies (blood cancers). The primary end point is the time estimation to neutrophil engraftment.
As of today, the development of NiCord remains at the clinical stage of development.
Gamida develops cellular and immune therapies for the treatment of cancer and orphan genetic diseases. Gamida's pipeline of products are in development to treat a wide range of conditions, including blood cancer, lymph nodes cancer and genetic hematological diseases such as sickle cell disease and thalassemia.
The Company holds approximately 89.9% of the share capital of Elbit Medical Technologies Ltd. (TASE:EMTC) (85.6% on a fully diluted basis) which, in turn, holds approximately 25% of the share capital in Gamida (22.5% on a fully diluted basis).
Still here with 10,000 shares..holding LT whenever it may be... hopeful ????????
Still here with my 10,000 shares...still hopeful...waiting and praying ??
Midas..can you tell me why you said " I'll be a happy investor of this company someday! "...what make you say that?
Elbit Imaging Announces Update Regarding the Sale of MUP Plot in Belgrade by its Subsidiary Plaza Centers
TEL AVIV, ISRAEL / ACCESSWIRE / February 1, 2017 / Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, in further to its announcement dated May 17, 2016, regarding the sale of Plaza Centers N.V. ("Plaza") (LSE:PLAZ) wholly owned subsidiary, which holds the "MUP" plot and related real estate in Belgrade in Serbia, that Plaza has agreed with the buyer to bring forward the payment of Euro 4.2 million out of the third scheduled payment amount of Euro 4.6 million in a discount transaction with a present value of approximately Euro 4.05 million. The remainder of the purchase price will be paid as originally agreed between the parties.
One day you'll be
one happy investor!
Another step toward profitability...10,000 shares still holding LT
Elbit Imaging Announces Completion of the Sale of Suwalki Plaza Shopping and Entertainment Center in Poland, by Its Subsidiary, Plaza Centers
[Step by step towards profitability!!!]
TEL AVIV, Israel, Feb. 01, 2017 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF), (EMITF) announced today, in further to the announcement, dated December 22, 2016, that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary of the Company, has completed the sale of Suwalki Plaza shopping and entertainment center in Poland to an investment fund for Euro 42.3 million, which is in line with Plaza’s last reported book value.
Having completed the transaction, Plaza has received approximately Euro 16 million net cash, after the repayment of the bank loan (approximately Euro 26.6 million), and other working capital adjustments.
Suwalki Plaza, with its 20,000 sqm GLA, is the only shopping center in Suwalki, a Polish city with population of approximately 75,000, close to the border with Lithuania. It is located next to a major road which connects the Baltic countries to Poland and has a potential catchment area of 200,000 inhabitants. The center is fully let.
Out of the net proceeds, at least 75% will be distributed to Plaza’s bondholders by or before March 31, 2017, in line with Plaza’s stated amended restructuring Plan.
Midas...when can we expect the next move up?
Actually i was much more enthusiastic
about daughter company EMTC which at
some point gained over 21% and ended
very nicely with huge volume with about
25 times the average daily volume!
Check it out:
http://www.tase.co.il/Eng/Management/GeneralPages/Pages/SimpleSearchResult.aspx?objectId=00474015&objectType=1&securityType=0&searchTerm=ELBIT%20MEDITEC
EMITF.TA too enjoyed a much higher average
volume day
http://www.tase.co.il/Eng/Management/GeneralPages/Pages/SimpleSearchResult.aspx?objectId=&objectType=&securityType=&searchTerm=EMITF
My estimate EMITF will end in the Naz today at over 5% increase
What make you say that? You maybe right because EMITF- TA went up big time today...keeping hope alive...10,000 shares STRONG!!!
I have a feeling something
very positive is about to
happen!
Just waiting Midas..still think this company have potential that's why I'm still here ...want to get to $ 10 to break even and adios amigos..any chance of that happening?
I ask you, what do you think?
If and when you do that i will
tell you my opinion!
Midas..is this good news or bad? Will the company make a profit from it? When can we expect the next move up?
Elbit Imaging Announces Signing Final Agreement for the Sale of Belgrade Plaza (Visnjicka) by Its Subsidiary, Plaza Centers
TEL AVIV, Israel, Jan. 26, 2017 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, in further to its announcement dated on November 3, 2016, that Plaza Centers N.V. ("Plaza") (PLAZ.L), an indirect subsidiary (45%) of the Company, has signed a binding share purchase agreement with BIG Shopping Centers Ltd., a publically traded company listed in the TA 100 Index (the “Purchaser”), for the sale of the Belgrade Plaza shopping and entertainment center.
Belgrade Plaza (Visnjicka) is currently the largest development underway in Serbia. The shopping center, which is currently over 90% pre-let, is on schedule to open in April 2017 and Plaza will remain responsible for the development and leasing of the asset until the opening.
Upon the completion of the transaction, which is expected during the upcoming month, Plaza will receive an initial advance payment of approximately Euro 28 million (plus customary NAV adjustments) from the Purchaser for the sale of 100% of the SPV’s shares, followed by further payments which will be subject to certain operational targets and milestones being met. The Purchaser will provide a guarantee to secure these future payments.
The final agreed value of Belgrade Plaza, which will comprise approximately 32,300 sqm of GLA, will be calculated based on a cap rate of 8.25% as well as the sustainable NOI after 12 months of operation, which Plaza estimates will be approximately Euro 7.2-7.5 million per annum. Further instalments will be due to Plaza during the first year of operation based on this 12 month figure. The NOI will be re-examined again after 24 months and 36 months of operation, which may lead to an upward adjustment of the final purchase price.
Plaza has a line of credit from a financing bank for the development of Belgrade Plaza to a maximum amount of €42.5 million. At least 75% of the net proceeds received from the disposal will be distributed to Plaza’s bondholders by or before March 31, 2017, and following receiving any future additional payments, in line with Plaza’s stated amended restructuring Plan.
Midas..when can we expect the next move up? Insightec going public maybe?
You said you needed $6.50 to break even last month (a lie) and now you say you need $10 to break even (also a lie) on your "10,000 shares" (another lie)? You aren't from Texas, either. Such a waste of time breathing in your direction. Why not simply try to be honest in your posts for a change? Maybe people would not cringe every time they see you.
I won't pollute this EMITF forum with more replies to your useless posts. I'll just check back in 6 months or so to see what nonsense you are spouting then.
Still hopeful ..10,000 shares ..waiting to hit $ 10 to break even..AND yes my Cowboys list .. I from Texas just in case you guys wanna know ??
This has been possibly the worst performing stock on NASDAQ, losing 99% of its value over the past 5 years. You are asking us if it will triple in price (which still leaves you underwater my friend, you are forgetting that 1:20 split in August 2014). You always make up BS and never tell us the truth when you post, so I'm not buying the BS about a wife. Nor does anybody care about your wife.
The answer is: of course it could triple. Any stock could.
Will EMITF triple? I see absolutely no reason to believe it will. And even if we tell you "sure, it's gonna go to da moon", you will still ask every day.
So: just sell it like a man. Take what it left and buy some lottery tickets instead. Give them to your "wife" and tell her good luck.
All the more reasons
for you to sell!
Guys..can't sell because I have an ex wife and 5 kids to support plus I'm behind in my rent..just want to know if this stock will ever reach $ 10? ..any chance?!?!??
Now there are two of us
advising you to sell!
Just do it!!!
Why not just take your loss and stop being so anxious about it? If you had done that two years ago when I suggested it, you would have actually broken even. You have some weird superstition about taking a loss? It's a tax write-off.
Midas as of now I'm not asking for much I just wanna get to $ 10 and break and get the hell out ..it been 3 hellish years for shareholders...but honestly do you think it will reach $ 10?
Keep on dreaming! One day
your dream just might get
realised!
But why ask for only $10?
It just might zoom much
higher!
Who knows? The future will
tell.
I wish I could but I can't I'm in too deep..I will take a loss if I do.. no choice but to hold on..question is when it will hit at least $ 10 so I can get out and never look back.. $ 10 please!!!! ??????????
I advised you to sell a
very long time ago.
This company is not suited
to the weak of heart!
Midas..with all these good news coming out why hasn't the stock price move? ..what are they waiting for? When can we expect the next move up? .. never?!?!??????
Clal Biotechnology is reporting a number of recent deals and developments by its portfolio companies, including the completion by Gamida Cell of procedures for another trial on patients with leukemia or lymphoma for the US Food and Drug Administration (FDA). Gamida Cell has also obtained FDA approval for a personalized vaccination against mutations created by the malignant tumor itself.
Published by Globes [online], Israel Business News - www.globes-online.com - on January 8, 2017
http://www.globes.co.il/en/article-neon-therapeutics-completes-70m-financing-round-1001170762
Essential Tremor Treatment with Ultrasound Market-
InSightec Ltd. is only key player in Market
Essential Tremors (ET) also known as benign tremor, familial tremor, and idiopathic tremor. Essential tremors are involuntary trembling in one or more parts of body. The cause of tremors is due to problems in parts of the brain that controls muscle in the body or in specific parts of the body, such as hands. It can also affect arm, head, eyes, face, vocal cord, trunk, and legs. Most tremors occur in the hands, which can impair patient’s ability to eat, shave, write, and perform household activities and functions in the workplace. Essential tremors are most common in people who are middle-aged and older, but anyone can suffer from this disorder. Treatment to relieve this disorder depends on their causes. Tremors can be treated by medicines or surgical procedure to improve muscles control.
http://www.medgadget.com/2017/01/essential-tremor-treatment-with-ultrasound-market-insightec-ltd-is-only-key-player-in-market.html
Elbit Imaging Ltd. Announces Notes Buyback
TEL AVIV, Israel, Dec. 22, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (“EI” or the “Company”) (EMITF) (EMITF) announced today, further to the Company’s announcement dated August 18, 2016 regarding the Board of Directors resolution to approve new notes' Buy-Back plan of the Company's series H notes (“The Notes”) which are traded on the Tel Aviv Stock Exchange ("TASE") and to the Company’s announcement dated December 15, 2016, regarding the last Notes buyback, that the repurchases of the following Notes was executed since the 15th of December, 2016 to the date herein:
Note
The acquiring
corporation Quantity purchased
(Par value) Weighted
average price Total amount
paid (NIS)
Series H
Elbit Imaging
Ltd. 5,152,770
99
5,101,242
The entire repurchased notes since the 12th of October, 2015, as the first Notes buyback plan announcement, to the date herein:
Note
The acquiring
corporation Quantity purchased
(Par value) Weighted
average price Total amount
paid (NIS)
Series H
Elbit Imaging
Ltd. 150,358,103
92.06
138,389,037
About Elbit Imaging Ltd.
Elbit Imaging Announces Signing Agreement to Sell of Suwalki Plaza Shopping and Entertainment Center in Poland, by Its Subsid...
Elbit Imaging Ltd. (“EI” or the “Company”) (TASE:EMITF) (NASDAQ:EMITF) announced today, in further to the announcements dated August 1 and October 18, 2016, that Plaza Centers N.V. ("Plaza") (LSE:PLAZ), an indirect subsidiary of the Company, has entered into a sale purchase agreement with respect to the sale of the shares of the SPV holding the Suwalki Plaza shopping and entertainment center in Poland, to an investment fund. The agreement reflects a value for the asset of Euro 42.3 million.
In line with the terms of agreement, the final closing and settlement is expected to be concluded by the end of January 2017.
Upon completion of the agreement, Plaza will receive approximately Euro 16.6 million net cash, after the repayment of the bank loan (approximately Euro 26.6 million), and other working capital adjustments in accordance with the balance sheet of the SPV as of the closing date. Out of the net proceeds, at least 75% will be distributed to Plaza’s bondholders by or before the end of March 2017, in line with Plaza’s stated amended restructuring Plan.
Suwalki Plaza shopping and entertainment center provides 20,000 sqm of GLA and will be fully let soon. It is located in Suwalki, north east Poland, close to the border with Lithuania and the pan Baltic road which leads north to Lithuania, Latvia and Estonia. As the only shopping centre in the city it also benefits from a local population of approximately 75,000.
Still here with 10,000 shares..don't know why but still do..can somebody convince me to hold?
LOL, starteam003 poses questions,
never ever answers!
The someday is the question.
someday
My main concern is when the stock price will go higher..can someone answer me this question????
My main concern is when the stock price will go higher..can someone answer me this question????
You just have to figure that someday, this will turn into revenue for EMITF.
The someday is the question.
"Focused ultrasound treatment for prostate cancer may offer a novel method to re-think the management of locally-confined prostate cancer in select patients," said Behfar Ehdaie, MD, MPH Surgeon, Memorial Sloan Kettering Cancer Center. "MR imaging allows real-time visualization and temperature feedback to surgeons to allow for precision in tissue ablation and preservation of healthy tissue," he concluded.
"INSIGHTEC has reached another important strategic milestone. We remain focused on expanding the Exablate technology platform to address multiple clinical indications and treat more patients worldwide,"
Elbit Imaging Ltd. Announces That INSIGHTEC's Exablate Neuro System Has Been Approved by MHLW (Japan) for the Treatment of Essential Tremor and That INSIGHTEC's Exablate System Has Been Approved by EU (CE) for the Treatment of Prostate Cancer
TEL AVIV, Israel, Dec. 19, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (EMITF) (EMITF) ("Elbit" or the "Company") announced today that it was informed by INSIGHTEC Ltd. ("INSIGHTEC"), that the Exablate system (“Exablate”) received CE Mark for treating locally-confined prostate cancer with MR-guided Focused Ultrasound (MRgFUS).
One of six men will be diagnosed with prostate cancer during their lifetime. Many patients are diagnosed with locally confined disease with low or intermediate risk for progression. In these cases, patients may choose between monitored waiting and an intervention. Currently available treatments including prostatectomy, which surgically removes the entire prostate, and radiation therapy, which demonstrates good cancer control, however there might be impacts on potency and continence.
The Exablate is based on INSIGHTEC’s proprietary focused ultrasound technology. It uses focused ultrasound waves to precisely target and ablate, or destroy, the targeted tissue in the prostate, while avoiding adjacent structures and with no incisions. The treatment is done under Magnetic Resonance Imaging (MRI) guidance for high resolution visualization of the patient’s anatomy as well as real-time temperature monitoring of the treatment area. The treatment requires a single session, allowing patients a quick return to normal activity.
In addition, the Company was informed by INSIGHTEC that the Japanese Ministry of Health, Labor and Welfare (“MHLW”) has approved its Exablate Neuro system (“Exablate Neuro”) for the non-invasive treatment of essential tremor in patients who do not respond to medication. The approval was given based on data collected in a global clinical trial conducted in eight medical centers in North America and Asia.
Essential tremor is the most common movement disorder, affecting more than 3 million people in Japan, and millions more worldwide. Hand tremor is the most common symptom, but tremors can also affect the head, arms, voice, legs, and torso. The cause of this disease is still unknown but it has a strong hereditary attribute. Patients often have trouble performing everyday tasks such as eating, dressing, writing, holding objects and even speaking.
Exablate Neuro uses focused ultrasound waves to precisely target and ablate tissue deep within the brain with no incisions. The treatment is performed under Magnetic Resonance Imaging (MRI) guidance for real-time treatment monitoring. The MHLW approval was granted based on clinical data from a randomized, double-blind, multi-center clinical study which demonstrated the safety and efficacy of non-invasive thalamotomy with Exablate Neuro.
At this stage, INSIGHTEC is unable to estimate the implications of the MHLW and EU (CE) approvals on INSIGHTEC.
The Company holds approximately 89.9% of the share capital of Elbit Medical Technologies Ltd. (TASE:EMTC-M) (85.6% on a fully diluted basis) which, in turn, holds approximately 31.3% of the share capital in INSIGHTEC (26.6% on a fully diluted basis).
Hey guys !! I'm still here not going anywhere.. still have my 10,000 shares though at $6.50 base price ..hopefully I'll break even someday..any chance of that?????????
First UK Patient Treatments with Focused Ultrasound for Essential Tremor at Imperial College
HAIFA, Israel, December 12, 2016 /PRNewswire/ --
INSIGHTEC congratulates Imperial College Healthcare NHS Trust for performing the first focused ultrasound treatments in the UK for essential tremor.
Essential tremor is the most common movement disorder, affecting around one million people in the United Kingdom, and millions more worldwide. The most common symptom is hand tremor, but tremors can also affect the head, arms, voice, legs and torso.
Patients often experience difficulty performing everyday tasks such as eating, dressing, writing, holding objects and even speaking. Patients who fail to respond to medication may be treated with surgical procedures such as Deep Brain Stimulation (DBS) or thalamotomy.
A medical team at Imperial College Healthcare NHS Trust lead by Mr Dipankar Nandi, MD (Neurosurgeon), Professor Wladyslav Gedroyc, MD (Radiologist), and Dr Peter Bain (Neurologist) are performing non-invasive MR-guided Focused Ultrasound (MRgFUS) thalamic lesioning for treating essential tremor using the Exablate Neuro as part of a trial.
The treatment starts with applying low energy ultrasound waves under magnetic resonance imaging (MRI) to identify the small part (3 mm X 3mm X 5 mm) of the brain that is thought to be responsible for causing tremors, part of the thalamus and sub -thalamic region. Once located, high intensity ultrasound waves are applied to heat and destroy only the target tissue. The whole procedure is performed while the patient is fully conscious and lying on the treatment bed in an MRI scanner.
The result for certain patients is an immediate and significant reduction of their tremor. Non-invasive focused ultrasound treatment minimizes risk of infection, and the risks of bleeding, stroke or other surgical complications and allows patients to return home usually the same day.
Mr Dipankar Nandi, Consultant Neurosurgeon who is performing the thalamotomy with MGFUS, said: "I have been performing DBS operations for over 15 years. This breakthrough allows us now to operate on these patients without the significant risks that inserting an electrode 15 cms deep into the brain entails. We are at the cusp of widening the applications of this innovative technology to help a wide variety of patients, some of whom had no therapeutic option before."
"INSIGHTEC is the pioneer in non-invasive treatments. Patients with essential tremor now have a treatment option that allows them to be treated on an outpatient basis and quickly return to their daily life with improvement in their tremor," said Rick Schallhorn, INSIGHTEC'S Vice President Neurosurgery.
Elbit Imaging Ltd. Announces That Gamida Cell’s Phase 3 Study of NiCord for Blood Cancers is Now Enrolling
TEL AVIV, Israel, Dec. 12, 2016 (GLOBE NEWSWIRE) -- Elbit Imaging Ltd. (EMITF) (EMITF) ("Elbit" or the "Company") announced today that it was informed by Gamida Cell Ltd. ("Gamida Cell"), an indirect associate of the Company, that Gamida Cell has been cleared by the U.S. Food and Drug Administration to begin enrolling for the Phase 3, international, multicenter trial of Gamida Cell's NiCord® for patients with high risk hematological malignancies (blood cancers) (the "Trial"). In addition, Gamida Cell has informed the Company that clearance to begin enrolling for the NiCord study has also been received for an additional European territory.
The Trial is planned to be a randomized-controlled study comparing transplantation of NiCord to that of un-manipulated umbilical cord blood. A total of 120 patients will be enrolled at transplantation centers throughout the US and Europe. Gamida Cell estimates that patient recruitment will take approximately two years to complete. The primary endpoint of the study is to examine the time from transplant to engraftment of neutrophils.
As of today, the development of NiCord remains at the clinical stage of development.
Gamida Cell develops cellular and immune therapies for the treatment of cancer and orphan genetic diseases. Gamida Cell's lead pipeline products are in clinical development as alternative therapeutic treatments for many patients indicated for bone marrow transplant, but who cannot find the necessary fully matched donor. These include NiCord for blood cancers and CordIn for sickle cell disease and thalassemia.
The Company holds approximately 89.9% of the share capital of Elbit Medical Technologies Ltd. (TASE:EMTC-M) (85.6% on a fully diluted basis) which, in turn, holds approximately 25% of the share capital in Gamida (22.5% on a fully diluted basis).
Gamida reports positive Sickle-Cell Disease trial
Gamida Cell
Gali Weinreb
The Israeli stem cell treatment developer also reported that it had obtained approval for a Phase III trial of NiCord for blood cancer.
Israeli stem cell developer Gamida Cell, controlled by Clal Biotechnology Industries Ltd. (TASE: CBI) and Elbit Medical Technologies Ltd. (TASE:EMTC), today published positive results in its Phase I/II trial of NiCord, the company's leading drug, for treatment of Sickle-Cell Disease (SCD). At the same time, the company also reported that it had obtained approval for a Phase III trial of NiCord for treatment of blood cancer.
All of the surviving patients in the trial were free of SCD symptoms. Gamida Cell CEO Dr. Yael Margolin said, "… the data… (indicate) that NiCord enables more patients to receive a potentially curative treatments for SCD."
Gamida Cell estimated that it would take two years to recruit patients for the Phase III NiCord trial for the treatment of blood cancer (compared with six years for a Phase III trial of another drug, since abandoned, for the treatment of blood cancer).
The Phase III trials will be conducted on 120 patients in the US and Europe. It will compare patients treated with umbilical cord blood who have undergone the company's procedure with those treated with umbilical cord blood who have not. The main goal of the trial is to demonstrate a shortening of the time needed to absorb the desirable cells in the patients' body.
The Phase I/II trial of NiCord for treatment of SCD included nine patients. The implant was absorbed in all of them. Two of the trial patients died from complications resulting from the implant, while the other seven no longer suffer from the disease. Despite the death of two patients, these results are considered better than for the existing treatment for SCD.
The Clal Biotechnology share price rose 1.58% on the news, giving the company a NIS 362 million market cap. The Elbit Medical share price was up 1%, increasing the company's market cap to NIS 170 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2016
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