Gamida Cell Ltd. (NASDAQ:GMDA) This fall 2021 Earnings Convention Name March 15, 2022 8:00 AM ET

CompanyParticipants

Heather DiVecchia – Chief of Workers

Julian Adams – Chief Government Officer

Ronit Simantov – Chief Medical Officer & Chief Scientific Officer

Michele Korfin – Chief Working Officer & Chief Industrial Officer

Shai Lankry – Chief Monetary Officer

Convention Name Members

Jonathan Miller – Evercore ISI

Ted Tenthoff – Piper Sandler

Jason Butler – JMP Securities

Gil Blum – Needham & Firm

Matthew Cross – Alliance International Companions

Operator

Women and gents, thanks for standing by. Welcome to Gamida Cell’s Convention Name for the Fourth Quarter and Full Yr 2021 Monetary Outcomes. My identify is Howard and I will be your operator for right now’s name. Please be suggested that this name is being recorded at Gamida Cell’s request.

Now, I wish to introduce your host for right now’s convention, Heather DiVecchia, Gamida Cell’s Chief of Workers. Please go forward.

Heather DiVecchia

Thanks, Howard, and good morning, everybody. Welcome to right now’s name, throughout which we are going to present an replace on the corporate and evaluate our monetary outcomes for the fourth quarter and full 12 months of 2021. Earlier this morning, we issued a press launch summarizing our monetary outcomes and progress throughout the corporate, which is accessible on our web site at web site at www.gamidacell.com. Right here with me on our name right now are Julian Adams, Chief Government Officer; Ronit Simantov, our Chief Medical Officer and Chief Scientific Officer; Michele Korfin, our Chief Working Officer and Chief Industrial Officer; and Shai Lankry, Chief Monetary Officer.

Throughout this name, we could make forward-looking statements about our future expectations and plans, together with in respect to the timing of initiation and progress of, and information reported from the medical trials of our product candidates, anticipated regulatory filings, together with the submission of the BLA for Omidubicel to the FDA, commercialization planning efforts, the possibly life-saving or healing therapeutic, and business potential of Omidubicel, and our expectations relating to our projected money for use for working actions and money runway. Our precise outcomes could differ materially from what we challenge right now as a result of a lot of essential elements, together with the impression of COVID-19 pandemic on our operations, the scope, progress and growth of our medical trials and price impression thereof, medical, scientific, regulatory and technical developments, and people inherent within the technique of growing and commercializing product candidates which might be secure and efficient to be used as human therapeutics, and the endeavor of constructing a enterprise round such product candidates, in addition to these issues described within the Threat Components part of our most up-to-date annual report on Type 20-F and different filings that we make — and different filings that we make with the SEC occasionally. These forward-looking statements signify our views solely as of right now, and we warning you that we could not replace them sooner or later, whether or not on account of new data, fewer future occasions or in any other case.

Now, I might like to show the decision over to Julian.

Julian Adams

Thanks, Heather, and due to everybody for becoming a member of us this morning. Earlier than I start, I wish to take a second to acknowledge the key occasions within the Ukraine, which might be impacting the world globally over the previous few weeks. Whereas we haven’t any operations within the Ukraine or Russia and count on minimal impression to our operations, as world residents, our ideas are with all these affected.

At Gamida Cell, we’re extremely proud to be a part of the numerous developments occurring within the subject of cell remedy. Because it continues to develop and progress — progress towards cures for sufferers in want. 2021 was an essential 12 months for us as we progressed our two medical stage NAM-enabled cell remedy packages, Omidubicel and GDA-201. Each of which maintain vital potential to learn sufferers affected by hematologic malignancies and critical blood problems. Moreover, we additional expanded our NAM-enabled platforms with the addition of genetically modified NAM-enabled NK cell constructs, permitting us to leverage our experience in NK cells to doubtlessly deal with numerous hematologic malignancies and stable tumors.

I’ll begin right now’s name by commenting on our lead program, Omidubicel, which has breakthrough remedy designation and the potential to be the primary FDA-approved cell remedy for stem cell transplant. All through 2021, we introduced a number of information displays which contribute to the proof for Omidubicel’s potential efficacy, and in addition the optimistic well being financial impression of Omidubicel, with information demonstrating a discount in healthcare useful resource utilization. As Ronit will describe in a while on this name, this discount in healthcare useful resource utilization is essential for sufferers, hospitals, and payers. The sturdy information that we’ve got generated in assist of the potential for Omidubicel led us to our most up-to-date and thrilling milestone final month, particularly the initiation of the rolling BLA for Omidubicel.

With the submission of our non-clinical module following the receipt — the latest receipt of optimistic CMC centered Sort B assembly correspondence from the FDA. On this correspondence, the FDA confirmed analytical comparability between our wholly owned business manufacturing facility in Israel to the Omidubicel batches that have been produced on the medical manufacturing websites for the Section three examine. This month, we additionally submitted our medical module to the FDA. We’re on monitor to submit the remaining modules and the whole — and full the complete BLA submission by the tip of the second quarter.

We’re thrilled to have reached this inflection level and look ahead to working with the FDA to convey Omidubicel to sufferers as quickly as doable. Past on Omidubicel, we’re additionally growing our NAM-enabled NK pipeline, which is led by GDA-201. GDA-201 leverages our proprietary NAM know-how platform to broaden pure killer cells to reinforce their performance, direct tumor cell killing properties, an antibody-dependent mobile cytotoxicity or ADCC. We’re extremely inspired by the potential of GDA-201, which has produced really exceptional ends in a section one investigator sponsored examine, the place we’ve got seen very excessive and full sturdy responses in each follicular lymphoma and diffuse giant B-cell lymphoma.

In September 2021, we submitted an IND software to the FDA for a section one two trial with a cryopreserved formulation of GDA-201 in sufferers with diffuse giant B-cell lymphoma and follicular lymphoma. Following this submission, we have been positioned on medical maintain in November of 21, previous to sufferers being dose for the reason that FDA had questions on donor eligibility procedures and assay qualification. We’re actively working with the FDA to handle their feedback to allow an IND acceptance and examine initiation. This 12 months, we plan to provoke dosing on this section one/two examine.

Shifting to our latest product candidates, a genetically modified NAM NK enabled cell remedy packages. Final 12 months, we have been excited to determine a broad pipeline of NK product candidates that make the most of CAR and CRISPR mediated methods to extend concentrating on efficiency and persistence in opposition to hematologic malignancies and stable tumors. Strong preclinical proof offers us the boldness that these new NAM-enabled NK product candidates maintain promise as doubtlessly healing therapies for each hematologic cancers and stable tumors. Moreover, we introduced a analysis collaboration with the Dana-Farber Most cancers Institute for GDA-601, a CD38 CRISPR knockout mixed with a CD38 CAR NK cell assemble that has demonstrated promising preclinical outcomes in opposition to a number of myeloma cell strains. We’re excited to leverage the experience of researchers at Dana-Farber to review the in vitro NK cell killing exercise of GDA-601 in a number of myeloma. All through 2022, we plan to execute preclinical proof of idea research for these genetically modified NK therapeutic targets, and by the tip of 2022, choose a pipeline candidate for IND enabling research.

With the progress we achieved in 2021, we’re inspired about what the longer term holds for Gamida Cell in ’22. And naturally, this would not be doable with out our workers, whose dedication is concentrated on advancing therapies to assist tackle unmet wants for sufferers. I’m grateful for and pleased with their continued willpower and give attention to sufferers, which has introduced us to the place we’re right now.

Earlier than turning the decision over to Ronit, I wish to take a second to congratulate her on her latest promotion. Now, assuming the position of not solely chief medical — medical officer but in addition chief scientific officer, we at Gamida thanks all in your contributions to date, and look ahead to your continued work towards the imaginative and prescient together with your expanded position.

Ronit?

Ronit Simantov

Thanks, Julian, and good morning, everybody. Thanks for becoming a member of us on our name. In 2021, we had the chance to current a broad vary of scientific and medical information on Omidubicel. Tying collectively, free medical and translational analyzes with medical information, affected person expertise, long-term outcomes, and worth to the healthcare system.

In pre-clinical displays in 2021, we demonstrated that our nicotinamide or NAM platform, generates a novel mobile phenotype by way of modulation of metabolic pathways resulting in extremely practical and potent stem cells. In translational information, we confirmed that sufferers handled with Omidubicel had sturdy practical reconstitution of T and B cell subsets, dendritic cells and pure killer cells within the days and weeks following transplant. The translational information offered mechanistic assist for the medical outcomes of our world section three randomized trial. The outcomes of which have been revealed in October 2021, demonstrating fast somatic poetic restoration, considerably decreased infections and shorter length of hospitalization for sufferers transplanted with Omidubicel.

Of observe, the sufferers in our medical trial have been in essential want of allogeneic transplant for hematologic malignancies, with few or no options accessible. Trying again on the totality of our expertise with Omidubicel, we offered follow-up information from over 10 years of medical research demonstrating long-term sustainable [Inaudible] and immune competence in sufferers. We then went on to point out that Omidubicel might lower the associated fee to the healthcare system, as sufferers handled with Omidubicel had decreased healthcare useful resource utilization, together with blood transfusions, outpatient procedures, and time in intensive care items. At subsequent month’s transplantation and mobile remedy conferences in Salt Lake Metropolis, we’ve got eight abstracts accepted and deliberate to report new information centered on affected person outcomes and well being associated high quality of life.

Taken collectively, we’ve got continued so as to add to the physique of proof supporting the mechanism of motion, medical exercise, affected person expertise, and worth of Omidubicel as a possible life-saving remedy. Furthermore, we’re assured within the scientific and medical bundle we’ve got assembled, and our efforts to make Omidubicel accessible to sufferers in want of a hematopoietic stem cell transplant. We additionally made appreciable progress in our NAM-based pure killer cell platform. We offered preclinical information characterizing the properties in GDA-201. We confirmed that NAM mediates set of mobile processes, increasing NK cells whereas down regulating differentiation, mobile stress, and exhaustion pathways which might be sometimes activated in tradition. GDA-201 cells are characterised by a rejuvenated NK phenotype much like cytokine induced reminiscence like NK cells, and have been proven to be extremely cytotoxic in in vitro and in vivo assays. These findings have been supported by the medical information reported within the section one investigator sponsored examine on the College of Minnesota.

At ASH, we offered two 12 months follow-up information in sufferers with non-Hodgkin lymphoma, displaying an general response fee of 74%, together with 13 out of 14 full responses with a median length of response of 16 months. 78% general survival and toxicities consistent with these reported beforehand for GDA-201. We have now developed a cryopreserved formulation and plan to provoke a multi-center firm sponsored examine this 12 months in sufferers with follicular lymphoma and diffuse giant B-cell lymphoma. As well as, we reported that we’ve got expanded upon our NAM platform to develop genetically modified NK cells, GDA-301, GDA-501 and GDA-601, every of which is continuing with preclinical proof of idea research as we advance towards IND enabling research. Total, 2021 was a tremendously productive 12 months in analysis and growth and medical analysis. We glance towards persevering with to validate the therapeutic potential of our product candidates.

I’ll now flip the decision over to Michele, who will speak extra about our launch readiness for Omidubicel.

Michele?

Michele Korfin

Thanks, Ronit, and good morning, everybody. This 12 months has began off robust already, as final month we initiated our rolling BLA submission for Omidubicel. We proceed to make glorious progress advancing our Gamida owned manufacturing facility in Israel. The FDA acknowledgment of the analytical comparability from our deliberate Gamida business facility as in comparison with the power used for the section three examine was an essential milestone as we work towards advancing Omidubicel.

The business alternative for Omidubicel is extraordinarily encouraging. Based mostly on our continued evaluation of market insights, and we proceed to give attention to our business preparation. In parallel with our rolling BLA submission, we’re moreover assessing strategic options for the potential commercialization of Omidubicel, together with doubtlessly partnerships to broaden the attain of Omidubicel. Omidubicel has the potential to be the primary FDA-approved superior cell remedy product for allogeneic stem cell transplant in sufferers with hematology — hematologic malignancies.

For sufferers with hematologic malignancies which might be deemed eligible for an allergenic stem cell transplant, the process is their greatest likelihood for a possible treatment. Within the U.S., there are roughly 8,000 sufferers above the age of 12, with hematologic malignancies who endure an allergenic stem cell transplant every year. Sadly, although, there are roughly 1,200 sufferers every year who’re additionally aged 12 and up with hematologic malignancies who’re deemed eligible for an allergenic stem cell transplant however can not discover an acceptable donor. Sadly, we observe racial disparity within the U.S. with reference to entry to allogeneic stem cell transplants. Few are non-caucasian and would not have entry to a member of the family donor, we’ve got a really low probability of discovering a match within the public database. For instance, sufferers who’re African-American could solely have a few 20% likelihood of discovering a match. For sufferers in want of a stem cell transplant, that is typically their solely likelihood for a treatment.

We’re diligently working to advance Omidubicel and to broaden entry to sufferers. Based mostly on encouraging medical information and the much less stringent matching standards, transplanters suggestions signifies that Omidubicel has the potential to enhance outcomes for allogeneic stem cell transplant sufferers in comparison with different donor sources, and broaden entry for sufferers who can not discover a appropriate donor. Within the U.S., there are roughly 200 transplant facilities that carry out allogeneic stem cell transplants. 70 of these facilities conduct about 80% of the transplants, and our medical workforce continues to interact with these prime 70 facilities by way of one on one conferences and at medical conferences. We additionally proceed to evaluate market insights from transplanters within the U.S. Based mostly on in depth market analysis. We see the potential for Omidubicel to deal with roughly 2,000 to 2,500 sufferers per 12 months upon reaching peak market share. This equates to roughly 20% to 25% market share of the addressable inhabitants.

Our market entry workforce can be actively partaking in conferences with nationwide and regional business payers, and the suggestions continues to be very encouraging. Payers acknowledge the general worth proposition, together with the power of the Omidubicel medical information and the well being financial information we’ve got revealed up to now. In abstract, we’re excited by the potential of Omidubicel to be the primary FDA-approved cell remedy for allogeneic stem cell transplant. And we’re additionally inspired by the medical information and suggestions from physicians and payers.

I’ll now flip the decision over to Shai, to evaluate our monetary outcomes.

Shai Lankry

Thanks, Michele, and good morning, everybody. At the moment, I’ll summarize our monetary outcomes for the complete 12 months of 2021. As of December 31, 2021, our complete money place was roughly $96 million, in comparison with $127.2 million at December thirty first of final 12 months. Analysis and growth bills for the 12 months have been $50.2 million, in comparison with $38.9 million for a similar interval in 2020. The rise was primarily as a result of a $5.4 million improve in Omidubicel business manufacturing readiness actions and the developments of our NK packages, in addition to a rise of $5.9 million in broadening our scientific capabilities and expertise. Industrial bills in 2021 have been $20 million, in comparison with $8.9 million in 2020. The rise was primarily as a result of a $6.5 million improve in business readiness bills and $4.6 million improve in headcount inside our business group. Going ahead, we anticipate decreasing our near-term business readiness bills as we’re assessing different for the commercialization of Omidubicel together with potential U.S. or world partnership.

Common administrative bills rose $17 million in 2021, in comparison with $13.2 million in 2020. The rise was primarily as a result of a $2.6 million improve in skilled providers bills, and a $1.2 million improve in headcount and associated bills. Finance bills web have been $2.6 million in 2021, in comparison with $0.6 million in 2020. The rise was primarily as a result of a $4.4 million curiosity bills in our convertible notes offset by a $2.1 million capitalization and different non-cash revenue and $0.2 million improve in curiosity revenue from money administration. Web loss in 2021 was $89.8 million in comparison with a web lack of $61.6 million in 2020. We proceed to count on money use for ongoing working exercise this 12 months to vary from $60 million to $70 million. We anticipate the recurring complete money place will assist our ongoing working actions into mid-2023. This money a method steering is predicated on our present operational plan and excludes any further funding that could be acquired or enterprise growth actions that could be undertaken.

I’ll now flip the decision again over to Julian.

Julian Adams

Thanks, Shai. As we glance forward into what we’ve got got down to accomplish on this 12 months, 2022. I consider we’re well-positioned to ship on our mission of growing doubtlessly healing cell therapies for sufferers with blood cancers, stable tumors, and different critical blood problems. We glance towards our full BLA submission for Omidubicel, anticipated within the second quarter of this 12 months. And the deliberate initiation of our section one/two multi-center Gamida’s cell sponsored examine for GDA-201 and non-Hodgkin lymphoma. We’re excited for the chance to proceed leveraging our distinctive NAM-enabled platform throughout a broad vary of cell therapies. And I look ahead to offering updates all year long.

Now, we are going to open the decision for questions. Operator?

Query-and-Reply Session

Operator

[Operator Instructions] Our first query or remark comes from the road of Jonathan Miller from Evercore ISI. Your line is open.

Jonathan Miller

Hey, guys. Thanks for taking my questions. First, perhaps on GDA-201. It feels just like the language right here appears just a little bit much like final replace. And I simply puzzled for those who had any further coloration in your latest interactions with the company, and what your present ideas are and skill to get that IND [ph]? After which perhaps secondly, I am glad to see the runway steering reinstated, however simply needed to get some readability. How a lot business prep is included within the present runway steering — and perhaps how a lot medical work for GDA-201 is included in that steering?

Julian Adams

So let me start by addressing the primary a part of your query. We have not had any direct communication with the FDA. The FDA offered absolute readability on what points we wanted to resolve. Most of these points are resolved and we’re on the point of resubmit the modification to the IND, and we’ll be asserting when the IND is accepted. Concerning runway steering, let me flip it over to Michele and Shai to speak about launch readiness and use of money forge assist of GDA-201. Michele?

Michele Korfin

Thanks, Julian, and good morning, Jonathan. So Jonathan, I will begin after which I will flip to Shai for the extra financials. So with reference to runway steering, so for 2021, we have been capable of full numerous the important thing milestones for business preparation that led to the rise that Shai mentioned for OpEx. So a few of these included, the market insights corresponding to quantitative assessments from transplanters and suggestions from payers. As well as of very, essential milestone for us in 2021, was the readiness of Gamida Cell Help, though Gamida Cell sits inside the business group. It performs a essential position in beginning the chain of id and monitoring the chain of id and chain of custody. Though Omidubicel has much less stringent requirement, it’s nonetheless an individualized remedy and therefore we have to display chain of id chain of custody. That key work for Gamida Cell Help, together with constructing the workforce, growing the processes, and establishing the IT infrastructure was all accomplished in 2021.

So what that allowed us to do in 2022 as we’re assessing our strategic options or potential strategic options for launch. It allowed us to lower the spend with reference to a number of the business preparation due to the truth that a lot had been accomplished in ’21. So let me flip to Shai to offer us the precise monetary particulars. After which Jonathan, we’ll see if in case you have any follow-up questions.

Shai Lankry

Thanks, Michele. So, Jonathan, in your query, I’d divide the reply into two. As Michele [indiscernible] for the business. We did an inside sturdy technique of prioritization our expense in 2022 with the intention to meet the money a method steering. And I can let you know that each one the essential exercise will proceed to be superior. And as well as, as we talked about in — within the earlier feedback, we did cut back a number of the spending, that are much less essential for the subsequent few months. As for the R&D GDA-201 particularly, I can guarantee you that we proceed to advance the GDA-201, and we did — as a part of that — as a part of the prioritization, we did not cut back any of the GDA-201. We proceed to advance this program, together with the potential initiation of trials later this 12 months and first affected person in.

Jonathan Miller

Thanks a lot, guys.

Julian Adams

Thanks, Jon.

Operator

Thanks. Our subsequent query or remark comes from the road of Ted Tenthoff from Piper Sandler. Your line is open.

Ted Tenthoff

Nice. Thanks very a lot, and good morning, all people. So I wish to dig in just a little bit extra to the issues with respect to what we do greatest on advertising. To me, it looks as if the best worth could be retained if it is a remedy that you just take to market your self. However are you able to give it just a little bit extra simply when it comes to the way you’re assessing this? Might this be abroad deal the place you retain the U.S.? Might this be a world deal? Give us perhaps a way for a way and what sorts of choices you are contemplating. Thanks.

Julian Adams

So, Ted, thanks in your query and good morning. As was talked about within the script, we’re assessing our strategic options for Omidubicel, and that is pushed by our need to see as many sufferers as doable, achieve entry to Omidubicel. So we’re discussing regional offers, potential regional offers, in addition to doubtlessly U.S. offers with companions that will have a novel curiosity within the hematology-oncology franchise and that pairs up with their portfolio, and already has vital infrastructure to have the ability to ship on Omidubicel to as many sufferers as doable. Our involvement will at all times be very intimate, as a result of we’re the producer and as in cell therapies, the manufacturing amenities is essential to supporting any type of business product. So we have not made any decisions but. And we’re beginning and positively as soon as the BLA is absolutely filed and accepted, that can open up avenues for conversations with events.

Ted Tenthoff

Sure. Very useful, really. And I recognize that further coloration.

Julian Adams

My pleasure.

Operator

Thanks. Our subsequent query or remark comes from the road of Jason Butler from JMP Securities. Your line is open.

Jason Butler

Hello, thanks for taking the query. Simply one other on Omidubicel. Are you able to simply speak about plans for extra information displays this 12 months, together with from the open label extension to prolonged — expanded entry program? Thanks.

Julian Adams

So thanks, Jason, in your query. Ronit talked about throughout the ready remarks, that we’ve got eight summary TCT, however perhaps Ronit, you could possibly maybe spotlight different venues the place we would current the maturing dataset for Omidubicel.

Ronit Simantov

Completely, and thanks, Jason, in your query. So a TCT, as I discussed, we’ll be specializing in long-term observe up data, in addition to affected person reported outcomes, well being associated high quality of life, further immune reconstitution information and a few preclinical information as properly, and a few data on the worth and price of care. By way of the expanded entry program, we’re persevering with to recruit sufferers for the expanded entry program haven’t made a definitive resolution about what the suitable time could be to current that rising cohort of sufferers. However when there’s a, I feel, essential quantity of knowledge that is value presenting, we definitely will do this both by the tip of the 12 months at a hematological assembly or perhaps subsequent 12 months on the transplant assembly.

Jason Butler

Nice. Thanks.

Operator

Thanks. Our subsequent query or remark comes from the road of Gil Blum from Needham & Firm. Your line is open.

Gil Blum

Good morning, everybody, and thanks for taking our questions. So this one’s for Michele. Out of your discussions with physicians, what suggestions are you been getting relating to their curiosity in an FDA-approved transplant versus what they have been doing up to now? The main focus right here being whether or not they have an opinion on one thing that’s FDA-approved and the suggestions that you have heard thus far.

Michele Korfin

Thanks, Gil, and good morning. We — we have accomplished numerous work chatting with physicians and what — what’s encouraging for them about Omidubicel, which falls into the class of an FDA-approved remedy is the next. So, the primary off, Omidubicel will tackle the duty round chain of id and chain of custody from the time of the affected person choice from Omidubicel during the return of the remedy to the middle. In order that’s an essential duty, and that is one thing that comes with being an FDA-approved remedy. The opposite facet is across the Omidubicel itself. So the NAM know-how permits us to not solely broaden however improve the cells. And a number of the challenges related to utilizing different donor sources is to have an ample variety of cells. Does the donor doubtlessly have some co-morbidities that might doubtlessly be affecting the donor capability? So the very fact with Omidubicel that we’ll be an FDA regulated remedy with form of an outlined threshold round launch standards, that that’s considered as a optimistic.

I’ll say constantly the suggestions we hear from U.S. transplant ERS is that once they see the Omidubicel medical information, they see Omidubicel alternative for his or her sufferers falling into two key classes. The primary from the doctor’s perpection — perspective, is the power to enhance outcomes as in comparison with donor sources that they are at the moment utilizing. After which the second that very essential a kind of sufferers who have been deemed eligible for transplant however cannot discover a match, they see an important alternative for Omidubicel, given the very fact we’ve got a much less stringent matching standards, we demonstrated in our medical examine we had roughly 40% of sufferers that have been non-caucasian in our medical examine. So these two key alternatives actually do resonate constantly once we communicate to physicians.

Julian Adams

And if I’ll add, Michele. There is not any query that having a high quality assured product with specs and an FDA label clearly offers us the chance to interact with physicians and educate, and over time, that is an train in behavioral economics, if you’ll. If physicians discover sufferers which might be appropriate for Omidubicel and have a superb expertise that can go an extended technique to encouraging them to proceed to prescribe Omidubicel. So we predict that an FDA label for the primary ever sponsored randomized section three examine is a major recreation changer for the sphere of — hematopoietic stem cell transplant.

Gil Blum

All proper. Thanks, Michele, and thanks, Julian, for taking our query.

Michele Korfin

Thanks, Gil.

Julian Adams

Thanks, Gil.

Operator

[Operator Instructions] Our subsequent query or remark comes from the road of Matthew Cross from Alliance International. Your line is open.

Matthew Cross

Hello, good morning, and thanks for taking a few questions for me. Each on the NK cell facet. One, I needed to ask relating to the cryopreservation standing for GDA-201. I do know you’d beforehand examined Omidubicel as each a cryopreserved and non-cryopreserved product. Because you’re finalizing these — these IND necessities with the FDA for 201, I used to be simply hoping to get a recap on the medical provide chain for that asset when it comes to chilly chain and what’s required for that product particularly, given persevering with provide points at a broad stage.

Julian Adams

So, let me take that on. The workforce has labored very diligently by way of 2021 to excellent and optimize the cryopreservation. We now have product and stability with many months of stability, preserve that liquid nitrogen. So the aim of that is to have an off the shelf product to allow a multi-center section one/two examine, and have the ability to recruit sufferers with a — single remedy with GDA-201. So all of these actions have been attended to, and we’re simply finalizing the modification to the IND to resubmit to the FDA and start the medical examine in 2022.

Matthew Cross

Acquired it, okay. Thanks, Julian, recognize the affirmation there. And then you definately had acknowledged that you are looking to pick out a candidate for IND enabling research this 12 months out of genetically modified NK cell program. However simply needed to substantiate whether or not I am taking that assertion overly, actually. Are you advancing certainly one of these 4 packages to IND [ph] this 12 months and type of tabling the remaining for a bit? Or all of those making progress, and perhaps only one will turn out to be a frontrunner throughout the 12 months? Thanks.

Julian Adams

So, Matt, thanks in your essential query. So proper now, we’ve got three candidates which might be progressing. It is all information pushed, and my feedback about GDA-601 additional allowed us to broaden our collaboration with Dana-Farber to take a look at a number of myeloma cell strains, in addition to recent affected person isolates, who’re sufferers who’ve been closely pretreated. So the concept is progress all three, however choose one candidate for IND enabling research, after which subsequently proceed to make progress on the opposite candidates. Once more, it’s going to all be information pushed, and we’ll choose the candidate with essentially the most compelling information going ahead.

Matthew Cross

Nice. Okay, thanks for the clarification there as properly. I recognize all of the solutions.

Operator

Thanks. I am displaying no further within the queue — further questions within the queue presently. I might like to show the convention again over to Julian Adams for any closing remarks.

Julian Adams

Thanks, operator, and thanks everybody for becoming a member of us on right now’s name. We look ahead to partaking with you and have a superb day everybody, and see you subsequent quarter.

Operator

Women and gents, thanks for taking part in right now’s convention. This concludes this system. You might now disconnect. Everybody, have a beautiful day.