Elbit Imaging (EMITF) said it intends to restructure its bio-tech and medical holdings, InSightec - 60%, and Gamida Cell - 28%; both on a fully diluted basis, under a wholly-owned Elbit Imaging subsidiary and to offer shares of such subsidiary in a public offering on the Tel Aviv Stock Exchange. The move is part of the company's ongoing restructuring and the streamlining of business activities throughout the company's divisions.
The company intends to use the IPO's proceeds, should such be executed, to accelerate InSightec's development of several applications to treat major cancer diseases such as including, bone, prostate, breast, liver and brain. Additionally, the IPO proceeds will help accelerate the FDA approval process for Gamida Cell's flagship product, StemEx, which is currently in Phase III testing, as well as advance the product development of additional therapies.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.