TiGenix signs agreement for commercialization of ChondroCelect in the Middle East
Leuven (Belgium) – November 13, 2012 – TiGenix NV (Euronext Brussels: TIG) and pharmaceutical marketing and distribution company Genpharm in Dubai, United Arab Emirates, today announced that they have signed an exclusive agreement for the commercialization of ChondroCelect® in the Middle East region.
TiGenix and Genpharm have entered into an exclusive distribution agreement to facilitate the successful commercialization of ChondroCelect in Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman (GCC), Lebanon, Jordan, Syria, Iraq, Iran and Egypt.
Under the terms of the agreement, Genpharm will facilitate patients’ access to ChondroCelect in the Middle East countries by obtaining the required regulatory approvals, and providing training and product support to surgeons and healthcare professionals in selected orthopedic centers. TiGenix continues to be the marketing authorisation holder and will be responsible for logistics and the manufacturing of ChondroCelect.
“We are pleased to have Genpharm as our partner to help us enter into the emerging healthcare market in the Middle East,” said Eduardo Bravo, CEO of TiGenix. “The Middle East countries are generally affluent, offer state-of-the-art medical care and are very receptive to advanced therapeutics. We very much look forward to work with the Genpharm team and support them in the roll-out of ChondroCelect.”
“We are delighted to work with TiGenix to bring ChondroCelect to patients and orthopedic surgeons across the Middle East region. We have the opportunity to offer an innovative and effective therapeutic solution that will improve the quality of life of many patients suffering from knee cartilage deterioration,” said Karim Smaira, CEO of Genpharm.
For more information:
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TiGenix NV (NYSE Euronext Brussels: TIG) is a leading European cell therapy company with a marketed cell therapy product for cartilage repair, ChondroCelect®, and a strong pipeline with clinical stage allogeneic adult stem cell programs for the treatment of autoimmune and inflammatory diseases. TiGenix is based out of Leuven (Belgium) and has operations in Madrid (Spain), and Sittard-Geleen (the Netherlands). For more information please visit www.tigenix.com.
About Genpharm Services
Genpharm Services is a pharmaceutical marketing company, based in the Dubai Biotechnology and Research Park, UAE. Through evidence based medicine, Genpharm provides healthcare organizations with innovative therapeutic solutions in niche and rare genetic disease areas, market access strategies and sustainable commercial solutions in the Middle East and North Africa Region.
For more information, please visit www.genpharmservices.com.
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