TiGenix focus on advanced cell therapy programs
Leuven (BELGIUM) – November 23, 2012 – TiGenix (Euronext Brussels: TIG), the European leader in cell therapy, announced today the definitive closure of its biomaterials unit, TiGenix Ltd., to allow the company to fully focus on the further commercial roll-out of ChondroCelect®, and its cell therapy product development pipeline.
“With our Phase II and Phase III cell therapy trials advancing on schedule, we continue to deliver on our business plan. The formal closing of TiGenix Ltd. reduces complexity, and allows us to exclusively focus on our high value assets in the short and long term: ChondroCelect and our proprietary adipose derived stem cell products,” said Eduardo Bravo, CEO of TiGenix.
In view of TiGenix’s new strategic direction and exclusive focus on cell therapy since 2011, TiGenix Ltd. was fully impaired in the 2011 financial accounts.
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Officer Chief Financial Officer
Director Investor & Media Relations
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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.
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