TiGenix - EUR 5 million financing facility for phase III

TiGenix to receive EUR 5 million financing facility for phase III fistula program in Crohn's disease

Leuven (BELGIUM), Madrid (SPAIN) - October 3, 2011 - TiGenix (NYSE Euronext: TIG) announces that its wholly-owned subsidiary Cellerix SA is to receive a EUR 4.95 million soft loan from the "Madrid Network" to finance the company's phase III study for complex perianal fistulas in Crohn's disease patients.

The EUR 4.95 million loan will be made available in three tranches, of which the first 40% upon signing of the agreement. The loan will be repayable in 20 tranches over a period of 10 years starting June 2015 with at a very favourable annual interest rate.

"We are delighted by the support from the Madrid Network for our most advanced pipeline product. This financing facility will cover a significant part of the development costs of Cx601, our lead allogeneic stem cell candidate," said Eduardo Bravo, CEO of TiGenix. "Importantly, it allows us to finance the phase III independently and retain much more of its value in potential partnering agreements."

"The Madrid Network is very pleased to support the development of TiGenix's lead development compound and the company's forerunner role in the exciting field of cell therapy," said Aurelio Garcia de Sola, President of the Madrid Network. "We are very committed to continue our support for high-tech innovations to further increase and position our region's strong research and development capabilities in cutting edge industries. We would also like to underline the support given to this innovative project by the Autonomous Region of Madrid through the Madrid Network, based on the funds made available by the Ministry of Science and Innovation within the framework of the INNTEGRA program."

About Cx601 -- TiGenix's most advanced allogeneic stem cell candidate

Cx601 is a suspension of expanded allogeneic adult stem cell product derived from human adipose (fat) tissue (expanded Adipose derived Stem Cells or 'eASCs') that is delivered locally in the fistula through intra-lesional injection. Cx601 has Orphan Drug designation in Europe. Based on the phase II clinical trial report, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) stated that it considered the presented preclinical data package sufficient for an MAA (Market Approval Application) submission. CHMP also indicated that the proposed single phase III study might be sufficient to support an MAA in terms of efficacy. Preparation of the phase III program is currently ongoing and recruitment is expected to start in the first half of 2012.

For more information, please contact:

Eduardo Bravo, Chief Executive Officer
Gil Beyen, Chief Business Officer
T: +32 16 39 60 60
investor@tigenix.com

About TiGenix

TiGenix NV (NYSE Euronext Brussels: TIG) is a leading European cell therapy company with two marketed products, ChondroCelect and ChondroMimetic, and a strong pipeline with clinical stage adult stem cell programs for the treatment of autoimmune and inflammatory diseases. TiGenix is based out of Leuven (Belgium), and Madrid (Spain), and has facilities in Cambridge (UK) and Sittard-Geleen (the Netherlands). For more information please visit www.tigenix.com.

About the Madrid Network

The Madrid Network is a non-for-profit association with the mandate and mission to promote the region nationally and internationally as a top location for research, development and innovation.

Forward-looking information

This document may contain forward-looking statements and estimates with respect to the anticipated future performance of TiGenix and the market in which it operates. Certain of these statements, forecasts and estimates can be recognised by the use of words such as, without limitation, "believes", "anticipates", "expects", "intends", "plans", "seeks", "estimates", "may", "will" and "continue" and similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond TiGenix' control. Therefore, actual results, the financial condition, performance or achievements of TiGenix, or industry results, may turn out to be materially different from any future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of the publication of this document. TiGenix disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in TiGenix' expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by Belgian law.