TiGenix Business Update & Financial Highlights for Q1 of 2013

Leuven (BELGIUM) - May 14, 2013 -TiGenix NV (Euronext Brussels: TIG), the European leader in cell therapy, gives an update of its business activities and provides the financial highlights for the first quarter ending March 31, 2013.

• ChondroCelect Sales up 55% over Q1 2012
• Cx611 Phase IIa delivers positive results in refractory RA
• Cx601 Phase III enrollment on schedule

Business highlights

ChondroCelect:

• TiGenix obtained reimbursement in Spain for ChondroCelect
• ChondroCelect sales benefit from continued uptake in Belgium and in the Netherlands

Progress development pipeline

• Positive Cx611 Phase IIa study results in refractory rheumatoid arthritis
• Cx601 ADMIRE-CD Phase III trial enrollment on plan

Corporate:

• TiGenix successfully renews GMP license for stem cell manufacturing facility in Madrid
• Partnering discussion for Cx601 on-going
• Transfer of corporate development responsibilities to CEO complete

Financial highlights

• ChondroCelect sales for the first three months of 2013 amounted to EUR 1.04 million, up 55% compared to the same period of last year
• EUR 6.8 million cash on hand

"With the sustained ramp-up of ChondroCelect sales, driven by increased uptake and additional reimbursement approvals in new markets, we are moving in the right direction to make ChondroCelect a cash flow positive asset in 2014," said Eduardo Bravo, CEO of TiGenix. "Sales growth is expected to increase in H2 2013 as a result of the anticipated development of the private insurance market in the UK and the launch of ChondroCelect in Spain. On the partnering front, we are still fully engaged in discussions to co-develop Cx601 with a number of parties. And after the positive results of our Phase IIa trial with Cx611 in refractory RA, we have added another high-value clinical asset to our development portfolio and to our business development efforts."

Business update

You can find the full business update on www.tigenix.com

Outlook next 12 months

• Reimbursement decisions in major European countries for ChondroCelect
• Finalize recruitment of Cx601 phase III trial in complex perianal fistula in Crohn's patients
• Partnering agreement for Cx601
• Start of next clinical trial with Cx611

Contact

Eduardo Bravo                              
Chief Executive Officer                 
eduardo.bravo@tigenix.com

Claudia D'Augusta
Chief Financial Officer
claudia.daugusta@tigenix.com

Hans Herklots
hans.herklots@tigenix.com
+32 16 39 60 97

About TiGenix

TiGenix NV (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.