Update on Capital Increase
Leuven (BELGIUM), June 26, 2009 - TiGenix (NYSE EURONEXT: TIG) announces that the capital increase of EUR 5.4 million as communicated on June 19, 2009, has been completed.
The capital increase was executed following the signing of a long term lease agreement for a production facility located on the Chemelot Campus in Sittard-Geleen, the Netherlands.
The capital increase was subscribed by NV Industriebank LIOF, Particon BV, Limburg Ventures BV and LRM NV.
TiGenix has issued 1,080,000 new shares at EUR 5 per share. The new shares will be admitted to trading on the NYSE Euronext Brussels. The total number of shares outstanding
is 25,651,279.
For more information, please contact:
Gil Beyen ,
Chief Executive Officer
+32 16 39 60 60
+32 16 39 60 98
gil.beyen@tigenix.com
Kris Motmans
representative of Comfi
Corporate Communications
kris.motmans@tigenix.com
About TiGenix
Based in Leuven, Belgium, TiGenix NV (NYSE Euronext: TIG) is a late-stage biomedical company
that focuses on innovative local treatments for damaged and osteoarthritic joints. The Company is
exploiting the power of regenerative medicine to develop durable treatments, validated through
controlled clinical trials, for these indications. TiGenix is developing a portfolio of products that
address specific musculoskeletal problems. The lead indication among these is cartilage damage,
which is a debilitating affliction affecting the mobility and functioning of patients. Western societies
are characterised by ageing populations that place an increasing emphasis on high quality of life and
life-long mobility, and, as such, cartilage problems represent a large and growing unmet medical
need. Current therapies do not provide satisfying, long-term durable repair and TiGenix therefore
believes there is a need for more effective treatments for cartilage damage.
About ChondroCelect
ChondroCelect® is the lead product for TiGenix that is in late stage development for applications in cartilage repair. ChondroCelect consists of characterised cultured chondrocytes derived from the patient's own cartilage and is used for autologous chondrocyte implantation (ACI), a surgical
procedure to treat cartilage defects. Cartilage defects of the knee are very common, and the spontaneous healing capacity of cartilage is limited. The objective of the ChondroCelect technology is to facilitate the regeneration of hyaline-like cartilage that more closely approximates the structure
of healthy normal cartilage. TiGenix has successfully completed a randomised Phase III clinical trial comparing ChondroCelect to the present standard-of-care surgical intervention called microfracture.
The results of this study have formed the basis of the submission in the EU for regulatory approval
which will be followed by a submission in the U.S. The results of this pivotal clinical trial have also
been published in the February 2008 issue of the American Journal of Sports Medicine.
Forward-looking information
This document contains 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 the Company's 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 the Company's 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.
The capital increase was executed following the signing of a long term lease agreement for a production facility located on the Chemelot Campus in Sittard-Geleen, the Netherlands.
The capital increase was subscribed by NV Industriebank LIOF, Particon BV, Limburg Ventures BV and LRM NV.
TiGenix has issued 1,080,000 new shares at EUR 5 per share. The new shares will be admitted to trading on the NYSE Euronext Brussels. The total number of shares outstanding
is 25,651,279.
For more information, please contact:
Gil Beyen ,
Chief Executive Officer
+32 16 39 60 60
+32 16 39 60 98
gil.beyen@tigenix.com
Kris Motmans
representative of Comfi
Corporate Communications
kris.motmans@tigenix.com
About TiGenix
Based in Leuven, Belgium, TiGenix NV (NYSE Euronext: TIG) is a late-stage biomedical company
that focuses on innovative local treatments for damaged and osteoarthritic joints. The Company is
exploiting the power of regenerative medicine to develop durable treatments, validated through
controlled clinical trials, for these indications. TiGenix is developing a portfolio of products that
address specific musculoskeletal problems. The lead indication among these is cartilage damage,
which is a debilitating affliction affecting the mobility and functioning of patients. Western societies
are characterised by ageing populations that place an increasing emphasis on high quality of life and
life-long mobility, and, as such, cartilage problems represent a large and growing unmet medical
need. Current therapies do not provide satisfying, long-term durable repair and TiGenix therefore
believes there is a need for more effective treatments for cartilage damage.
About ChondroCelect
ChondroCelect® is the lead product for TiGenix that is in late stage development for applications in cartilage repair. ChondroCelect consists of characterised cultured chondrocytes derived from the patient's own cartilage and is used for autologous chondrocyte implantation (ACI), a surgical
procedure to treat cartilage defects. Cartilage defects of the knee are very common, and the spontaneous healing capacity of cartilage is limited. The objective of the ChondroCelect technology is to facilitate the regeneration of hyaline-like cartilage that more closely approximates the structure
of healthy normal cartilage. TiGenix has successfully completed a randomised Phase III clinical trial comparing ChondroCelect to the present standard-of-care surgical intervention called microfracture.
The results of this study have formed the basis of the submission in the EU for regulatory approval
which will be followed by a submission in the U.S. The results of this pivotal clinical trial have also
been published in the February 2008 issue of the American Journal of Sports Medicine.
Forward-looking information
This document contains 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 the Company's 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 the Company's 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.
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