TiGenix announces proposed combination with Cellerix and capital increase through a public rights offering
Regulated Information
February 25, 2011
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
TiGenix announces proposed combination with Cellerix and capital increase through a public rights offering
Combination will create the European cell therapy leader with two marketed products and a promising pipeline
Leuven (BELGIUM) / Tres Cantos (SPAIN), February 25, 2011 - TiGenix NV (NYSE Euronext Brussels: TIG) and Cellerix SA, a privately held company based in Spain, announce that the two cell therapy-focused biotechnology companies and Cellerix' shareholders have entered into a contribution agreement to combine the operations of both companies by means of a share for share exchange. The combination of TiGenix' marketed product portfolio and proprietary pre-clinical stem cell platform with a clinical stage allogeneic stem cell platform and pipeline is part of TiGenix' external growth strategy and further strengthens its position as an international leading player in the fast-growing field of regenerative medicine and cell therapy.
TiGenix also announces its intention to raise approximately EUR 15 million through a public rights offering, of which EUR 10 million has already been secured via pre-commitments from certain existing shareholders and new investors. Together with a EUR 18 million capital increase by Cellerix investors prior to the transaction, the combined group is expected to have a proforma cash position of at least EUR 33 million at closing.
Kind regards,
Gil Beyen, CEO
February 25, 2011
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
TiGenix announces proposed combination with Cellerix and capital increase through a public rights offering
Combination will create the European cell therapy leader with two marketed products and a promising pipeline
Leuven (BELGIUM) / Tres Cantos (SPAIN), February 25, 2011 - TiGenix NV (NYSE Euronext Brussels: TIG) and Cellerix SA, a privately held company based in Spain, announce that the two cell therapy-focused biotechnology companies and Cellerix' shareholders have entered into a contribution agreement to combine the operations of both companies by means of a share for share exchange. The combination of TiGenix' marketed product portfolio and proprietary pre-clinical stem cell platform with a clinical stage allogeneic stem cell platform and pipeline is part of TiGenix' external growth strategy and further strengthens its position as an international leading player in the fast-growing field of regenerative medicine and cell therapy.
TiGenix also announces its intention to raise approximately EUR 15 million through a public rights offering, of which EUR 10 million has already been secured via pre-commitments from certain existing shareholders and new investors. Together with a EUR 18 million capital increase by Cellerix investors prior to the transaction, the combined group is expected to have a proforma cash position of at least EUR 33 million at closing.
Kind regards,
Gil Beyen, CEO
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