TiGenix has completed EUR12mn capital increase. In total, approximately 34.2mn new shares were issued to Gri-Cel, a wholly owned subsidiary of Grifols. TiGenix will prepare and, after approval by the FSMA, publish a prospectus regarding the admittance of the new shares to trading on NYSE Euronext Brussels, which is expected to take place in the next few weeks. The total number of outstanding shares in TiGenix as of November 22 amounted to 160.5mn.
The funds will allow TiGenix to continue to fully focus on the completion of ADMIRE-CD (Adipose Derived Mesenchymal stem cells for Induction of REmission in perianal fistulising Crohn's Disease), its pivotal Phase III study of its lead product, Cx601, for the treatment of perianal fistulas in Crohn's disease. Cx601 is an adipose-derived allogeneic stem cell therapy.
Additionally, and the funds will be used to strengthen TiGenix' commercial operations and the further launch of ChondroCelect. ChondroCelect for cartilage regeneration in the knee is an implantation suspension of characterised viable autologous cartilage cells.