PharmaCell, TiGenix deal

PharmaCell will purchase TiGenix's cGMP cell therapy production €5.8 million ($7.9 million). PharmaCell will also acquire the facility staff. TiGenix will receive €3.5 million ($4.8 million) up front and a final payment of €750,000 ($1 million) after three years. PharmaCell will continue to manufacture TiGenix's ChrondoCelect at the facility under a contract, which TiGenix said will benefit from a cost relief of €1.5 million ($2.1 million) during the first three years. TiGenix said the deal, which is expected to close "in the coming months," reduces its organizational complexity and eliminates part of its fixed costs. ...