BioCentury
ARTICLE | Company News

TiGenix to acquire Cellerix

February 26, 2011 1:03 AM UTC

TiGenix N.V. (Euronext:TIG) will acquire fellow cell therapy company Cellerix S.A. (Madrid, Spain) in a stock deal that values Cellerix at EUR 58 million ($79.8 million). Cellerix shareholders will own 49% of the combined company, while TiGenix shareholders will own the remaining 51%. TiGenix said the companies' IP portfolios are comparable but their technology platforms will complement each other. TiGenix added that the acquisition strengthens its position in regenerative medicine and cell therapy. TiGenix's ChrondoCelect, a cell-based therapy, is approved in the EU to treat cartilage defects of the femoral condyle of the knee. The initial focus of the combined company will be damaged and arthritic joints with future expansion planned into other inflammatory and autoimmune disorders. Cellerix's Cx601, which comprises expanded stem cells obtained from allogeneic adipose tissue (eASCs), has completed Phase IIa testing in complex perianal fistulas in Crohn's disease (CD) patients. ...