TiGenix raises $35.7 million in NASDAQ listing

Cell therapy company TiGenix N.V. (Euronext:TIG; NASDAQ:TIG) raised $35.7 million through the sale of 2.3 million ADSs at $15.50 in a listing on NASDAQ underwritten by BofA Merrill Lynch, Cowen, Canaccord Genuity and BTIG. Each ADS represents 20 ordinary shares. In a regulatory filing Tuesday, TiGenix said it hoped to sell 2.8 million ADSs in the listing.

In 1H17, the company plans to start a U.S. Phase III trial of Cx601 to treat perianal fistulas. It hopes to submit an NDA to FDA based on the results. Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) has exclusive, ex-U.S. rights to Cx601, for which an MAA is under review by EMA. TiGenix expects a decision from EMA in 2H17 (see BioCentury Extra, July 5)...