Date: 2013-11-20
Type of information: Private placement
Company: Tigenix (Belgium)
Investors: Gri-Cel (Spain)
Amount: € 12 million
Funding type: private placement
Planned used: TiGenix intends to use the proceeds of the private placement mainly for advancing the Company\'s Phase III clinical trial in complex perianal fistulas in patients with Crohn\'s disease (Cx601) and for pursuing market access and reimbursement and advancing the commercial launch and roll out of ChondroCelect in selected European markets.
Others: * On November 20, 2013, TiGenix has announced that on November 19, 2013, after the market closed, it has raised € 12 million through a private placement of 34.188.034 new ordinary shares with Gri-Cel S.A., a fully-owned subsidiary of global healthcare company Grifols S.A., at an issue price of € 0.351 per new share. The issue price is at least equal to the average closing price of TiGenix\' share on NYSE Euronext Brussels over the 30 day period preceding the date on which issuance of the new shares commenced (i.e. 19 November 2013).
In connection with this capital increase, the Board of Directors disapplied the preferential subscription rights of existing shareholders for the benefit of Gri-Cel. The capital increase was decided within the limits of the authorized share capital in accordance with article 6 of the articles of association of TiGenix NV.
The issuance of the new shares is expected to take place on November 22, 2013 provided TiGenix has timely received the proceeds of the private placement from Gri-Cel. The listing on NYSE Euronext Brussels of the new shares will be requested. In this respect, 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.
It is expected that shortly after closing of the transaction two directors of TiGenix will be replaced by two directors proposed by Gri-Cel. TiGenix will in the future offer to Gri-Cel the possibility to evaluate and negotiate potential partnering opportunities in relation to the development and the commercialization of TiGenix products other than ChondroCelect.
Therapeutic area: Autoimmune diseases – Inflammatory diseases - Rheumatic diseases
