Grifols announces new acquisition: 21.3% of biotechnology firm TiGenix
TiGenix, a leading company in cell therapy, will begin phase III trials on a treatment for perianal fistulae in patients with Crohn’s disease.
By Biocat
Just days after making public their purchase of the diagnostic division of Novartis, Grifols has announced a new acquisition: 21.3% of Belgian biotechnology firm TiGenix, which specializes in cell therapy. The €12-millions investment has been carried out through Gri-Cel, the company that manages R&D into gene and cell therapy products for the group.
TiGenix has a pipeline of adult stem cells programs in the clinical phase. This biotech company expects to devote this capital to phase III clinical trials on a treatment for perianal fistulae in patients with Crohn’s disease (Cx601), which will be carried out in 45 centers in eight countries, and could be launched to market in 2015.
They will also prepare the launch of their star product, ChondroCelect for cartilage repair in the knee, in several European countries. ChondroCelect was approved by the European Medicines Agency (EMA) in 2009 as an advanced medical therapy and is currently sold in Germany, Belgium, Spain, Finland, Luxemburg, the Netherlands and the United Kingdom. According to TiGenix’s calculations, nearly 130,000 patients in Europe and the United States could benefit from this sort of treatment. Sales of ChondroCelect in 2013 rose 21%, to €3.1 millions.
Once the transaction has been finalized, two members of the TiGenix Board of Directors will be replaced with members nominated by Gri-Cel.
More information is available on the TiGenix website.