TiGenix establishes
U.S. presence
Leuven (Belgium) and New
York (U.S.), March 28, 2006 - TiGenix N.V, a Belgium-based
biomedical company focusing on functional repair of damaged and diseased
musculoskeletal tissues, has established TiGenix Inc. and opened its
first U.S. office in New York City.
Most recently, TiGenix Inc. announced its collaboration with the
Hospital for Special Surgery (HSS) in New York City, which will assist
in further developing ChondroCelect, its lead cartilage repair product.
With a U.S. presence, TiGenix will continue building domestic
partnerships with leading medical institutions.
“We are entering the U.S. market because we have a unique product in the
orthopaedic field that will enhance the quality of life for American
patients,” said Gil Beyen, CEO of TiGenix. ChondroCelect is an
innovative cell-based therapy focusing on durable repair of cartilage
defects of the knee. The product is used in combination with Autologous
Chondrocyte Implantation (ACI), a surgical procedure to treat cartilage
defects by using the patient’s own cells. Cartilage defects of the knee
are common and the spontaneous healing capacity of cartilage is limited.
By focusing on the regeneration of stable cartilage, ChondroCelect aims
at creating durable repair of cartilage defects and postpones the
progression toward osteoarthritis.
TiGenix is finishing its Phase III clinical trial in Europe for
ChondroCelect. Once data from the clinical trial is analyzed, TiGenix
will work on necessary filings with the U.S. Food and Drug
Administration to facilitate ChondroCelect’s approval domestically.
“Setting up the U.S. presence is an important step in the approval and
launch of our lead product in the largest healthcare market worldwide,”
Beyen said.
About TiGenix ( www.tigenix.com
)
TiGenix is a private biomedical company based in Belgium. It was
founded in 2000 as a spinoff of the Universities of Leuven and Ghent.
The company operates at the cutting edge of regenerative medicine and
focuses on the development of innovative local treatments for damaged
and osteoarthritic joints.
Its mission is to develop a comprehensive solution for osteoarthritis
(OA) by combining cellular therapies with targeted therapeutics. Based
on strong scientific evidence that injury to articular cartilage is an
important cause of OA, TiGenix’s initial focus has been on the treatment
of symptomatic cartilage defects in weight-bearing joints. TiGenix’
proprietary adult stem cell technology prepares the route to an
off-the-shelf product for cartilage repair and to the treatment of other
musculoskeletal tissues.
ChondroCelect, is an innovative cell-based therapy focusing on durable
repair of cartilage defects of the knee. ChondroCelect is in late stage
Phase III clinical development in Europe, with results expected later
this year.
About Hospital for Special Surgery (
www.hss.edu )
Founded in 1863, the Hospital for Special Surgery (HSS), based in
New York City, is a world leader in orthopaedics, rheumatology and
rehabilitation. It is the oldest orthopaedic hospital in the country and
continually ranked among the top surgery centers for orthopaedics and
rheumatology in the Northeast by U.S. News & World Report. The HSS
Research Institute is
internationally recognized as a leader in the investigation of
musculoskeletal and autoimmune diseases.
For more information:
TiGenix
Gil Beyen, CEO +32 (16) 39 60 60
info@tigenix.com
