Today, TiGenix filed for an initial public offering with the U. Ersus. SEC. TiGenix tried to propose this IPO last Oct, only to have the plan fall apart.
The Belgian company hopes to net $42. 9 million with this offering of $52. 8 million worth of United states Depositary Shares (ADS). It plans to offload second . 75 million ADS at $19. 20 per ADVERTISEMENTS (one ADS equals 20 ordinary shares). The share was last traded at 0. 90€ ($0. 96) per share on the Euronext Brussels market.
With this IPO, TiGenix plans to further develop products from its adipose-derived stem cell technology platform. Nearly 1 / 2 of the estimated net from this offering will go to building Cx601 to treat complex perianal fistulas in Crohn’ s i9000 disease. The company plans to complete the process of technology transfer in order to Lonza for Cx601, file an IND to perform a Phase III trial of Cx601, and sponsor patients for that trial. In addition , it hopes to develop Cx611 (an intravenous treatment for severe sepsis) into the Stage III trial recruitment stage, and advance AlloCSC-01 (intracoronary treatment for acute myocardial infarction) until the end associated with Phase I or II clinical development.