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TiGenix provides ChondroCelect update

Date: 10.6.2013 

Leuven (BELGIUM) - June 7, 2013 - TiGenix (NYSE Euronext: TIG), the European leader in cell therapy, today provided an update on the commercial prospects of ChondroCelect, its characterized chondrocyte implantation for symptomatic cartilage lesions in the knee. The Company has received notice from the Haute Autorité de la Santé (HAS) in France that ChondroCelect will not be reimbursed in France. ChondroCelect is reimbursed nationally in Belgium, the Netherlands, and Spain, and through private payers in the UK.

Growth of ChondroCelect sales keeps accelerating. For the first five months of 2013, ChondroCelect sales were €1.9 million, up 59% compared with the same period last year. And this does not yet include sales from the Spanish market.

"We are disappointed by the decision of the HAS, but not completely surprised as it is consistent with their position in 2010," said Eduardo Bravo, CEO of TiGenix. "Importantly, the decision does not impact our objective to turn ChondroCelect into a cash flow positive asset in 2014. We will continue to efficiently allocate our resources to those markets where we are selling such as Belgium and the Netherlands, and build up a commercial presence in Spain and the UK. We will also continue to work on expanding the territories where ChondroCelect is available through local or regional distributors."

For more information:

Eduardo Bravo,                              Claudia D'Augusta
Chief Executive Officer                 Chief Financial Officer
eduardo.bravo@tigenix.com      claudia.daugusta@tigenix.com

About ChondroCelect

ChondroCelect is the first and currently only cell therapy that has been granted market authorisation by the European Union. For more information, including the European Public Assessment Report (EPAR), prescribing information, and the Summary of Product Characteristics (SPC) please visit the European Medicines Agency (EMA) website at www.ema.europa.eu


About TiGenix

TiGenix NV (NYSE Euronext Brussels: TIG) is a leading European cell therapy company with a marketed product for cartilage repair, ChondroCelect®, and a strong pipeline with clinical stage allogeneic adult stem cell programs for the treatment of autoimmune and inflammatory diseases. TiGenix is based out of Leuven (Belgium) and has operations in Madrid (Spain), and Sittard-Geleen (the Netherlands). For more information please visit www.tigenix.com.




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