ANNUAL REPORT 2012 - TiGenix

6.3.5. Funding history
Since its incorporation, the Company raised approximately EUR 111.6 million in equity financing.
The table below provides a chronological overview of the various financing rounds.
Year Key funding milestones
2000 Incorporation of TiGenix
2001 First financing round (EUR 1 million)
2003 Second financing round (EUR 12 million)
2005 Third financing round (EUR 16 million)
2007 IPO (EUR 46 million)
2009 Further financing rounds (EUR 5.4 million + EUR 7.7 million)
2011 Rights issue (EUR 15.2 million)
2012 Accellerated bookbuilt offering (EUR 6.7 million)
In addition, the Company raised approximately
EUR 1.6 million through exercises of warrants
between 2005 and 2010.
Other sources of funding include grants and
“soft loans” as listed in detail in section 6.8,
as well as limited income from licenses and
research collaborations.
6.4. MARKETED PRODUCT :
CHONDROCELECT
6.4.1. Product and technology
ChondroCelect, indicated for cartilage
repair in the knee, is to date the only
approved cell-based product in Europe. It is
the first cell-based product that successfully
completed the entire development track
from research through clinical development
to European approval through the
centralized procedure. ChondroCelect
received Marketing Authorisation in
October 2009 as the first Advanced Therapy
Medicinal Product, and was approved
for reimbursement in Belgium in February
2011, and in the Netherlands in June 2012
(retroactively to January 2011). While
preparing for reimbursement in other key
markets, the Company is launching and
marketing ChondroCelect in selected
European markets. A commercial core team
is in place and, apart from the Benelux
countries, sales have been generated in
Germany, Spain and the United Kingdom.
TiGenix has distribution agreements in place
for Finland and the Middle East region.
ChondroCelect is a cell-based medicinal
product for use in an autologous
chondrocyte implantation in which cells are
taken from the patient’s own knee, multiplied
to reach a large quantity, and then finally
re-implanted at the site of the defect.
ChondroCelect is indicated for the repair of
single symptomatic cartilage defects of the
femoral condyle of the knee (International
Cartilage Repair Society (“ICRS”) grade III or
IV) in adults.
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