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ANNUAL REPORT 2012 - TiGenix

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are at the heart of the immunomodulatory<br />

properties of eASCs. During the inflammatory<br />

process, IFN-γ is secreted by the patient’s<br />

lymphocytes. When eASCs are injected<br />

into the inflamed site, they are activated by<br />

the IFN-γ, resulting in the expression of the<br />

enzyme IDO. The enzymatic activity of IDO<br />

suppresses the proliferation of activated<br />

lymphocytes, shutting down chronic<br />

inflammation, and thereby supports a natural<br />

healing of the inflamed tissue.<br />

The second property of the eASC, secretion<br />

of repair and growth promoting molecules,<br />

is playing a role after the initial control of<br />

inflammation like in fistula healing.<br />

Expanded adipose tissue<br />

as active ingredient<br />

<strong>TiGenix</strong> has developed its platform using<br />

expanded adipose stem cells (eASC)<br />

extracted from human adipose tissue. By<br />

sourcing cells from adult adipose (fat) tissue,<br />

the company is able to capitalize on the<br />

benefits associated with this type of cells<br />

compared to other cell types (such as stem<br />

cells sourced from bone marrow). The most<br />

important advantages of this approach<br />

are : ease and amount of supply (collected<br />

through a routine liposuction); rich supply of<br />

stem cells (stem cells can represent 2 % of the<br />

total cells of the Stromal Vascular Fraction<br />

(“SVF”) of the fat tissue; a potential yield of<br />

100 to 1,000 times higher than other possible<br />

sources of stem cells; robust phenotype<br />

(eASCs do not require overly elaborate<br />

growth conditions and can be grown<br />

continuously without loss of their primary<br />

characteristics); and a good safety profile.<br />

Allogeneic approach<br />

An allogeneic (based on donor cells)<br />

treatment has a series of advantages when<br />

compared to using autologous (based on<br />

the patient’s own cells) cell products, such<br />

as :<br />

(a) Efficient production of large lots (batches)<br />

of cells :<br />

- Manufacturing scale-up can be applied<br />

- Quality control tests can be applied to<br />

larger lots, reducing cost of manufacturing<br />

- Material of high consistency (individual lots<br />

of a large batch)<br />

(b) Cells are always available :<br />

- Can address emergency indications<br />

- Allows high patient throughput<br />

- Represents a good commercial opportunity<br />

(c) No patient biopsy/tissue procurement<br />

needed :<br />

- Less clinical time and resources<br />

- Avoids taking biopsies from severely ill<br />

patients<br />

- Allow for treatment of patients who do not<br />

possess sufficient tissue or who for any other<br />

medical reason cannot undergo tissue<br />

procurement<br />

(d) Commercial product orientated :<br />

- Readily-available product<br />

60 <strong>TiGenix</strong> I annual report <strong>2012</strong><br />

- Potentially higher margins thanks to<br />

optimized product cost of goods

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