ANNUAL FINANCIAL REPORT 2010 2010 - TiGenix

Fig. 6.7: Positioning of ChondroMimetic and ChondroCelectRegulatory situationIn December 2008, ChondroMimetic, received CE-Mark (EU)approval for the repair of articular cartilage and bone. Clinicalstudies were not required for the device approval, but in anongoing registry study additional safety and efficacy data arebeing collected.In October 2010, TiGenix has officially launchedChondroMimetic at the 9th World Congress of theInternational Cartilage Repair Society (ICRS) in Barcelona,Spain. First distribution agreements have been signed withdistribution partners in Greece, Italy, Poland, Turkey and Spainand initial orders have been shipped.European launch strategyTiGenix’ commercial team has the opportunity to offer twocomplementary products to the orthopaedic surgeons.ChondroMimetic for small cartilage lesions with subchondralbone damage and ChondroCelect for larger lesions limitedto the cartilage. Both products can be used by the sameorthopaedic surgeons and can be sold by the same sales force.ChondroMimetic will increase the product offering of TiGenix’commercial team and is expected to leverage the sales effortsof this team in certain countries 40 . In other countries, whereTiGenix does not (yet) have an own sales team, TiGenix intendsto sell ChondroMimetic through distribution partners.40 Such as Belgium, Luxemburg, The Netherlands, France, Germany, the UnitedKingdom and Spain.123 •