ANNUAL FINANCIAL REPORT 2010 2010 - TiGenix

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3.7.1 Categories of potential investors ...................................................... 673.7.2 Intentions of the Existing Shareholders ................................................ 683.7.3 Pre-allocation information ............................................................ 683.7.4 Over-allocation and “green shoe” ..................................................... 683.8 Placing and underwriting of the Offering ........................................... 683.8.1 Irrevocable take up commitments .................................................... 683.8.2 Underwriting Agreement............................................................. 693.9 Admission to trading and dealing arrangements .................................... 703.9.1 Admission to trading of the Contribution Shares and listing places ..................... 703.9.2 Admission to trading of the Preferential Rights / New Shares and listing places . . . . . . . . . 703.9.3 Liquidity contract .................................................................... 703.9.4 Financial service ..................................................................... 703.10 Costs of the Contribution and the Offering .......................................... 703.11 Dilution ............................................................................. 713.11.1 Shareholding before the Contribution and after the Contribution(and before the Offering)* ............................................................ 713.11.2 Scenario 1: Existing Shareholders exercise all their Preferential Rights ................... 723.11.3 Scenario 2: Existing Shareholders exercise no Preferential Rights ....................... 723.12 Lock-up and standstill agreements .................................................. 734. General information about THE COMPANY and its share capital ............ 764.1 General. ............................................................................. 764.2 Corporate purpose .................................................................. 764.3 Group structure ..................................................................... 764.4 Share capital and shares............................................................. 774.4.1 Share capital and Shares .............................................................. 774.4.2 Authorised capital .................................................................... 804.4.3 Description of rights and benefits attached to Shares.................................. 80viii • <strong>TiGenix</strong> • Rights Offering
Page 2 and 3: TiGenix NV(Public limited liability
Page 4 and 5: Table of ContentsSummary ..........
Page 8 and 9: 4.5 Warrants ......................
Page 10 and 11: 6.13 Litigation ...................
Page 12 and 13: 10. Report regarding unaudited pro
Page 14 and 15: Other sources of funding include th
Page 16 and 17: administration of ASCs), which is s
Page 18 and 19: • To promote the clinical develop
Page 20: Consolidated income statement dataY
Page 23 and 24: Unaudited pro forma statement of fi
Page 25 and 26: Issuance of the Contribution Shares
Page 27 and 28: Main Terms of the Offering AND ADMI
Page 29 and 30: Dilution simulationsThe tables belo
Page 31 and 32: CalendarPublication in the Belgian
Page 33 and 34: Prospectus DirectiveDirective 2003/
Page 35 and 36: commercialisation programmes will d
Page 37 and 38: the rules and regulations regarding
Page 39 and 40: TiGenix’ expanded adipose derived
Page 41 and 42: For some market opportunities, the
Page 43 and 44: There can be no assurance that the
Page 46 and 47: Disclaimers and noticesThe Offering
Page 48 and 49: Accordingly, any person making or i
Page 50 and 51: Forward-looking informationThis pro
Page 52 and 53: The consolidated financial statemen
Page 54 and 55: 2. Information ABOUT the Contributi
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the vote on the items referred to i
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in writing provided that the Compan
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All of the Company’s Shares are f
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2.9 Takeover bids instigatedby thir
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(c) Other taxable legal entitiesFor
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(II) Non-resident companies or enti
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The €18,155,669.74 cash that woul
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3.2.2 Capitalisation and indebtedne
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Thousands of Euro (€) TiGenix Cel
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AdjustmentsAdjustments were made to
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(b)Subject to restrictions under ap
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Expected timetable of the OfferingP
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(the “Available Preferential Righ
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3.11 DilutionThe Contribution cause
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3.12 Lock-up and standstillagreemen
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The table below sets out the number
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The Company is constructing its new
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Issuance priceper Share (€)(incl.
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• of which the voting right was s
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4.6 Outstanding financialinstrument
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5. Corporate governanceThis prospec
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(c)(d)(e)(f)Not being an employee o
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The following paragraphs contain br
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Litigation statement concerning the
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and biotech industries through diff
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The scientific and clinical advisor
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5.7 Shares and warrants heldby dire
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5.7.3 TiGenix Stock option planTiGe
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• in May 2010, Cellerix issued 49
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5.10 Relations with significantshar
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in Barcelona, Spain (September 2010
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6.3 History and development ofthe c
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6.4 Market opportunityMusculoskelet
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While debridement and lavage is the
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Fig. 6.3: Global Market Opportunity
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6.5 Marketed products andCommercial
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In June 2010, TiGenix presented the
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In Germany, ChondroCelect obtained
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Fig. 6.5: ChondroMimetic process st
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Fig. 6.7: Positioning of ChondroMim
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lesions. This finding offers the pe
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Granted patentsThe granted patents
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6.9 CompetitionChondroCelect compet
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6.11 FacilitiesFacilities in Belgiu
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6.14.2 Competitive strengthsTiGenix
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Fig. 6.8: Overview of estimated pat
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The direct medical cost of treating
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Allogeneic approachAn allogeneic tr
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Of 2,391 patients included in the s
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The secondary objective is to obtai
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Exclusive License AgreementCellerix
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application protecting a method for
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• Mesoblast (Australia): Largest
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7. Management’s discussion andana
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7.2.3 Selling, general and administ
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Sales 46 0Other revenues 986 321Tot
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Net cash provided by/(used in)opera
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7.5 Consolidated statement of finan
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7.9 Future funding requirementsIn t
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In Germany, thirty-six German hospi
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8.1.2 Consolidated balance sheetYea
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8.1.4 Consolidated statement of cha
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Their adoption has not led to any m
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Depreciation is charged so as to wr
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The Company has started in 2010 the
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8.1.5.5 Personnel costsYears ended
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8.1.5.8 Loss per ShareBasic loss pe
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8.1.5.11 InventoriesThe carrying va
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On April 23, 2009 a total of 6,790
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8.1.5.19 Trade accounts payableYear
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As regards the above valuation, the
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The warrants were granted to select
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8.1.5.25 Accounting for share-based
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(1) Name (2) Source (3) Description
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Years ended December 31Thousands of
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8.2 Statutory auditor’s reporton
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9. Stand-alone Financial informatio
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9.1.3 Stand-alone cash flow stateme
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(d)Research and development of engi
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In view of the results of the FATT
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InventoriesInventories are carried
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Currency exchange risk:Exchange rat
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9.1.5.6 Financial resultBelow is th
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9.1.5.8 Loss per shareThe basic los
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9.1.5.11 Other financial assetsNon-
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The “Receivables” balance corre
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9.1.5.16 Other financial liabilitie
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9.1.5.20 Equity Based Incentive Pla
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As of July 27, 2010, Cellerix’ bo
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9.1.5.25 Subsequent eventsContribut
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11. BUSINESS AND SCIENTIFIC Glossar
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Progenitor cellProteoglycansRARegen
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December 16, 2009Transparency Infor
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egulatory environment and to contri
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Appendix 3: Overview of Patentsand
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TitleMarker genes for use in the id
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B. Patents of CellerixThe table bel
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C. Trademarks of TiGenix and its su
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Appendix 4: BibliographyThe followi
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Hunziker, E. B., Quinn, T. M., and
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Von Der, Mark K., Gauss, V., von de
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CELLERIX S.A.MANAGEMENT REPORT(Fina
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1. The year in briefThe Company has
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3. Business developmentCellerix is
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(l)The contracting of services rela
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9. Post-balance sheet eventsOn 25 F
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1. The year in brief2009 was a very
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4. Business development7. Sharehold
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Decisions will be adopted by absolu
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1. The year in brief2008 has been a
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4. Business developmentIn 2008 Cell
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(l) The contracting of services rel
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ANNUAL FINANCIAL REPORT 2010TiGenix
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ANNUAL FINANCIAL REPORT 2010 2010 - TiGenix

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