TiGenix Establishes U.S. Presence
NEW YORK, March 29 /PRNewswire/ -- TiGenix N.V., a Belgium-based biomedical company focusing on functional repair of damaged and diseased musculoskeletal tissues, has established TiGenix Inc. and opened its first U.S. office in New York City.
Most recently, TiGenix Inc. announced its collaboration with the Hospital for Special Surgery in New York City, which will assist in further developing ChondroCelect, its lead cartilage repair product. With a U.S. presence, TiGenix will continue building domestic partnerships with leading medical institutions.
"We are entering the U.S. market because we have a unique product in the orthopaedic field that will enhance the quality of life for American patients," said Gil Beyen, CEO of TiGenix.
ChondroCelect is an innovative cell-based therapy focusing on durable repair of cartilage defects of the knee. The product is used in combination with Autologous Chondrocyte Implantation (ACI), a surgical procedure to treat cartilage defects by using the patient's own cells. Cartilage defects of the knee are common and the spontaneous healing capacity of cartilage is limited. By focusing on the regeneration of stable cartilage, ChondroCelect aims at creating durable repair of cartilage defects and postpones the progression toward osteoarthritis.
TiGenix is finishing its Phase III clinical trial in Europe for ChondroCelect. Once data from the clinical trial is analyzed, TiGenix will work on necessary filings with the U.S. Food and Drug Administration to facilitate ChondroCelect's approval domestically.
"Setting up the U.S. presence is an important step in the approval and launch of our lead product in the largest healthcare market worldwide," Beyen said.
About TiGenix ( http://www.tigenix.com )
TiGenix is a private biomedical company based in Belgium. It was founded in 2000 as a spin-off of the Universities of Leuven and Ghent. The company operates at the cutting edge of regenerative medicine and focuses on the development of innovative local treatments for damaged and osteoarthritic joints.
Its mission is to develop a comprehensive solution for osteoarthritis (OA) by combining cellular therapies with targeted therapeutics. Based on strong scientific evidence that injury to articular cartilage is an important cause of OA, TiGenix's initial focus has been on the treatment of symptomatic cartilage defects in weight-bearing joints. TiGenix' proprietary adult stem cell technology prepares the route to an off-the-shelf product for cartilage repair and to the treatment of other musculoskeletal tissues.
ChondroCelect, is an innovative cell-based therapy focusing on durable repair of cartilage defects of the knee. ChondroCelect is in late stage Phase III clinical development in Europe, with results expected later this year.
About Hospital for Special Surgery ( http://www.hss.edu )
Founded in 1863, the Hospital for Special Surgery, based in New York City, is a world leader in orthopaedics, rheumatology and rehabilitation. It is the oldest orthopaedic hospital in the country and continually ranked among the top surgery centers for orthopaedics and rheumatology in the Northeast by U.S. News & World Report. The HSS Research Institute is internationally recognized as a leader in the investigation of musculoskeletal and autoimmune diseases.
TiGenixCONTACT: Gil Beyen, CEO of TiGenix, +32 (16) 39 60 60, info@tigenix.com ,or Gina Czark of The Dilenschneider Group, +1-312-553-0700,gczark@dgi-chicago.com