Tigenix and Cellerix combine biotechnology operations

Belgium-based Tigenix and Spain-based Cellerix have announced that the two cell-therapy-focused biotechnology companies and Cellerix’s shareholders have entered into a contribution agreement to combine the operations of both companies by means of a share-for-share exchange.

The combination of Tigenix’s marketed product portfolio and proprietary pre-clinical stem-cell platform, with a clinical-stage allogeneic stem cell platform and pipeline, is part of Tigenix’s external growth strategy.

Tigenix has also announced its intention to raise approximately €15m through a public rights offering, of which €10m has already been secured via precommitments from certain existing shareholders and new investors.

Together with an €18m capital increase by Cellerix investors prior to the transaction, the combined group is expected to have a proforma cash position of at least €33m at closing.