TiGenix : Business & Financial Results First Quarter 2012

Regulated information May 15, 2012

TiGenix Reports Business & Financial Results for the First Quarter 2012

ChondroCelect Sales up 123% - All Clinical Programs on Track - EUR 16.7 Million Cash

Leuven (BELGIUM) - May 15, 2012 - TiGenix NV (TIG.BR), a leader in the field of cell therapy, today gave a business update and announced the financial results for the first quarter ending March 31, 2012.

Business highlights

Financial highlights

"In the first quarter 2012 we continued to aggressively push our commercial efforts forward," said Eduardo Bravo, CEO of TiGenix. "As a result sales of ChondroCelect are developing in line with the improved traction we observed in the second part of last year. At the same time we are moving ahead of schedule with most of our clinical adipose stem cell programs. We closed the quarter with almost EUR 17 million cash on hand, which is sufficient to execute on our business plan and reach key inflection points."

Business update

ChondroCelect sales increase continues apace

The Company reports net sales growth for the quarter of 123% compared with the same period of last year, and of 62% compared to Q4, 2011, a positive trend reflecting the uptake in Belgium, where we benefit from national reimbursement.

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TiGenix : Business & Financial Results First Quarter 2012