news
13 November 2012

Genpharm Signs Agreement for Commercialization of ChondroCelect

Share

Genpharm signs agreement for commercialization of ChondroCelect in the Middle East

November 13, 2012,

Genpharm Services FZ-LLC, a pharmaceutical marketing and distribution company in Dubai, United Arab Emirates and TiGenix NV (Euronext Brussels: TIG) today announced that they have signed an exclusive agreement for the commercialization of ChondroCelect® in the Middle East region.

TiGenix and Genpharm have entered into an exclusive commercialization agreement to facilitate the successful commercialization of ChondroCelect in Saudi Arabia, UAE, Kuwait, Bahrain, Qatar, Oman (GCC), Lebanon, Jordan, Iraq and Egypt.

Under the terms of the agreement, Genpharm will facilitate patients’ access to ChondroCelect in the Middle East countries by obtaining the required regulatory approvals, and providing training and product support to surgeons and healthcare professionals in selected orthopedic centers. TiGenix continues to be the marketing authorisation holder and will be responsible for logistics and the manufacturing of ChondroCelect.

“We are pleased to have Genpharm as our partner to help us enter into the emerging healthcare market in the Middle East,” said Eduardo Bravo, CEO of TiGenix. “The Middle East countries are generally affluent, offer state-of-the-art medical care and are very receptive to advanced therapeutics. We very much look forward to work with the Genpharm team and support them in the roll-out of ChondroCelect.”

“We are delighted to work with TiGenix to bring ChondroCelect to patients and orthopedic surgeons across the Middle East region. We have the opportunity to offer an innovative and effective therapeutic solution that will improve the quality of life of many patients suffering from knee cartilage deterioration,” said Karim Smaira, CEO of Genpharm.

About TiGenix

TiGenix NV (Euronext Brussels: TIG) is a leading European cell therapy company with a marketed product for cartilage repair, ChondroCelect®, and a strong pipeline with clinical stage allogeneic adult stem cell programs for the treatment of autoimmune and inflammatory diseases. TiGenix is based out of Leuven (Belgium) and has operations in Madrid (Spain), and Sittard-Geleen (the Netherlands). For more information please visit www.tigenix.com.

About GENPHARM Services

Genpharm Services is a pharmaceutical marketing company, based in the Dubai Biotechnology and Research Park, UAE. Through evidence based medicine, Genpharm provides healthcare organizations with innovative therapeutic solutions in niche and rare genetic disease areas, market access strategies and sustainable commercial solutions in the Middle East and North Africa Region. For more information, please visit www.genpharmservices.com.

For more information

Genpharm Services

Karim Smaira  Chief Executive Officer karim.smaira@genpharmservices.com  +971 4 422 70 10 

Ashwathy Anil BusinessDevelopment  ashwathy@genpharmservices.com  +971 4 422 70 10 

TiGenix NV

Eduardo Bravo  Chief Executive Officer   eduardo.bravo@tigenix.com  

Claudia D’Augusta Chief Financial Officer  claudia.daugusta@tigenix.com

Hans Herklots hans.herklots@tigenix.com  +32 16 39 60 97 

Forward-looking information

This document may contain forward-looking statements and estimates with respect to the anticipated future performance of Genpharm Services and the market in which it operates. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will” and “continue” and similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond Genpharm Services’’ control. Therefore, actual results, the financial condition, performance or achievements of Genpharm Services, or industry results, may turn out to be materially different from any future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of the publication of this document. Genpharm Services disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in Genpharm Services expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by the UAE law.

Latest News