TiGenix buys Coretherapix to expand its pipeline and enter cardiology field
TiGenix (Euronext Brussels: TIG) on Thursday said it has acquired cell therapy company Coretherapix for 6.7 million euros ($7.3 million) in a cash and stock deal to expand its pipeline and break into the field of cardiology.
In addition to the cash component, TiGenix will pay about 5.5 million euros in shares. Genetrix, the owner of Coretherapix, will also receive up to 15 million euros in shares depending on the results of the ongoing clinical trials.
Coretherapix is a cell therapy company with an ongoing Phase II clinical trial of allogeneic cardiac stem cells in acute myocardial infarction (AMI).
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