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TiGenix to acquire Orthomimetics

Posted on: Mon, 16 Nov 2009 14:06:00 EST

Symbols: TGXSF

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Nov 16, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
TGXSF | Quote | Chart | News | PowerRating -- TiGenix NV has agreed to acquire all the outstanding shares of Orthomimetics, Ltd., a UK-based medical device company. The transaction is valued at approximately EUR16 million on a debt and cash free basis.

TiGenix is a Belgium-based biomedical company focused on treatments for damaged and osteoarthritic joints.

As part of the consideration, TiGenix will issue approximately 3.7 million new shares to Orthomimetics shareholders.

Deal Value (US$ Million) 23.86
Deal Type                Acquisition
Sub-Category             100% Acquisition
Deal Status              Announced: 2009-11-16

Deal Participants

Target (Company)   OrthoMimetics
Acquirer (Company) TiGenix N.V.

Deal Rationale

This transaction will enable TiGenix to strengthen its product portfolio and biomaterials platform and also strengthen its position in the field of regenerative medicine.

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