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(1)

Corporate Presentation

(2)

Forward Looking Statements

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation

of any offer to purchase or subscribe for, any shares in the Company, nor shall any part of it nor the fact of

its distribution form part of or be relied on in connection with any contract or investment decision relating

thereto, nor does it constitute a recommendation regarding the securities of the Company.

This document may contain forward-looking statements and estimates made by the Company, including

with respect to the anticipated future performance of TiGenix and the market in which it operates. 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 the Company's control. Therefore, actual

results, the financial condition, performance or achievements of TiGenix, 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. Forward-looking statements, forecasts and estimates only

speak as of the date of this document and no representations are made as to the accuracy or fairness of

such forward-looking statements, forecasts and estimates. TiGenix disclaims any obligation to update any

such forward-looking statement, forecast or estimates to reflect any change in the Company’s

expectations with regard thereto, or any change in events, conditions or circumstances on which any such

statement, forecast or estimate is based.

(3)

Management Team With Proven Track Record of Success

Managing Director and CEO:

Eduardo Bravo

, MBA

More than 25 years experience in the pharma and biotech industries at Sanofi-Aventis, Recordati,

Cephalon and SmithKline Beecham

CFO:

Claudia D’Augusta

, PhD

More than 15 years experience in equity and debt financing at Aquanima (Santander Group), Apax

Corporate Finance and Deloitte Corporate Finance

CTO:

Wilfried Dalemans

, PhD

More than 25 years experience in the pharma and biotech industries; previous engagements at GSK

Biologicals and Transgène

CMO:

Marie Paule Richard

, MD

More than 25 years experience in the global pharma and biotech industries at Bristol-Myers Squibb,

Sanofi Aventis, GSK, Sanofi Pasteur, Crucell and AiCuris

VP Regulatory Affairs & Corporate Quality:

María Pascual,

PhD

More than 10 years experience in cell therapy companies; specialized in regulatory affairs for

advanced therapies; external adviser to EMA

VP Medical Affairs & New Product Commercialisation:

Mary Carmen Diez,

MD

More than 20 years experience in the biopharmaceutical industry at Meda Pharma, Asta Médica,

Pfizer and Dupont Pharma

(4)

Investment Highlights

Positive Phase III

And Advanced EU

Regulatory

Strategy:

Cx601

Complex perianal fistulas in Crohn’s disease patients in the US & EU

represents a

multi-billion

dollar market opportunity

Pivotal Phase III

allogeneic stem cell asset (local administration of a single dose)

Results met primary endpoint

Statistically superior to placebo

in achieving combined remission at week 24 (p<0.025)

Filing for MAA expected in 1Q16

and launch expected 2H17

Fully-owned asset

Consistent and robust

manufacturing process

Management team has valuable experience in regulatory approval / commercialization process;

first

ever ATMP

1

approved by EMA

Use of data from positive pivotal Phase III trial in EU to support a BLA in the US

FDA´s endorsement through SPA obtained

for pivotal phase III trial in the US

Same primary endpoint as positive EU Phase III trial

Phase III to start 1Q17

Fully-owned asset

• 

Lonza

selected as contract manufacturing organization for Cx601 in the US

Clear US

Regulatory and

Clinical Strategy:

Cx601

• 

AlloCSC-01:

allogeneic cardiac stem cells, a new platform acquired through the acquisition of

Coretherapix, being developed for cardiovascular indications

• 

Randomized, double blind, placebo controlled Phase II trial in acute myocardial infarction ongoing

Interim data expected 2H16

• 

Final one year follow up data expected 1H17

• 

Cx611: Intravenously-administered

allogeneic stem cell product for

severe sepsis (Phase I study

completed)

• 

Severe sepsis Phase ll trial design

has been finalized; expected to

enroll first patient in 4Q15

Valuable Pipeline

Opportunities:

AlloCSC-01 and

Cx611

(5)

Multiple Product Candidates

Product

1

Indication

Preclinical Phase I

Phase II

Phase III

Market

Allogeneic Adipose-Derived Stem Cells

Cx601

(local)

Complex Perianal

Fistulas in Crohn’s

disease

Cx611

(intravenous)

Severe Sepsis

Allogeneic Cardiac Stem Cells

AlloCSC-01

(intracoronary)

Acute Myocardial

Infarction

AlloCSC-02

(intramyocardial)

Cardiology

Characterized Autologous Chondrocytes

ChondroCelect

Knee Cartilage Lesions

EMA-granted Orphan Drug

Partnered

2

FDA-endorsed SPA

(6)

Cx601: Positive Phase lll Data

Local injection of eASCs for the treatment of

complex perianal fistulas in Crohn’s disease patients

(7)

Mechanism of Action: Adipose-Derived Stem Cells

The ability to interact with many players in

the immune system qualify MSCs (including

ASCs) as a potent anti-inflammatory agent

*

Inhibition of pro-inflammatory cytokines

* p<0.05 relative to supernatant from activated PBMCs

Source: De la Rosa et al. Tissue Engineering 2009

PBMCs

Activated PBMCs

PBMCs+ASCs

activated PBMCs+ASCs

ASCs

0

5

10

15

20

IFN-

γ

(ng/ml)

0

1

2

3

4

5

TNF-

α

(ng/ml)

*

*

0

5

10

15

20

ACTIVATED

PBMCs

PBMCs + ASCs

ACTIVATED

%

O

F

C

D

4+C

D

25

+++

O

N

T

O

TAL

C

D

4

* p<0.05 relative to activated PBMCs without ASCs

Source: Tigenix data

(8)

Manufacturing

Consistent and Robust Process

Up to 360 billion cells

can be

obtained from 1 donor

Quality control parameters defined:

Identity

Purity

Potency

Approximately 2,400 finished products

of Cx601

Liposuction

Cell isolation and expansion

Frozen Drug Substance (FDS)

Finished Product

Master cell bank (cryo)

(9)

Perianal Fistulas

A Common Severe Complication of Crohn’s Disease

Fistulas: sores or ulcers that tunnel

through the affected area into

surrounding tissues

Around 11% of adult Crohn’s

disease patients

are affected by

perianal fistulas

70% – 80% of these are complex

Affect anal sphincters

Present multiple tracts

Are recurrent

Are often associated with perianal

abscess

Almost

120,000 adult Crohn’s disease patients

suffer from complex perianal

fistulas in Europe and the US alone =>

compromised QoL, pain, depression

and risk of anal epithelial carcinoma

(10)

Perianal fistulas: treatment options and shortfalls

10

1 L.J. Brandt et al. Metronidazole Therapy for Perineal Crohn’s Disease: a Follow-Up Study, 83 GASTROENTEROLOGY 383-7 (1982) 2 E.S. Goldstein et al., 6 ‑ Mercaptopurine Is Effective in Crohn’s Disease Without Concomitant Steroids, 10 INFLAMM BOWEL DIS 79‑84 (2004) 3 B.I. Korelitz et al., Favorable Effect of 6-Mercaptopurine on Fistulae of Crohn’s Disease, 30 DIGEST DIS SCI 58-64 (1985)

4 B.E. Sands et al., Infliximab Maintenance Therapy for Fistulizing Crohn’s Disease, 350 N ENGL J MED 876‑85 (2004)

5 E. Domenech et al., Clinical Evolution of Luminal and Perianal Crohn’s Disease after Inducing Remission with Infliximab, 22 ALIMENT PHARMACOL THER 1107-13 (2005)

6 J.F. Colombel et al., Adalimumab for Maintenance of Clinical Response and Remission in Patients with Crohn’s Disease: The CHARM Trial, 132 GASTROENTEROLOGY 52-65 (2007)

7 C.B. Geltzeiler et al., Recent Developments in the Surgical Management of Perianal Fistula for Crohn’s Disease, 27 ANN GASTROENTEROL 1-11 (2014) 8 T. Sonoda et al., Outcomes of Primary Repair of Anorectal and Rectovaginal Fistulas Using the Endorectal Advancement Flap, 45 DIS COLON RECTUM

1622‑28 (2002)

9 A. Soltani and A. Kaiser, Endorectal Advancement Flap for Crypto Glandular or Crohn’s Fistula‑inAno, 53 DIS COLON RECTUM 486‑495 (2010)

Treatment options

Efficacy

Safety

Antibiotics

Safety concerns with prolonged use

Poor quality of evidence on fistulas

remission

High rate of fistula relapse on drug

cessation: 72%

1

Infliximab

(Remicade

®

)

Low remission rate of perianal fistulas:

23% after 54 weeks of treatment

4

High rate of relapse: 54% after 54 weeks

of treatment

4

, and 66% one year after

drug cessation

5

Safety remains a concern with long term

use of biologics

Adalimumab

(Humira

®

)

Low remission rate: 33% after 56 weeks

of treatment

6

Safety remains a concern with long term

use of biologics

Immunossuppressants

Poor quality of evidence on fistulas

remission

High rate of fistula relapse on drug

cessation : 67-71%

2,3

High risk of infectious complications

Surgery

Risk of complications (eg. incontinence,

abscesses formation, non-healing

wounds

7,9

)

Risk of recurrence remains (up to

~50-70%, depending on the type of

surgery)

7,8

unless radical, mutilating

(11)

Mode of administration

1.

Fistula curettage and closure of

internal opening (sutured)

2.

Half of Cx601 dose (2 vials) is injected

in the tissue around the internal

opening, making several small blebs

3.

The other half (2 vials) is injected along

the walls of the fistula tracts, also

making several small blebs

Product description

o 

Expanded adipose-derived stem cells

(eASCs) for the treatment of complex

perianal fistulas in Crohn’s disease

o 

4 vials containing 30 million cells in 6 mL

suspension each (total dose 120 million

cells)

Injection sites:

Injection sites:

a. Fistula internal opening b. Fistula tract

(12)

Cx601 Phase III ADMIRE-CD

1

Trial

Robust Phase III Study Designed to Qualify as a Single Pivotal Study

TRIAL SUMMARY

Condition

Complex perianal fistulas in Crohn’s disease patients

Study design

Randomized, double-blind, placebo-controlled trial

All tracts treated. Single injection

2

Status

24 weeks primary analysis finalized. Follow up ongoing

Enrollment

289 patients recruited

Number of sites

50 active sites in 8 countries

Primary endpoint

Combined Remission

3

at week 24 with

α

<0.025

Secondary endpoints

at Weeks 24 and 52

Clinical Remission

4

Response

5

Time to Clinical Remission / to Response

PDAI

6

and other scores

Safety and tolerability

1 Adipose Derived Mesenchymal Stem Cells for Induction of Remission in Perianal Fistulising Crohn’s Disease 2 120 million cells

3 Closure of all treated external openings draining at baseline despite gentle finger compression, and absence of collections > 2cm by MRI 4 Closure of all treated external openings draining at baseline despite gentle finger compression

5 Closure of at least 50% of all treated external openings draining at baseline despite gentle finger compression

(13)

Patients Selection: Key Eligibility Criteria

Men and women aged 18 years or older

Non active or mildly active luminal Crohn’s disease (CDAI

220)

diagnosed for

6 months

Patients with complex perianal fistulas with

2 internal openings and

3

external openings

Fistula draining

6 weeks prior to inclusion

Patients with inadequate response to at least one of the following:

antibiotics, immunosuppressants or anti-TNFs

Medical standard of care was allowed to continue without modification of

treatment dose or regimen

(14)

Treatment

W24

Primary Endpoint

W52

Preparation

Screening

D0

Follow-Up

W6 W12 W18

W36

W-3

W-5

Baseline

MRI

W24

MRI

W52

MRI

MRI: Magnetic Resonance Imaging

week

Randomization

Clinical Assessment

Design: Double-Blind, Placebo-Controlled

14

(15)

Screened

n= 289

Screening

Failures

n= 77

Randomized

n= 212

Cx601

n= 107

Not Treated

n= 4

Treated

n= 103

Treated & post

baseline assessment

n= 103

Placebo

n= 105

Treated

n= 102

Treated & post

baseline assessment

n= 101

Not Treated

n= 3

Safety set

n= 205

ITT

1

set

n= 212

mITT

2

set

n= 204

Largest Study in Complex Perianal Fistulas

(16)

Demographics, PDAI and Fistula Topography

Demographics (ITT)

Cx601

n= 107

Placebo

n= 105

Age (years) mean (SD)

39.0 (13.1)

37.6 (13.1)

Men (%)

60 (56.1)

56 (53.3)

Caucasian (%)

100 (93.5)

96 (91.4)

Weight (kg) mean (SD)

73.9 (15.0)

71.3 (14.9)

PDAI

1

(ITT)

Mean (SD)

6.5

6.7

Topography of Internal &

External Openings (%) (Safety set)

Cx601

n= 103

Placebo

n= 102

One-tract fistula

53.4

68.6

Multiple-tract fistula

46.6

31.4

Similar demographics and PDAI score between arms

Higher proportion of multiple-tract fistulas in Cx601 group

(17)

(ITT

1

Population n= 212)

49.5%

34.3%

0

10

20

30

40

50

60

Cx601

Placebo

p < 0.025

51.5 %

35.6 %

0

10

20

30

40

50

60

Cx601

Placebo

p < 0.025

(mITT

2

Population n= 204)

Cx601: A Major Breakthrough

Primary Endpoint Met

Cx601 significantly superior to placebo in achieving Combined Remission

Patients receiving Cx601 have 44% more chances to achieve Combined Remission

than placebo patients

Efficacy results consistent across all statistical populations

%

%

(18)

Overview of TEAEs up to W24

(Safety Population n=205)

Number of Patients with (%)

n= 103

Cx601

Placebo

n=102

TEAEs

68 (66.0)

66 (64.7)

Related TEAEs

16 (15.5)

26 (25.5)

Withdrawn due to a TEAEs

4 (3.9)

4 (3.9)

TESAEs

17 (16.5)

13 (12.7)

Related TESAEs

5 (4.9)

6 (5.9)

Withdrawn due to TESAEs

3 (2.9)

2 (2.0)

TE(S)AE: Treatment-Emergent (Serious) Adverse Events

If a patient has multiple events of the same severity, relationship or outcome, then they are counted only once in that

severity, relationship or outcome. However, patients can be counted more than once overall.

Favorable safety and tolerability profile of Cx601 and comparable to placebo

(19)

Cx601: A Regulatory De-Risked and Fully-Owned Asset

Preparing for the European Launch in 2017

Clear and fast pathway to the market built on a solid regulatory strategy

Letter of intent submitted to the EMA

1

and MAA

2

filing planned for 1Q 2016

5 Scientific Advice Meetings held with EMA (2 pre-clinical, 2 CMC, 1 clinical)

Team with previous experience in obtaining MAA of cell therapy product

Major commercial opportunity

More than 70,000 adult patients in Europe with high medical need

Protection obtained through EU patent and orphan designation

Fully-owned commercial rights

Commercialization strategy

Partner in certain EU countries

(20)

Cx601: Capturing the Value of the Biggest Market

Preparing for the US launch in 2020

Clear and fast pathway to the market built on a solid regulatory and clinical

development strategy

Type B meeting with FDA

1

confirmed:

Adequacy of existing non-clinical package to support an IND

2

filing

Acceptability of using data from the ADMIRE-CD trial to support BLA

3

FDA endorsement through SPA

4

of US Phase III protocol:

Primary end-point identical to ADMIRE-CD trial

p-value < 0.05 (vs. p-value <0.025 in ADMIRE-CD trial)

US Phase III trial scheduled to start by 1Q 2017

Lonza selected as US contract manufacturing organization for Cx601 in the US

Major commercial opportunity

More than 40,000 adult patients in the US with high medical need

Protection obtained through US patent until 2030

Retain US rights to develop and commercialize

1 FDA: Food and Drug Administration 2 IND: Investigational New Drug 3 BLA: Biological License Application

(21)

TRIAL SUMMARY

Condition

Complex perianal fistulas in Crohn’s disease patients

Study design

Randomized, double-blind, placebo-controlled trial

All draining tracts treated. Single injection

2

Status

In preparation

Enrollment

224 patients screened to allow for 168 randomized patients

Number of sites

At least 50 – 60 active sites in 2 countries (USA & Canada)

Primary endpoint

Combined Remission

3

at week 24

4

with

α

<0.05

Secondary endpoints

at Weeks 24 and 52

Clinical Remission

5

Response

6

Time to Clinical Remission / to Response

PDAI

7

and other scores

Safety and tolerability

Cx601: Phase III US Trial

Trial Design Endorsed by FDA through SPA

1

Procedure in August 2015

1 Special Protocol Assessment 2 120 million cells

3 Closure of all treated external openings draining at baseline despite gentle finger compression, and absence of collections > 2cm by MRI 4 The primary efficacy analysis, which has a week 24 endpoint, will be conducted at the time of the week 52 final analysis

5 Closure of all treated external openings draining at baseline despite gentle finger compression

(22)

* Estimated average prevalence in EU: 180/100,000

1-4

Estimated prevalence in US: 190/100,000

3,6

Crohn’s disease: 1,540,710 *

1-6

Adults: 1,432,860 (93%)

5-6

Perianal fistulas: 157,615 (11%)

7-8

Complex: 118,211 (75%)

9-12

Controlled luminal CD: 78,019 (66%)

13

Refractory fistulas: 70,217 (90%)

13-15

22

Cx601: Estimated Patients Population (EU & USA)

An Attractive Commercial Opportunity

1 Stone MA et al. 2013 2 Hein R et al. 2014 3 Molodecky NA et al. 2012 4 Lucendo AJ et al. 2014 5 Kappelman MD et al. 2007 6 Kappelman MD et al. 2013 7 SEESGCD.1999 8 Gibson PR et al. 2007 9 Eglinton TW et al. 2012 10 Bell SJ et al. 2003 11 Lahat A et al. 2012 12 Molendijk I et al. 2014 13 Sands BE et al. 2004 14 Present DH et al. 1999 15 Domènech E et al. 2005

(23)

Estimated Market Share

Assumptions:

Estimated patients population to be treated with Cx601: ~70,000 patients

Estimated first launch date in Europe: 2H17

Estimated launch dated in US: 2020

35%

20%

50%

Estimated Selling Price

25 K$

33 K$

50 K$

Estimated Sales Potential

350 Mio $

809 Mio $

1,750 Mio $

(24)

Cx611: Phase ll Ready

Intravenous injection of eASCs for the treatment of severe sepsis

(25)

1 The Lancet Infectious Diseases; Volume 12; issue 2; page 89; February 2012

2 Vincent JL et al Sepsis in European intensive care units. Critical Care Medicine 2006; 34: 344-353

3 University Hospital of Valme & Biomedical Research Institute of Seville: Presentation at Farmaindustria meeting July 2014

Severe Sepsis: A High Unmet Medical Need

Systemic illness due to an attack of host

pro-inflammatory cytokines and other humoral

substances commonly induced by a bacterial

infection

An estimated 15—19M sepsis cases occur

worldwide each year

1

Incidence has dramatically increased over

the last decade (CAGR of 8-13%)

2

Sepsis mortality was estimated at 36% in a

recent major European study

2

In the case of septic shock, mortality can

reach up to 80% (28 –50% of patients die

within the first month of diagnosis)

3

Current molecular approaches to the

treatment of sepsis have inadequately

addressed the complex immuno-modulatory

pathways involved in sepsis pathogenesis

(26)

eASCs Can Protect In Severe Sepsis

Cx611 reduces mortality in animal models of sepsis

This effect is due to a combination of reducing pro-inflammatory and increasing

anti-inflammatory mediators, production of anti-microbial effectors, and increased

phagocytosis

Source: Gonzalez-Rey, 2009

* p < 0.001

LPS

1

Model

CLP

2

Model

26

1 LPS: lipopolysaccharide. LPS model is based on endotoxemia induced by high-dose of endotoxin

(27)

CLP

model

of pro-inflammatory mediators

#

of anti-inflammatory mediator

of inflammatory cells

L

PS

m

o

d

el

* p<0.001

(28)

Cx611: Phase I results and Next Steps

Phase II In Severe Sepsis Expected to Start 4Q 2015

CELLULA Phase I trial results

250k, 1M, 4M eASC/kg and placebo administered to 32 healthy volunteers (8 per group)

Favorable safety and tolerability profile of Cx611, consistent with Phase I/IIa in refractory RA

patients

SEPCELL Phase Ib/IIa study in severe sepsis to start 4Q 2015

Randomized, double blind, parallel groups, placebo controlled, multicenter study

180 patients (90 per group) with sCABP

1

requiring mechanical ventilation and/or

vasopressors, admitted to the ICU. At least 50 centers in at least 4 countries

80M eASC or placebo on days 1 and 3 (160M in total) in addition to standard of care

therapy. 90 days follow up

Primary endpoint: Adverse event and potential immunological host responses against the

administered cells

Secondary endpoint: reduction in the duration of mechanical ventilation and/or vasopressors

needed and/or improved survival, and/or clinical cure of the CAPB, and other

infection-related endpoints

28

(29)

AlloCSC-01: Phase ll interim data in <12 months

Intracoronary administration of allogeneic cardiac stem cells for the

(30)

AlloCSC-01: Preventing Congestive Heart Failure

Myocardial Repair may be the only Feasible Alternative

1,9M Acute Myocardial Infarctions (US+EU)

1

occur annually, mostly treated by PCI

2

and stent

implantation

Successful treatment of AMI has contributed to a Chronic Heart Failure epidemic (26M

patients worldwide

3

)

CHF post-AMI is a terminal disease

with an annual mortality rate of ~5% after the first

episode, for which no curative treatment exists with the exception of heart transplantation

In 2015, the AHA estimated that the direct and indirect cost of coronary heart disease, the

main cause of myocardial infarction, was $182 billion and is expected to reach $322 billion in

2030. Similarly the cost of heart failure in the United States was estimated at $24 billion for

2015, reaching $47 billion in 2030

4

 

An attractive market for a treatment able to mitigate or delay the onset of CHF

30

1 Datamonitor: Stakeholder Insight: Acute coronary syndromes, DMHC2347, 2007 2 PCI: Percutaneous Coronary Intervention

3 Ambrosy PA et al., J Am Coll Cardiol. 2014;63:1123-1133. 4 Circulation. 2015 Jan 27;131(4):e29-322.

(31)

AlloCSC-01: A Regenerative Treatment Post-AMI

Preventing the Onset of Chronic Disease

The formation of a non-functional scar tissue gives rise to a process of ventricular remodeling

whereby the myocardium tries to compensate the effect of the injury

Over time the heart dilates losing its contractile capacity causing the onset of CHF. This is a

terminal condition with no treatment other than transplantation

The severity of this process is related to the size of the scar resulting from the AMI. Smaller

scars are related to better outcomes

1

 

Myocardial repair seems to

be the only feasible

treatment to address the

post-acute phase of the

disease and prevent the

onset of chronic heart

failure (CHF)

(32)

CARDIAC  REMODELING    

CARDIAC  FUNCTION    

AlloCSC-01: Efficacy Demonstrated in Pig Model

Efficacy  Data  from  MRI

1

 

Histological  Analysis  

!

!

CONTROL  

AlloCSC-­‐01  

80#

90#

100#

110#

120#

130#

140#

150#

CO

NT

RO

L#

25

M#

50

M#

EDVi#

30#

40#

50#

60#

70#

80#

90#

100#

CO

NT

RO

L#

25

M#

50

M#

ESVi#

30#

35#

40#

45#

50#

55#

60#

CO

NT

RO

L#

25

M#

50

M#

EF###

*

*

*

1 MRI: Magnetic Resonance Imaging 2 EDVi: End-Diastolic Volume Index 3 ESVi: End-Systolic Volume Index 4 EF: Ejection Fraction

*

p-value < 0.05

AlloCSC-01 prevents cardiac remodelling after infarction preserving heart function

AlloCSC-01 reduces scar size promoting formation of new contractile tissue

Significant dose effect observed

32

(33)

CAREMI Phase I/II Trial Finalizing Recruitment

Safety and Efficacy of

Intracoronary Infusion of Allogeneic Cardiac Stem Cells in

Patients with Acute Myocardial Infarction (AMI)

TRIAL SUMMARY

Condition

Acute Myocardial Infarction

Study design

AlloCSC-01 administered 5-7 days after

PCI

4

Phase 1

. Open label dose

escalation in 6 patients

Phase 2

: Placebo controlled, 49

patients randomized 2:1 (35M cell

dose in active arm)

Recruitment

Phase 1:

Completed

Phase 2:

36 of 49 treated, set to

complete recruitment in 4Q 2015

# of centers

8 sites

Primary endpoint

Mortality and MACE

30 days

5

from any cause at

Secondary

endpoints (6 and

12 months)

Safety: Mortality and MACE

Efficacy: evolution of infarct size,

biomechanical parameters by MRI

Clinical parameters: 6m walk test, NYHA

6

scale

Completion

1H17 (Interim data 2H16)

PATIENT SELECTION

Initial clinical pre-screening:

Males, females

18 years and

80 years

Patients who present a STEMI

1

Killip

2 on admission

Successful revascularization by PCI (TIMI

2

= 3)

within 12h after the onset of symptoms

EF

50% by echocardiography (day 2 after

infarct symptoms)

EF

45% by MRI on D3-5 post-STEMI

Infarct size (1

st

MRI) >25% in LV

3

Bare-metal stents or second generation drug

eluting stent at PCI

The infarct culprit coronary artery is adequate

for treatment administration and the procedure

is technically feasible

The patient is stable and in adequate clinical

condition to undergo the procedure

1 STEMI: ST-Segment-Elevation Myocardial Infarction 2 TIMI: Thrombolysis In Myocardial Infarction 3 LV: Left Ventricle

4 PCI: Percutaneous Coronary Intervention 5 MACE: Major Adverse Cardiac Events

(34)

In the dose-escalation open-label phase, 6 patients were treated and 5 of them were

followed up for 6 months

Patients received a single injection of 11 million (M), 22M or 35M cells of AlloCSC-01 (n=2

each) by intracoronary infusion 5 to 7 days after Percutaneous Coronary Intervention (PCI)

Data presented at the

European Society of

Cardiology

meeting in London, showed that

AlloCSC-01 has a good safety profile as no

adverse events or Major Adverse Cardiac

Events (MACE) were observed during the 6

month follow-up period

Preliminary efficacy data showed a reduction

in the infarct size, and a LVEF improvement

on MRI, over the 6-month follow-up period

(n=5; p<0.05 for both parameters)

*

p-value < 0.1

**

p-value < 0.05

34

CAREMI Phase I/II Trial

Positive Preliminary Results from Phase I Presented at ESC

1 2 3

1 LVEF (%): Left Ventricular Ejection Fraction % change versus screening MRI 2 IS (mL): Infarct Size

(35)

Key Milestones, IP, Facts and

Investment Highlights

(36)

Product

2014

2015

2016

2017

Cx601

(local)

Europe

US

AlloCSC-01

(IC)

acute

myocardial

infarction

Cx611

(IV)

severe

sepsis

ChondroCelect

ü

Key Milestones

3Q15 Phase 3 primary

endpoint met (24 weeks)

2Q16 study results

(1 year follow-up)

1Q16 EMA filing

3Q14 CMO

selection

2H16 tech

transfer finalized

4Q14 SPA

submission

Increase market penetration in existing countries

Expand geographic reach through new market entry

4Q14 Phase 3

enrollment

completed

1Q17 pivotal

Phase 3 initiated

2H17 EU

launch

ü

3Q15

positive SPA

ü

ü

1Q14 manufacturing

facility sold

2Q14 licensed to

SOBI

2H16 Phase 2

interim analysis

1H17 Phase 2

study results

1Q15 Phase 2

enrollment initiated

ü

4Q15 Phase 2

enrollment completed

ü

ü

YE16

IND filing

ü

4Q14 Phase 1

initiated

2Q15 Phase 1

study results

4Q15 Phase 2

enrollment initiated

ü

2Q17 Phase 2

enrollment completed

YE17 Phase 2

study results

ü

36

(37)

Key Intellectual Property Patent Portfolio in Cell Therapy

27 patent families

related to cell therapy products

Pending & granted patents in over 20 jurisdictions including the US;

expiry dates

2024 onwards

Patent covering eASC population and therapeutic uses granted in EU recently

Key patent for Cx601 (PCX007) granted in US, AU, RU, MX, IL and NZ

Patent protects use of ASCs in treatment of fistula

Complementary protection possible through additional patents under review

Portfolio covers key features of TiGenix’s

chondrocyte and stem cell platforms

Expanded cell compositions and preparations

Use of expanded cells in treatment of broad range of indications

Cell preparation methods & delivery systems

FTO for indications in clinical development

confirmed by external counsels

US: Morrison & Foerster

(38)

Key Facts About TiGenix

Headquarters / Operations

Leuven, Belgium / Madrid, Spain

Employees

Approximately 70 employees

Stock Exchange

Euronext Brussels. Ticker: TIG

Market Capitalization

Approx. EUR 155M October 14, 2015

Reference Shareholders

28% held by Grifols, Genetrix and Novartis

Liquidity

~72% free-float, of which ~30% held by institutional investors

Analyst Coverage

6 analysts covering the stock, of which four are independent

Cash and Cash Equiv.

EUR 22.7M at June 30, 2015

Convertible Bond

Principal amount for EUR 25M due in 2018

38

Note: Numbers reflect EUR/USD = 1.12432 as of 09/30/15

(39)

Investment Highlights

Positive Phase III

And Advanced EU

Regulatory

Strategy:

Cx601

Complex perianal fistulas in Crohn’s disease patients in the US & EU

represents a

multi-billion

dollar market opportunity

Pivotal Phase III

allogeneic stem cell asset (local administration of a single dose)

Results met primary endpoint

Statistically superior to placebo

in achieving combined remission at week 24 (p<0.025)

Filing for MAA expected in 1Q16

and launch expected 2H17

Fully-owned asset

Consistent and robust

manufacturing process

Management team has valuable experience in regulatory approval / commercialization process;

first

ever ATMP

1

approved by EMA

Use of data from positive pivotal Phase III trial in EU to support a BLA in the US

FDA´s endorsement through SPA obtained

for pivotal phase III trial in the US

Same primary endpoint as positive EU Phase III trial

Phase III to

start 1Q17

Fully-owned asset

• 

Lonza

selected as contract manufacturing organization for Cx601 in the US

Clear US

Regulatory and

Clinical Strategy:

Cx601

• 

AlloCSC-01:

allogeneic cardiac stem cells, a new platform acquired through the acquisition of

Coretherapix, being developed for cardiovascular indications

• 

Randomized, double blind, placebo controlled Phase II trial in acute myocardial infarction ongoing

Interim data expected 2H16

• 

Final one year follow up data expected 1H17

• 

Cx611: Intravenously-administered

allogeneic stem cell product for

severe sepsis (Phase I study

completed)

• 

Severe sepsis Phase ll trial design

has been finalized; expected to

enroll first patient in 4Q15

Valuable Pipeline

Opportunities:

AlloCSC-01 and

(40)

Corporate Presentation

October 2015

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