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Takeda to invest €10M in TiGenix

TiGenix NV exercised an option to issue shares to Takeda Pharmaceutical Co. Ltd.

The company will issue 11,651,778 shares at 85.8 euro cents apiece for an equity investment of €10 million.

Takeda owns the rights to TiGenix's Cx601 drug for the treatment of Crohn's disease outside the U.S.

"These additional funds will further strengthen our financial position allowing us to remain fully focused on progressing with the marketing authorization application of Cx601 in Europe, the launch of our Phase III trial to register Cx601 in the United States and advancing with the other clinical assets in our pipeline," TiGenix CEO Eduardo Bravo said in a statement.

The new shares will be issued in early January.