Takeda Pharmaceutical Co. Ltd. notified TiGenix NV of its decision to exercise its option to develop and commercialize Cx601 in Japan and Canada.

The company is including the countries into the scope of its licensing agreement with TiGenix. In July, Takeda acquired the exclusive right to develop and commercialize Cx601 for complex perianal fistulas in Crohn's disease patients outside of the U.S.

Takeda's decision gives TiGenix the right to receive additional future milestone payments of up to €3 million for both countries, or €1.5 million individually, after acquiring marketing approval by respective regulatory authorities in the countries.

In addition, TiGenix is eligible to receive price reimbursement milestones for up to €2 million for both countries, or €1 million individually, as well as double-digit royalties on net sales.