TiGenix NV said Eduardo Bravo will depart as director and CEO of the company, effective June 15, following the closing of the first acceptance period in Takeda Pharmaceutical Co. Ltd.'s takeover bid for the company.

Sebastian Wehle will replace Bravo on the board, effective June 13 but subject to confirmation at the next shareholders meeting of TiGenix. Wehle will also be in charge of the company's daily management together with CFO Claudia D'Augusta.

Wehle is a senior director at Takeda and is heading the manufacturing and supply activities for TiGenix's stem cell therapy Alofisel.

Belgium-based TiGenix is a biopharmaceutical company that develops and commercializes therapeutics from its proprietary technology platforms of allogeneic, or donor-derived, stem cells.