Expert Corporate Governance Service (ECGS)
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Proxy Report 07/06/2018

In general, TiGenix is in compliance with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 4, the board of directors seeks approval of the Company's remuneration report. Since ECGS does not approve of LT incentive plans that do not operate one or more challenging performance conditions, it recommends to vote OPPOSE. On January 5, 2018, TiGenix announced an offer by Japan-based Takeda Pharmaceuticals Company Ltd, to acquire all its outstanding shares at a price of EUR 1.78 per share, which represents an enterprise value of approximately EUR 488 million.

Tigenix NV

TiGenix develops and commercializes cell therapy products. Co.'s stem cell programs are based on a validated platform of allogeneic expanded adipose-derived stem cells (eASC) targeting autoimmune and inflammatory diseases. Co.'s main product, ChondroCelect, is a cell-based product that is used for cartilage repair in the knee. Co.'s is also involved in developing Cx601, which is in Phase III clinical trial for the treatment of complex perianal fistulas in patients suffering from Crohn's disease; Cx611, which has completed a Phase IIa clinical trial for the treatment of rheumatoid arthritis; and Cx621, which has completed a Phase I trial for the treatment of autoimmune diseases.


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Expert Corporate Governance Service (ECGS)

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