Publication date: 13/06/2018
TiGenix NV (Euronext Brussels and NASDAQ: TIG), an advanced biopharmaceutical company focused on exploiting the anti-inflammatory properties of allogeneic, or donor-derived, stem cells to develop novel therapies for serious medical conditions, today announces that Eduardo Bravo will depart the board of directors and his role as CEO of TiGenix effective as of June 15, 2018.
Following the successful result of the first acceptance period of the takeover bid by Takeda, Eduardo Bravo will be succeeded as a member of the board of directors by Sebastian Wehle. Sebastian will also be in charge of the daily management of TiGenix together with Claudia D'Augusta, CFO of TiGenix, who was granted powers of daily management with a view to ensuring the smooth integration of TiGenix's operations into Takeda, to the extent legally permitted. Consequently, the services agreement between TiGenix and Eduardo Bravo will be terminated effective as of June 15, 2018.
"Eduardo's contribution to TiGenix cannot be overstated", said Jean Stéphenne, Chairman of TiGenix's board of directors. "Working closely with the management team and the board of directors, Eduardo guided TiGenix over the past 13 years into a position of considerable strength within the cell therapy space, becoming the first company to receive a centralized marketing authorization for an allogeneic stem cell therapy in Europe with the approval of Alofisel® (darvadstrocel). This was a very important step for patients and a milestone for the industry more widely. That strength was recognized in Takeda's partnership and bid for TiGenix. With the conditions for the bid now satisfied, it is an appropriate time for Eduardo to depart. He leaves with the thanks of the board of directors, who wish him every success in his future endeavours".
Sebastian Wehle is Senior Director at Takeda, currently leading the Alofisel® manufacturing and supply activities for Takeda. He holds a PhD in pharmaceutical technology in the area of metered dose inhaler formulation. He joined Takeda in 2012 as Production Director. Prior to joining Takeda, Sebastian worked at former Nycomed and Altana in manufacturing and supply chain operations.
The appointment of Sebastian Wehle is effective immediately, subject to confirmation by the next shareholders' meeting of TiGenix.
TiGenix NV (Euronext Brussels and NASDAQ: TIG) is an advanced biopharmaceutical company developing novel therapies for serious medical conditions by exploiting the anti-inflammatory properties of allogeneic, or donor-derived, stem cells. TiGenix is headquartered in Leuven (Belgium) and has operations in Madrid (Spain) and Cambridge, MA (USA). For more information, please visit http://www.tigenix.com.