International legal practice Osborne Clarke has advised TiGenix NV on its initial public offering in the United States of 2.3 million American Depositary Shares (ADSs), raising approximately $35.65 million. The completion of the U.S. IPO occurred on 20 December 2016 and the ADSs were listed on NASDAQ under the symbol “TIG”.
TiGenix is an advanced biopharmaceutical company focused on developing and commercialising novel therapeutics from its proprietary platforms of allogeneic expanded stem cells. TiGenix was already listed on Euronext Brussels prior to the NASDAQ listing. TiGenix is headquartered in Leuven (Belgium) and has operations in Madrid (Spain).
The Belgian and Spanish teams of Osborne Clarke joined forces for this transaction and were led by Partner David Haex, who was assisted by Núria Martin, Tonya Aelbrecht, Hadrien Chef, Pierre-Alexandre Bosman and Laura de la Cruz (Corporate) and by Laurent Donnay de Casteau, Olivier Lambillon, Jordi Fábregas and Enric Girona (Tax).
Osborne Clarke also advised TiGenix on the private placement of €10 million in new shares subscribed for by Takeda shortly after completion of the U.S. IPO.