The Role of Biotechnology in Europe's Responsible Innovation - Tigenix
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Short listed SMEs for the SME Award
TiGenix is a biomedical company that focuses on Regenerative Medicine to develop durable treatments for damaged and diseased skeletal tissues.
TiGenix is based in Leuven, Belgium, and was founded in 2000.
Europe’s ageing population is putting national healthcare systems under unprecedented financial, economic and social strain. Our elderly population will nearly double over the next 50 years and, for our elderly, quality of life will be closely linked to life-long mobility. This means that effective treatments must be found for musculoskeletal problems which are a major burden on individuals, their families and health and social care systems. They are the most common cause of severe long-term pain and physical disability, and they affect millions of people across Europe. TiGenix aims to provide solutions for a large and growing unmet patient medical need in this area.
The promise of the emerging regenerative medicine industry is the ability to develop therapies that can result in long-term, durable repair, regeneration and replacement of damaged or degenerated cartilage or menisci with a full restoration of the biological and mechanical functions of the tissue, to prevent further degeneration of the joint, and to halt the onset and progression of osteoarthritis.
TiGenix uses a proprietary stem cell and biomaterials platform, which will continue to generate candidate products that address specific musculoskeletal problems. The lead indicator is cartilage damage, which affects patient’s mobility.
Comment from the EuropaBio judging panel for the Most Innovative European SME on why TiGenix has been shortlisted for the award:
“With Europe’s aging demographic, regenerative medicine is rapidly becoming one of the most important areas for healthcare innovation. TiGenix is demonstrating the potential of stem cells and innovative biomaterials to address the important area of musculoskeletal disease. Their technology, which uses the patient’s own cells for cartilage regeneration in the knee, is the first cell-based product to be centrally approved in Europe. This experience gives TiGenix an advantage in progressing its groundbreaking products to treat joint disorders and osteoarthritis. In spite of the difficult and unpredictable financial climate of the past 18 months, TiGenix has been successful in raising capital to support growth validating its very attractive long term potential.”