Madrid, October 1st, 2008.- Cellerix, a leading biopharmaceutical company in the clinical development and production of innovative medicines based on adult stem cells, has obtained a 10M€ debt facility with ETV Capital, a speciality finance provider of venture debt.

“The wealthy financial situation of Cellerix, its well-experienced management as well as the strong pipeline and the specialized profile of the current investors have been key elements in the due diligence precedent to the granting of the loan” said Lance Mysyrowicz, partner at ETV Capital.

In August 2007, Cellerix closed a 27.2M€ financing round, headed by blue chip venture capital firms. In October 2007 the company signed a licence agreement for its leading compound Ontaril^® with Axcan Pharma Inc. for the North-American market.

With these funds, Cellerix “will be able to finance its operations until mid 2010, allowing the finalization of the ongoing clinical programs, and namely the phase III trials needed to submit Ontaril^® for approval in Europe and the proof of concept of its allogeneic follow on”, according to Claudia D’Augusta, chief financial officer.

Ontaril^® is an innovative drug for cellular therapy that uses expanded adult stem cells derived from the patient’s adipose tissue. The results of the Phase II have proved that Ontaril^® is both efficacious and safe for the treatment of Perianal Fistulas in both Crohn and non-Crohn patients.

Ontaril^® is currently in Phase III clinical trials and is expected to be commercialized by 2011.

Notes to editors

Cellerix is a product-focused biopharmaceutical company developing innovative medicines based on cell therapy. The company has two products undergoing clinical trials: Ontaril^® for the treatment of perianal fistulas, currently in Phase III, and Cx501, currently in Phase II for the treatment of Epidermolysis Bullosa. Ontaril^® and Cx501 have orphan drug status by the European Medicines Agency (EMEA).

About ETV CapitalETV Capital is a specialty finance company that provides venture debt solutions to technology companies in Europe, the US and Israel. ETV operates 4 offices: London, Tel Aviv, Geneva and Frankfurt. For more details, please visit www.etvcapital.com.