TxCell is developing innovative personalized T cell immunotherapies to restore immune balance in patients with chronic refractory autoimmune diseases. The Company has created a manufacturing process that trains regulatory T cells (Tregs) to recognize a specific antigen (Ag) by disease associated with the sites of inflammation of that disease and to be activated locally after homing to the site of disease. The autologous Ag-specific Treg cells are expanded so that multiple years of therapy can be derived from a single patient blood sample, leading to a personalized therapy that is cost effective. Lead program Ovasave is partnered with Ferring International and is in development for refractory Crohn’s disease, patients who have failed 3 lines of therapy including biologics. A Phase IIb trial is expected to launch in the second half of 2014 with results available in late 2016 or early 2017. A second program is in development for Orphan indication non-infectious (autoimmune) uveitis, and a placebo controlled proof-of-concept study is expected to launch in the first half of 2015.