Intercytex Group plc: Positive clinical data continues to be
generated across product portfolio
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announcement.
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Intercytex Group plc (LSE: ICX) today announces its results for the
year ended 31 December 2007. The Company also reports new clinical
data on all of its regenerative medicine products; VAVELTA®, ICX-PRO,
ICX-SKN and ICX-TRC.
Intercytex is the leading developer of regenerative medicine products
to restore skin and hair. The Company uses its fully integrated cell
technology platform to develop living, human cell-based products, at
commercially viable scale in attractive markets.
PRODUCT HIGHLIGHTS
VAVELTA® - facial rejuvenation and skin damage
* Positive responses with some exceptional results being generated
from field trials of VAVELTA conducted by the
Clinical Practice Group
* High clinician and patient satisfaction scores from three/six
month data in facial rejuvenation and acne scarring Phase II
trials - underlines potential of VAVELTA in rapidly growing
markets
* First revenues mid-2008 with commercial roll-out in UK during H2
2008
* Phase II trial in burns contractures open to recruitment
ICX-PRO (cyzact®) - chronic wounds
* Phase II data from diabetic foot ulcer trial of ICX-PRO shows
very high healing rates
* Recruitment in Phase III trial in venous leg ulcers on track for
completion in Q2 with over 350 patients randomised to date, in
line with previous guidance.
ICX-SKN - skin grafts for acute wounds
* Data announced in June 2007 highlighted first artificial living
skin graft to demonstrate full, consistent wound integration and
persistence - a landmark in regenerative medicine
* Follow up Phase I extension study shows continued integration of
ICX-SKN at 3 months in all 6 subjects, with no evidence of
rejection or wound breakdown
* Phase II trial in basal-cell skin carcinoma excisions to commence
in H2 2008
ICX-TRC - hair regeneration
* Three and six month data from Phase II trial shows increase in
hair count
* Larger data set available in H2 2008
CORPORATE AND FINANCIAL HIGHLIGHTS
* Placing of new shares in May 2007 raised £12m gross
* Comprehensive supply agreement signed with Baxter Healthcare for
use of Tisseel® in ICX-PRO and ICX-SKN
* Milestone payment of US$200,000 received from Bosley under
ICX-TRC option
* Loss before tax for the year of £11.63m (2006: £9.23m)
* Cash and cash equivalents and liquid investments at 31 December
2007 of £12.50m (2006: £10.99m)
Nick Higgins, CEO of Intercytex, commented: "Regenerative medicine,
the restoration and repair of human tissues and organs, has the
potential to revolutionise the treatment of patients. We now have a
maturing portfolio of assets focused on skin and hair all
demonstrating exciting clinical efficacy in large and growing
markets. As the data continues to be reported for each of our
products with highly encouraging results, it underscores the
potential of our technology and the value of Intercytex in the
rapidly developing field of regenerative medicine.'"
There will be an analyst meeting to discuss the results today at
9.30am at the offices of Financial Dynamics at Holborn Gate, 26
Southampton Buildings, WC2A 1PB. For those unable to attend, there
will be a live audio conference call, please call Claire Rowell on
0207 269 7285 for details.
Enquiries
For more information, contact:
Intercytex Group plc
Nick Higgins, Chief Executive Tel: 0161 904 4500
Richard Moulson, Chief Financial Officer Tel: 0161 904 4500
Financial Dynamics Tel: 0207 269 7156
David Yates Tel: 0207 269 7182
Lara Mott
Piper Jaffray Ltd
Will Carnwath Tel: 0203 142 8700
Notes for Editors
Intercytex is a leading regenerative medicine company developing
innovative products to restore skin and hair. Intercytex is using its
fully integrated cell technology platform to develop products that
harness the innate ability of human cells to regenerate and repair
the body.
Intercytex has four products in development:
* ICX-PRO, designed to stimulate active repair in chronic wounds -
in a Phase III trial for VLUs and a Phase II trial for DFUs
* ICX-SKN, being developed as a durable and robust skin replacement
- in a Phase I extension trial
* VAVELTA®, a facial rejuvenation product already introduced to the
UK market
* ICX-TRC, a hair regeneration product - in a Phase II trial
All Intercytex' products are derived from unmodified human cells.
Intercytex commenced operations in 2000 and currently employs around
80 staff. In addition to its head office in Cambridge, UK, it has GMP
compliant clinical production facility plus research and development
laboratories in Manchester, UK. Additional laboratories are located
in Boston, US.
Intercytex' shares trade on the Alternative Investment Market of the
London Stock Exchange under the ticker symbol ICX.L and on the Open
Market and the Xetra trading platform of the Frankfurt Stock Exchange
under the symbol IGJ.F.
Additional information on the Company can be found at
www.intercytex.com
Statements contained within this press release may contain
forward-looking information or statements with respect to the
financial condition, results of operations and business
achievements/performance of Intercytex and certain of the plans and
objectives of management of Intercytex with respect thereto. By their
nature, forward-looking statements involve risks and uncertainties
that may cause actual results to vary from those contained in the
forward-looking statements. In some cases, you can identify such
forward-looking statements by terminology such as 'may', 'will',
'could', 'forecasts', 'expects', 'plans', 'anticipates', 'believes',
'estimates', 'predicts', 'potential', 'continue' or similar
expressions. A number of factors, including the satisfactory
progress of research and development, could cause Intercytex' actual
financial condition, results of operations and business
achievements/performance to differ materially from the estimates made
or implied in such forward-looking statements and, accordingly,
reliance should not be placed on such statements. Forward projections
reflect management's best estimates based on information available at
the time of issue and are not a guarantee of future performance.
Other than as required by applicable law, Intercytex does not
undertake any obligation to update or revise any forward-looking
information or statements to reflect events or circumstances after
the date of this release.
The term "Intercytex" refers to Intercytex Group plc and its
subsidiary undertakings.
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Intercytex
Innovation House, Crewe Road Manchester United
Kingdom
WKN: A0JC52; ISIN: GB00B0762609;
Listed: Xetra Stars in Frankfurter
Wertpapierbörse;