Press Releases

Intercytex raises £12 million in financing round

2nd August 2005, Cambridge , UK - Intercytex, the cell therapy company developing products for the advanced woundcare and aesthetic medicine markets, today announces that it has raised £12 million in a private equity financing from its existing shareholders: Avlar BioVentures, Merlin Biosciences, 3i, Cambridge Gateway Partnership, NIF Ventures and Scottish Equity Partners.

“We are extremely pleased to have raised this considerable sum which allows us to significantly advance all our projects,” said Nick Higgins, Intercytex' Chief Executive Officer, “We are fortunate to have such committed and supportive investors.”

The financing will be used to complete Phase III trials of ICX-PRO, Intercytex' active woundcare product, take ICX-TRC, its hair regeneration product, through later stage clinical trials and to move ICX-SKN, a living skin replacement, into the clinic.

Enquiries:

Intercytex
Nick Higgins, Chief Executive Officer: +44 (0)1223 421 962
Richard Moulson , Chief Financial Officer: +44 (0)161 904 4523

Financial Dynamics
David Yates/Davina Langdale: +44 (0)207 831 3113

For further details about Intercytex, please visit www.intercytex.com

About Intercytex:

Intercytex is an emerging healthcare company developing cell therapy products for the woundcare and aesthetic medicine markets. It is using its proprietary expertise in cell therapy to develop products that harness the innate ability of human cells to regenerate and repair the body.

Intercytex has two products currently in clinical development, ICX-PRO and ICX-TRC. ICX-PRO is designed to actively stimulate repair in chronic wounds and will enter Phase III trials shortly. ICX-TRC is a hair regeneration product in Phase I trials. A third product, ICX-SKN, is in preclinical trials being developed as a true skin replacement to overcome the need for skin graft procedures. All Intercytex' products are derived from unmodified normal human cells.

Intercytex commenced operations in 2000 and has raised over £31 million in four private equity financing rounds. The Company has around 50 employees and is headquartered in Cambridge , UK with GMP clinical production facilities, research and development located in Manchester , UK and additional laboratories in Boston , MA.