Press Releases

Facial rejuvenation product (ICX-RHY) successfully completes Phase I Study

Cambridge, UK, 20 July 2006 – Intercytex (LSE: ICX), the cell therapy company developing products for the advanced woundcare and aesthetic medicine markets, today announces the successful completion of a Phase I study of ICX-RHY, its novel cell therapy product for facial rejuvenation.

The Phase I study, conducted in collaboration with Prof. Nick Lowe MD FRCP at the Cranley Clinic, London, consisted of a placebo-controlled safety and tolerability study in 10 healthy volunteers. Each subject received a course of three injections given into the skin of the upper arm.

ICX-RHY was shown to be very well tolerated; no serious adverse events were reported and all adverse events were transient and resolved without treatment.

These very encouraging data will allow Intercytex to seek regulatory approval for a Phase II study, expected to begin during the second half of this year. The proposed Phase II study will evaluate the efficacy of ICX-RHY when injected into facial wrinkles. It is anticipated that preliminary results from this study will be available around the middle of 2007.

In March of this year, Intercytex received confirmation from the MHRA (Medicines and Healthcare products Regulatory Agency) that ICX-RHY was outside the scope of the current legislation covering the marketing of medicines and devices in the UK. Intercytex plans to make ICX-RHY available in the UK market once additional clinical data are available, expected to be in the second half of 2007.

Nick Higgins, Chief Executive Officer, commented: “ICX-RHY is an exciting product in a high growth field and has the potential to generate early revenues for the Company. We look forward to taking the product into Phase II efficacy trials later this year.”

Enquiries:

Intercytex
Nick Higgins, Chief Executive Officer: +44 (0)1223 421962

Financial Dynamics
David Yates/Anna Keeble: +44 (0)207 831 3113

About ICX-RHY:

ICX-RHY is being developed as a cell therapy approach to the long-term rejuvenation of rhytids (wrinkles) and skin blemishes such as scarring. It comprises a suspension of allogeneic human dermal fibroblasts which are injected into the dermis of the skin to provide a source of young, collagen-secreting cells. In the UK the supply or sale of the product is not covered by the licensing provisions of the Medicines Act and related legislation.

About Intercytex:

Intercytex is an emerging healthcare company developing and commercialising cell therapy products for the advanced woundcare and aesthetic medicine markets. Intercytex 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 four products in development:

• ICX-PRO, designed actively to stimulate repair in chronic wounds in Phase III trials;
• ICX-SKN, being developed as a durable and robust skin replacement, due to start Phase I trials later this year;
• ICX-RHY, a facial rejuvenation product which has completed a Phase I clinical trial; and
• ICX-TRC, a hair regeneration product shortly to enter Phase II clinical trials.

Intercytex commenced operations in 2000 and currently employs around 70 staff. In addition to its head office in Cambridge, UK, it has a GMP clinical production facility plus research and development laboratories in Manchester, UK. Additional laboratories are located in Boston, USA.

Intercytex’ shares were admitted for trading on the Alternative Investment Market of the London Stock Exchange on 1 February 2006 under the ticker symbol ICX.L.

For further information on Intercytex, please visit www.intercytex.com