Press Releases

Intercytex Group plc - Interim results for the six months ended 30 June 2006

Intercytex Group plc (LSE: ICX) announces its interim results for the six months ended 30 June 2006.

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

Highlights

Products

• Good recruitment progress in Phase III trial of ICX-PRO for venous leg ulcers. On track to complete recruitment in early 2007 and announce results in H2 2007
• Successful completion of Phase I trial of ICX-RHY for facial rejuvenation. Phase II trials are expected to start in Q4 2006
• MHRA confirmation that ICX-RHY can currently be sold in the UK without a marketing authorisation

Corporate

• Successful listing on AIM in February 2006, raising £13.7 million (net of expenses)
• Successful GCP inspection by MHRA

Financial

• Loss before tax for the six months ended 30 June 2006 of £4.0m (H1 2005: £3.4m)
• Cash and liquid resources at 30 June 2006 of £15.1 million (H1 2005: £1.0m)
• Milestone payment of US$150,000 received from Bosley under ICX-TRC option

Post period-end highlights

• Jan Benschop appointed as VP Commercial Development
• Commencement of Phase II trial of ICX-PRO in diabetic foot ulcers
• First subjects recruited to Phase II trial of ICX-TRC for male pattern baldness

Nick Higgins, CEO commented: "Intercytex is developing a number of innovative cell therapy products, all of which will have moved to their next stage of clinical development during the year. We look forward to a number of potentially value-enhancing events over the forthcoming months with confidence."

Enquiries

For more information, contact:

Notes for Editors

Intercytex is an emerging healthcare company developing and commercialising cell therapy products for the 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 in two business areas:

• Woundcare
  • ICX-PRO, designed to stimulate active repair in chronic wounds - in a Phase III trial for venous leg ulcers and a Phase II trial for diabetic foot ulcers.
  • ICX-SKN, being developed as a durable and robust skin replacement - due to start a Phase I trial during 2006.

• Aesthetic medicine
  • ICX-TRC, a hair regeneration product - in a Phase II trial.
  • ICX-RHY, a facial rejuvenation product – due to start Phase II trials during 2006.

All Intercytex’ products are derived from unmodified, human cells.

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 with research and development laboratories in Manchester, UK.

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.

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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