Press Releases

Preliminary results for the year ended 31 December 2006

Intercytex Group plc (LSE: ICX) announces its unaudited preliminary results for the year ended 31 December 2006.

Intercytex is the leading cell therapy company focused on high impact treatments to restore and regenerate skin and hair. Intercytex uses its fully integrated cell technology platform to develop living, human cell-based products, at commercially viable scale in attractive markets.

Highlights

Products

• Good recruitment progress in Phase III trial of ICX-PRO for venous leg ulcers
• Commencement of Phase II trial of ICX-PRO in diabetic foot ulcers
• Successful completion of Phase I trial of ICX-RHY for facial rejuvenation
• Commencement of Phase II trial of ICX-TRC for male pattern baldness
• £1.85m grant to automate production of ICX-TRC
• 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
• Senior management strengthened with appointment of Jan Benschop to Vice President Commercial Development

Financial

• Loss before tax for the year ended 31 December 2006 of £9.2m (2005: £7.2m) resulting from an increase in R&D expenditure to advance the product portfolio
• Cash and liquid resources at 31 December 2006 of £11.0 million (2005: £5.7m)

Post year end highlights

• Start of Phase II trial of ICX-RHY for facial rejuvenation
• Start of Phase I trial of ICX-SKN for autograft replacement
• Completion of recruitment and biopsies for first cohort in Phase II trial of ICX-TRC
• Data & Safety Monitoring Board recommendation to continue ICX-PRO Phase III trial and increase sample size, based on a review of data from the first 50% of patients

Nick Higgins, CEO commented: "Over the past 12 months we have completed a considerable amount of commercial and clinical preparatory work. In particular I am pleased to report today that the DSMB has now reviewed the data from over 100 patients in the Phase III trial of our lead product, ICX-PRO for venous leg ulcers, and it has recommended the continuation of the study. The foundations have been laid for a series of value generating events in 2007 as clinical trial data is reported on all four of our products and the first sales of our facial rejuvenation product, Vavelta, are achieved.”

Enquiries

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Notes for Editors

Intercytex is a cell therapy company which bridges aesthetic medicine and tissue repair. 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 four products in development:

• ICX-RHY, a facial rejuvenation product to be launched in the second half of 2007
• ICX-PRO, designed to stimulate active repair in chronic wounds - in a Phase III trial
• ICX-TRC, a hair regeneration product – in a Phase II trial
• ICX-SKN, being developed as a durable and robust skin replacement – in a Phase I trial.

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

Intercytex commenced operations in 2000 and currently employs around 75 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. Additional laboratories are located in Boston, USA.

Intercytex’ shares trade on the Alternative Investment Market of the London Stock Exchange 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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