Press Releases

Intercytex Group plc – Interim results for the six months ended 30 June 2007

Positive efficacy data emerging across regenerative medicine product portfolio

Intercytex Group plc (LSE: ICX), the regenerative medicine company developing innovative products to restore skin and hair, announces its interim results for the six months ended 30 June 2007.

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

Highlights

Products

• Skin grafts – clinical breakthrough in regenerative medicine announced in June with positive results from ICX-SKN Phase I trial for skin grafts in acute wounds
• Facial rejuvenation – Phase II trial of VAVELTA® underway; low dose treatments completed. VAVELTA introduced to UK market at FACE exhibition in London
• Hair regeneration – first 12 patients treated in Phase II trial of ICX-TRC
• Chronic wounds – safety review board (DSMB) recommends continuation of ICX-PRO Phase III trial and increase sample size, based on a review of data from the first 108 patients

Corporate

• Placing of new shares in May raised £12m gross
• Comprehensive supply agreement signed with Baxter Healthcare for use of Tisseel® in ICX-PRO and ICX-SKN

Financial

• Loss before tax for the six months ended 30 June 2007 of £6.04m (H1 2006: £4.04m)
• Cash and cash equivalents and liquid investments at 30 June 2007 of £17.55m (H1 2006: £15.10m)
• Milestone payment of US$200,000 received from Bosley under ICX-TRC option

Post period-end highlights

• Preliminary data from Phase II trial of VAVELTA in facial rejuvenation shows very encouraging efficacy data and a good safety profile. Treatment of high dose group commenced
• Commencement of second VAVELTA trial in acne scars
• Preliminary data from Phase II trial of ICX-TRC for hair regeneration shows increased hair counts and good safety profile
• Recruitment completed for Phase II trial of ICX-PRO for diabetic foot ulcers

Nick Higgins, CEO commented:  "We announced a clinical breakthrough in regenerative medicine in June with the release of data from our skin repair trial and we are now seeing this success being repeated across our portfolio. Positive efficacy data is being generated on all of our regenerative medicine products, giving us great optimism for their commercial potential.  With the additional funding we now have in place, Intercytex is in a very strong position to exploit the opportunities in the rapidly growing field of regenerative medicine."

There will be an analyst meeting to discuss the interim results today at 11am at Financial Dynamics.  For those unable to attend, there will be a live audio conference call, the details are as follows. This is a listen only number:

Dial in time: 11am
Dial in number: 020 7806 1966
Title: Intercytex

Slides: http://www.intercytex.com/icx/investors/rep/rep2007/2007-09-25/2007-09-25.pdf

If you would like to participate in the question and answer session at the end of the call, please call Claire Rowell on 0207 269 7285 to get the relevant dial in number as it differs from the one above.

Enquiries

For more information, contact:

Intercytex Group plc

Notes for Editors

Intercytex is a healthcare company developing regenerative medicine products for the woundcare and aesthetic medicine markets. It uses its expertise in cell therapy technology to develop innovative products that harness the innate ability of human cells to regenerate and repair the body. Intercytex has 4 products in development:

• ICX-PRO, designed to stimulate active repair in chronic wounds – in a Phase III trial
• ICX-SKN, being developed as a durable and robust skin replacement – recently completed a Phase I trial
• VAVELTA® (ICX-RHY), 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 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 AIM, a market of the London Stock Exchange, under the ticker symbol ICX.L.

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.

View the full press release in PDF format (PDF, 124 KB, opens in a new window).

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