Press Releases

Intercytex appoints new Chief Financial Officer

Intercytex Group plc (LSE: ICX) (“Intercytex” or “the Company”), the leading developer of regenerative medicine products to restore skin and hair, is pleased to announce the appointment of Max Herrmann (42) as the Company’s new Chief Financial Officer with effect from 19 September 2008.

Max joins Intercytex from Fusion IP plc, the university IP commercialisation company, where he has held an independent consulting role for the past 12 months. Prior to this, Max spent over 10 years as a sell-side equity analyst, most recently as Managing Director and Head of European Pharmaceutical and Biotechnology Research at ING Equity Markets, responsible for a highly rated team of analysts focused on the pharmaceutical, biotechnology and healthcare sectors.

Prior to his successful career in the City, Max worked in the US for Onyx Pharmaceuticals Inc. as Financial Controller. In this role he was integrally involved in the company’s successful initial public offering on NASDAQ in May 1996.Max qualified as a Chartered Accountant with Arthur Andersen in 1993. He holds a degree in Microbiology from the University of Kent.

Nick Higgins, Chief Executive Officer of Intercytex, said:

“We are delighted to welcome Max to the Intercytex team. His strong financial background and experience in the City combined with his deep scientific understanding of our sector brings a wealth of knowledge and expertise to Intercytex, and I am certain that he will make a major contribution to the Company’s future growth and development.”

There are no other disclosures required under Schedule Two paragraph (g) of the AIM Rules for Companies.

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Notes for Editors

Intercytex is the leading developer of regenerative medicine products to restore 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.

Intercytex has four products in development:

• ICX-PRO (Cyzact®), designed to stimulate active repair in chronic wounds - in a Phase III trial for venous leg ulcers and recently completed a Phase II trial for diabetic foot ulcers
• ICX-SKN, being developed as a skin graft replacement – in a Phase I extension trial
• VAVELTA®, a facial rejuvenation and skin damage repair product in Phase II efficacy trials and on the market in the UK
• 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 80 staff. In addition to its head office in Cambridge, UK, it has GMP compliant clinical production facility plus research and development laboratories in Manchester, UK. Additional laboratories are located in Boston, US.

Intercytex’ shares trade on the Alternative Investment Market of the London Stock Exchange under the ticker symbol ICX.L and on the Open Market and the Xetra trading platform of the Frankfurt Stock Exchange under the symbol IGJ.F.

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.

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