Press Releases

Intercytex Group plc – Interim results for the six months ended 30 June 2008

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 2008.

PRODUCT HIGHLIGHTS

Cyzact® (ICX-PRO) - healing chronic wounds

• Phase III trial in venous leg ulcers fully recruited; data expected to be announced around the end of Q1/2009 with filing of the BLA in the second half of that year
• Final positive Phase II data from diabetic foot ulcer trial of Cyzact® presented at EWMA conference in Lisbon

VAVELTA® - natural repair for damaged skin

• First commercial sales of VAVELTA® commenced in June; rollout of distribution network underway with over 15 clinics now accredited
• Positive final data from two Phase II trials of VAVELTA® presented in June at FACE congress in London, UK
• Further positive responses being generated from field trials of VAVELTA® conducted by the Clinical Practice Group with around 50 patients treated by this group to date
• Treatment commenced in a third Phase II trial for burns scars (including contractures); trial extended to up to 30 patients with additional centres being enrolled

ICX-SKN - skin grafts for acute wounds

• Phase I study showed integration of graft in all 12 patients persisting for up to 6 months
• Product being reformulated for trauma and burns applications for US Phase II clinical trial as part of the AFIRM award

ICX-TRC - hair regeneration

• Data from the Phase II trial shows increase in hair count in 11 out of 14 (79%) evaluable subjects at 24 weeks
  

CORPORATE AND FINANCIAL HIGHLIGHTS

• Placing of new shares to existing shareholders completed on 8th September 2008 raising £2.75m gross
• Intercytex the only non-US participant in a group awarded substantial funding to establish US Armed Forces Institute of Regenerative Medicine (AFIRM); initial funding available to support development of ICX-SKN for burns in the US
• Awarded grant from the Technology Strategy Board of £285k over 3 years to assist with development of strategies for preservation and storage of cell therapy products
• Positive report received from Human Tissue Authority following inspection of our Manchester GMP facility
• Loss before tax for the six months ended 30 June 2008 of £6.59m (H1 2007: £6.04m)
• Cash and cash equivalents and liquid investments at 30 June 2008 of £6.36m (H1 2007: £17.55m)

BOARD

• Max Herrmann, ACA appointed as CFO replacing Richard Moulson

Nick Higgins, CEO of Intercytex, commented: "Intercytex continues to make excellent progress in becoming a significant player in the rapidly expanding field of regenerative medicine. During the period, the Company continued to achieve its milestones and has broadened the applications of its products under development. With a rich, late-stage pipeline, a marketed product and backing from the US Department of Defence, we are very confident of our future prospects."

There will be an analyst meeting to discuss the interim results today at 10.30am at the offices of Financial Dynamics at Holborn Gate, 26 Southampton Buildings, WC2A 1PB. For those unable to attend, there will be a live audio conference call. Please call Claire Rowell on 0207 269 7285 for details.

Enquiries

For more information, contact:

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:

• Cyzact®, designed to stimulate active repair in chronic wounds - in a Phase III trial
• VAVELTA® (ICX-RHY), a facial rejuvenation product already introduced to the UK market.
• ICX-SKN, being developed as a durable and robust skin replacement - recently completed a Phase I trial
• 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 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.

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