Following its acquisition of Axordia in December 2008, Intercytex is now working with the London Project to Cure Blindness, a collaboration between the UCL’s Institute of Ophthalmology, Moorfields Eye Hospital, London and the Centre for Stem Cell Biology, Sheffield.
Through applying regenerative medicine technologies, the project aims to develop a cure for age-related macular degeneration (AMD), the leading cause of blindness in the elderly. Dry AMD is known to be associated with defects in the retinal pigment epithelial (RPE) cells. In exchange for research funding, and royalties, Axordia is providing UCL with the embryonic stem cell line (SHEF-1) for differentiation into RPE cells. The London Project to Cure Blindness aims to restore vision by replacing a patient’s RPE cells in the macular of the eye with new RPE cells derived from SHEF-1.
Nick Higgins, Intercytex’ CEO, commented: “We welcome this significant endorsement by Pfizer of the potential of stem cell research. While there are existing therapies to treat the less common wet form of AMD, there are currently no therapies to treat dry forms of the disease.”
Intercytex is a regenerative medicine company developing innovative products to restore skin and hair. Intercytex is using its fully integrated cell technology platform to develop products that harness the innate ability of human cells to regenerate and repair the body.
Intercytex has four products in development:
• VAVELTA®, a skin repair and rejuvenation product intended to improve the feel, function and appearance of skin damaged by scarring and the aging process, and available from a number of accredited centres in the UK
• SHEF-1, development of a stem cell line suitable for differentiation into RPE cells, being carried out in collaboration with the London Project to Cure Blindness
• ICX-TRC, a hair regeneration product. Phase II trial completed
• ICX-SKN, being developed as a skin graft replacement for burns and acute wounds, Phase I trials completed Intercytex commenced operations in 2000 and currently employs around 50 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 and Sheffield, UK.
Intercytex’ shares trade on the Alternative Investment 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.
