Intercytex Share Discussion Threads

[philwill] 23/11/2009 07:56

same Hyper....though not as much thankfully

[hyper al] 23/11/2009 07:42

Oh well that's £7k down the drain, glad it was in my SIPP ad not real cash.

[philwill] 23/11/2009 07:39

i'd say turn the lights out, but it seems they already have.......nice to see the directors looking after no 1

[bobby.ifa] 23/11/2009 07:31

I knew Pfiser would always get their hands on this in a fire sale. Disgusting vultures make me sick. They'll turn it round into a multi-million pound business & eek royalties for years. Going back,Pfiser were looking to be paying 20p+, now they've got it for a song.Great place of integrity, the city.
Management want sueing for negligence- hope they still get their inflated salary still for the next years, just to bleed a bit more out of the company.

[jonno1] 23/11/2009 07:15

Zero I would have thought...

[leaderzzz] 23/11/2009 07:15

Anyone know what to expect from here??

[leaderzzz] 23/11/2009 07:14

well RNS is out,

Intercytex Group plc - update on divestment of business assets


Intercytex Group plc (LSE: ICX) ("Intercytex" or "the Company") today announces that it has completed the sale of certain assets related to stem cell therapies from its wholly owned subsidiary Axordia Limited to Pfizer Limited for a total cash consideration of $750,000. £75,000 will be held in escrow until 1 May 2010, with the remainder being paid immediately upon completion.

Detailed discussions regarding the sale of other business assets are continuing and the Company anticipates making further announcements in due course. The proceeds from the sale of Axordia's assets will be used to support ongoing operational costs and working capital requirements of the Company as these discussions continue.

In order to reduce costs, the Company has closed its offices in Cambridge, UK and Woburn, MA, and reduced its workforce to the three Executive Directors (Nick Higgins, Paul Kemp and Max Herrmann). All three Directors have been put on notice and it is anticipated that their employment with the Company will end once the divestment process is complete, which is expected to be by the end of the year.

The combined impact of the realised consideration from Axordia, anticipated further receipts from the sale of other assets and the cost reduction measures outlined above will extend Intercytex' cash resources into 2010.

As a result of the ongoing divestment process, the Company is not in a position to announce interim financial results for the six months to June 30, 2009.

About Axordia Limited

Axordia Limited is focused on the development of stem cell therapies for human diseases. As at 31 December 2008, the net book value of the assets attributable to Axordia Limited was £1.68 million, of which £1.73 million was goodwill. Axordia Limited reported a loss of £0.2 million for the financial year ended 31 July 2008.



Enquiries


For more information, contact:


Intercytex Group plc



Nick Higgins, Chief Executive Officer


Tel: [phone]

Max Herrmann, Chief Financial Officer

[vivgav] 23/11/2009 07:12

RNS out..........bad

[leaderzzz] 22/11/2009 18:38

would be nice viv.....

[vivgav] 22/11/2009 18:37

Let's hope the directors see fit to update their shareholders THIS WEEK! (as per their last RNS!!!!!!!!!)

[incorrigible] 22/11/2009 18:34

nothing, just thought i'd pick a random post to post it on

[vivgav] 22/11/2009 18:29

and the relevance to ICX is ???

[hyper al] 20/11/2009 08:09

This article dated 7 sept 2009 mentions Axordia as new clients!!!

"Mills & Reeve's Isabel Napper has 'comprehensive knowledge of the regulatory areas of biotech'. New clients such as Breast Health UK and Axordia join a list including numerous large pharmaceutical companies."



Maybe we will have a name change

[hyper al] 20/11/2009 07:37

Another stem cell company hits problems

[vivgav] 19/11/2009 09:13

So much for keeping us informed!

The Company remains in advanced discussions with a number of parties to divest
certain business assets, and will continue to update shareholders on both the
progress of the strategic review and the potential timing of release of interim
financial results.

[philwill] 19/11/2009 08:58

thanks Hyper, same here, have written this off so if it returns it will be an unexpected bonus.....shame, it looked like they had a good chance of making it

[hyper al] 19/11/2009 08:34

Philwill

It's just hope.

I'm OK with the financial loss, but would like to see them back.

Now think it looks unlikely

[philwill] 19/11/2009 08:24

Hyper....serious question...do you honestly think this will return from suspension?

[hyper al] 19/11/2009 08:19

This news today from ABH is not good for us. I thought ICX once offered these services, obviously don't now.


"Angel Biotechnology is the only manufacturer within the UK to offer
fully integrated process development services and cGMP manufacturing for cell
therapy products. Angel has been involved in the GMP manufacture of cell based
therapies and stem cells since 2005 and is at the forefront in the GMP
manufacture of these emerging technologies."

[mary9740] 18/11/2009 21:54

Think we can say ta ta to this lot,