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Update on divestment of business assets - Intercytex


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Update on divestment of business assets

Press Releases
Update on divestment of business assets
21st January 2010

Regenerative Medicine Assets Limited (formerly Intercytex Group plc) today announces that it has completed the sale of certain assets related to its wound healing products ICX-SKN and CyzactTM from its wholly owned subsidiary Intercytex Limited to Healthpoint, Ltd., via its affiliate DFB Technology Holdings LLC, for a maximum total cash consideration of up to US$990,000 including upfront and contingent payments, all receivable within the next 12 months.

The Company continues with detailed discussions regarding the sale of its other business assets and anticipates making further announcements in due course.

Enquiries

For more information, contact:

Intercytex Group plc
Nick Higgins, Director Tel: 0161 904 4500
Max Herrmann, Director

Notes for Editors

CyzactTM is a topical wound care product comprised of active, allogeneic human dermal fibroblasts embedded in a human fibrin gel matrix. The product is designed to stimulate active repair and closure in persistent chronic wounds.

ICX-SKN is an early stage technology that has been designed to replace autologous skin grafts in severe burn patients, eliminating the need for tissue excision, skin grafting and creation of donor site wounds, which can lead to additional scars and risk of infection. ICX-SKN provides an architecture that is sufficiently durable to integrate and persist in burns, and provide immediate and long-term closure that is robust enough to withstand the proteases (enzymes that break down proteins and peptides) present during wound repair. These unique differentiating characteristics of ICX-SKN also make it ideal for treatment of other skin deficits that require a surgical graft.

See link
http://www.intercytex.com/icx/news/releases/2010/2010-01-21/