27 November 2009

Intercytex Group recently announced 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.

In January 2009 UCLB entered an agreement for the exclusive supply of GMP cells manufactured by Axordia Ltd in order to support The London Project to Cure Blindness, a pioneering programme based at UCL’s Institute of Ophthalmology in connection with research into the treatment and cure of dry age-related macular degeneration (AMD).

In April 2009 UCLB announced an exclusive licence and research collaboration agreement with Pfizer to develop the GMP cells supplied by Axordia into the clinic and to market for the treatment of certain ophthalmic conditions.

Pfizer’s acquisition of the assets from Intercytex with the intention of supplying them to the Institute of Ophthalmology demonstrates its belief in, and commitment to the collaborative research project it signed with UCL in April 2009.

Cengiz Tarhan, UCLB Managing Director said, “We have an excellent relationship with Pfizer and we are delighted to see that with this acquisition our research into stem cell-based therapies for the treatment of AMD at UCL and our partnership with Pfizer now enters into a much stronger and more positive stage of development.”

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Further Information
For further information contact Dr Rick Fagan, BioPharm, UCL Business PLC on 020 7679 9000, (r.fagan@uclb.com)