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Intercell AG

euro adhoc: Intercell AG
quarterly or semiannual financial statement / Intercell Announces Third Quarter 2005 Results Progress in clinical development and strategic partnerships for further growth

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
14.11.2005
Conference Call regarding the report Q3 2005 Monday, November 14,
2005 - 14.30 CET Tel: +43-1-23032 - PIN: 501114 The full quarterly
report including un-audited financial statements can be downloaded at
www.intercell.com.
» Global immunogenicity and safety Phase III trials for Japanese
Encephalitis vaccine started » Exclusive Agreement with CSL Ltd. for
Marketing and Distribution of Japanese Encephalitis Vaccine in
Australia » Milestone within strategic partnership with Merck&Co.,
Inc., achieved: USD 1 million milestone payment for bacterial vaccine
candidate » European Patent for Antigen Identification Program
granted » Alliance with the Centers for Disease Control and
Prevention (CDC) for novel Pneumococcus vaccine » Management Board
appointed for further growth - Gerd Zettlmeissl - new CEO, Alexander
von Gabain - new CSO, Werner Lanthaler - CFO » Revenues of EUR 4.8
million for the first nine months of 2005. Planned net loss of EUR
17.9 Mio. due to progress within clinical products. Strong cash
position with approximately EUR 60 million in liquid reserves
Vaccine company Intercell AG (VSE: ICLL) today announced its
financial results for the first three quarters of 2005.
Intercell's aggregate revenues in the nine months ended September 30,
2005 were EUR 4.8 million, compared to EUR 4.2 million in the same
period of 2004. The revenues from collaborations and licensing
increased to EUR 3.6 million in the first nine months of 2005 from
EUR 3.4 million in the comparative period of 2004. Revenues from
public subsidies increased to EUR 1.2 million in the first nine
months of 2005 compared to EUR 0.8 million in the first nine months
of the previous year. The increase in revenue from public funding is
primarily attributable to the start of research and development
activities under a $ 6.6 million grant contract with the National
Institute of Health (NIH) of the United States with a total term of
three years.
The company's net loss in the nine months ended September 30, 2005
was up 39.7 percent to EUR 17.9 million from EUR 12.8 million in the
first nine months of 2004. This is almost entirely due to higher
research and development costs, which increased by 61.6 percent from
EUR 10.8 million in the first three quarters of 2004 to EUR 17.5
million in the first three quarters of the current year, reflecting
the progress in manufacturing and advancing our JEV vaccine into
Phase III clinical trials. Our sales, general and administration
costs increased by 5.0 percent from EUR 5.7 million in the nine
months ended September 30, 2004 to EUR 6.0 million in the first three
quarters in 2005.  In aggregate, our net operating expenses increased
by 38.5 percent from EUR 16.9 million in the first three quarters in
2004 to EUR 23.4 million in the nine months ended September 30, 2005.
Recent Achievement
The European Patent Office has granted a European Patent 1355930
entitled "A method for identification, isolation and production of
antigens to a specific pathogen" to protect Intercell’s Antigen
Identification Program.  The Antigen Identification Technology is
used in-house as well as by Merck&Co., Inc. and sanofi pasteur for
the discovery of novel vaccine antigens.
Operational and Business Strategy Review Third Quarter 2005
Japanese Encephalitis (JEV) Within the last months, highest priority
was given to the preparations for the global Phase III clinical
trials, which successfully started on September 19th 2005. The global
Phase III Program consists of a series of immunogenicity and safety
trials, and will enrol more than 4,900 subjects. Furthermore, a one
time vaccination schedule is included in the Phase III program. The
fundamental immunogenicity study takes place in Austria, Germany and
the United States. This trial will compare the immune responses of
IC51 with JE-VAX®, which is the only Japanese Encephalitis vaccine
approved in the US. An additional series of Phase III trials will
gather further immunogenicity and safety data in approximately 4,000
subjects. These subjects will be recruited in Austria, Australia,
Bulgaria, Germany, Israel, the Netherlands, New Zealand, Romania, UK
and the United States.
Hepatitis C The development of our therapeutic vaccine against
Hepatitis C continues to be fully on track. After completion of our
first Phase II clinical study in 2004, the clinical development
program has been further extended. A follow-up study has been
designed to further increase the T-cell response that is the pivotal
arm of the immune system to fight the infection by optimizing the
route and the frequency of vaccinations. Recruitment for the new
study, where Intercell’s Hepatitis C vaccine is applied to more than
50 healthy volunteers by administering up to 16 vaccinations at
weekly intervals, has recently been completed. Results are expected
for early 2006. IC41 is also being tested in combination with the
Interferon/Ribavirin standard therapy in another Phase II trial. This
trial is expected to be completed in 2006.
Research and Pre-clinical Products Significant progress has been made
in our research and pre-clinical programs: » We entered into an
alliance with the Centers for Disease Control and Prevention (CDC) in
Atlanta, US for further development of our protein-based Pneumococcus
vaccine as one of our next lead vaccine candidates. There is a high
unmet medical need for a novel and safe vaccine especially in the
elderly population. The currently approved vaccine against S.
pneumoniae only covers a fraction of the 90 different S. pneumonia
serotypes. With the new vaccine, Intercell is aiming to prevent
infection by all serotypes.  Within our preclinical programs we
primarily focus on vaccines against Streptococcus Pneumoniae and
Group A Streptococcus infections in order to define product
candidates in 2005 for future clinical development.
Strategic Alliances & Licensing All existing strategic alliances
which have resulted from our highly successful antigen identification
and adjuvant (IC31TM) technologies are moving forward according to
the intended timelines: » Within our strategic alliance with
Merck&Co., Inc., Intercell - subsequently to the third quarter -
received a USD 1 million milestone payment for significant progress
made in the development of a bacterial vaccine candidate fully
derived from Intercell’s Antigen Identification Program.  Merck&Co.,
Inc. licensed the vaccine candidate, which has the potential to
address a very important unmet medical need in the field of
infectious diseases, was licensed from Intercell in May 2004. First
clinical trials are expected in near future.
In some of these partnerships we expect first clinical trials within
this year. Our major strategic partners are: Merck&Co., Inc. (US),
sanofi pasteur (France), Statens Serum Institut (Denmark) and SciGen
Ltd. (Australia/Singapore). We expect the start of another clinical
trial and further technology alliances within the next months.
The full quarterly report including un-audited financial statements
can be downloaded at www.intercell.com.
This communication expressly or implicitly contains certain
forward-looking statements concerning Intercell AG and its business.
Such statements involve certain known and unknown risks,
uncertainties and other factors which could cause the actual results,
financial condition, performance or achievements of Intercell AG to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Intercell AG is providing this communication as of this date and does
not undertake to update any forward-looking statements contained
herein as a result of new information, future events or otherwise.
end of announcement                               euro adhoc 14.11.2005 05:00:00

Further inquiry note:

Intercell AG
Mag. Katharina Wieser
Head of Corporate Communications
Tel. +43 1 20620-303
kwieser@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Börsen: Wiener Börse AG / official market

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