Intercell AG

EANS-Adhoc: Intercell AG completes equity private placement of EUR 15.2 million at a price of EUR 2.30 per new share - bringing total volume of combined debt and equity financing to EUR 35.2 million

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Company Information

14.05.2012

Vienna (Austria), May 14, 2012 - Intercell AG (VSE: ICLL) today announced that
it successfully completed a previously announced financing transaction
consisting of a EUR 20.0 million secured loan (the "Term Loan") provided by BB
Biotech and an equity private placement (the "Private Placement") of
approximately EUR 15.2 million. The Intercell shares were placed at an adjusted
price of EUR 2.30, corresponding to the opening share price of Intercell shares
on May 14, 2012. BB Biotech participated in the previously announced Private
Placement with an investment of EUR 5.0 million, corresponding to a final number
of shares of 2,173,913 subscribed for at the adjusted Private Placement price. 

Intercell AG expects this financing to secure the Company's funding needs until
it reaches financial self-sustainability. It intends to use the net proceeds
principally for the research and development of its pipeline products and
further development of its technology platforms, until expected cash flows from
its first approved product IXIARO®/JESPECT® will be sufficient to fund
operations.

In the Private Placement, a total number of 6,591,742 shares were subscribed. In
addition to the 2,173,913 shares subscribed by BB Biotech, 982,829 shares were
placed to Novartis, Intercell's biggest shareholder, which will maintain its
current 14.9 shareholding, and the remaining 3,435,000 shares were placed to
selected healthcare and institutional investors in the Private Placement. The
issuance of the new shares is expected to take place on or around June 1, 2012. 

"We are very pleased to have successfully completed this financing. The offering
provides a solid foundation for operational and strategic growth of Intercell,"
stated Intercell's CEO, Thomas Lingelbach.


Further inquiry note:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222
communications@intercell.com

end of announcement                               euro adhoc 
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issuer:      Intercell AG
             Campus Vienna Biocenter  3
             A-1030 Wien 
phone:       +43 1 20620-0
FAX:         +43 1 20620-800
mail:     investors@intercell.com 
WWW:      www.intercell.com
sector:      Biotechnology
ISIN:        AT0000612601
indexes:     ATX Prime
stockmarkets: official market: Wien 
language:   English
 



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