Intercell AG

EANS-Adhoc: Intercell AG
Intercell AG announces Q1 2009 results and business update:

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3-month report


» First product sales of Japanese Encephalitis vaccine in Australia

» Solid revenue growth and profitability expected for full year  2009

» Excellent progress in vaccine development: Start of Phase II with   investigational Vaccine Enhancement Patch against Pandemic Influenza expected soon

Vienna (Austria), May 11, 2009 - Today, Intercell AG (VSE: ICLL) announced its financial results for the first quarter of 2009 and presented an update on the Company's development programs.

Following the approval of its Japanese Encephalitis vaccine, Intercell posted its first revenues from product sales of EUR 0.4 m in Q1 2009. The company´s aggregate revenues decreased from EUR 8.6 m in Q1 2008 to EUR 5.4 m in Q1 2009. Research and development expenses increased from EUR 10.4 m in Q1 2008 to EUR 15.1 m in Q1 2009. Intercell´s net loss increased from EUR 4.6 m in Q1 2008 to EUR 8.2 m in Q1 2009. The increased loss was primarily due to a decrease in revenues and an increase in research and development expenses. For the full year 2009, management expects solid revenue growth and profitability, based on product sales and collaboration revenues. With liquid funds of EUR 172.2 m as of March 31, 2009 Intercell has a strong financial and strategic position.

Intercell's vaccine to prevent Japanese Encephalitis (JE) approved in the USA, Europe and Australia


Intercell's new vaccine to prevent JE, IXIARO® has been approved by the European Commission. Novartis will introduce the product in Europe within May 2009.


On March 31, 2009, Intercell announced the FDA approval of IXIARO. Last week, an exclusive multi-year contract was signed by Intercell and the U.S. Department of Defense for purchase of IXIARO® - first sales of IXIARO under this military contract and on the US traveler market are expected soon.


In Australia, where Intercell's vaccine was approved in January 2009, delivery to travel clinics has started and first product sales have been recognized.

Next expected steps are to expand approvals in other markets (i.e., Canada, Switzerland) and to start Phase III studies in children.

Start of a Phase II trial of Intercell´s investigational Vaccine Enhancement Patch to prevent Pandemic Influenza expected soon

All preparations are on track for the start of a clinical Phase II trial investigating the effectiveness of the Vaccine Enhancement Patch in combination with an injected Pandemic Influenza vaccine to improve prevention of Pandemic Influenza. The investigational Vaccine Enhancement Patch to improve Pandemic Influenza prevention is developed in collaboration with the U.S. Department of Health and Human Services (HHS) - the Intercell and HHS contract allows for potential funding of up to USD 128 m for the clinical development of the Vaccine Enhancement Patch. First data from this trial are expected at the end of 2009.

Start of a Phase III clinical study for Travelers´ Diarrhea Vaccine Patch expected for Q2 2009, providing the H1N1 Flu situation in Mexico and surrounding areas is resolved

The Phase III TREK study will follow travelers from the USA and Europe to Mexico and Guatemala and will evaluate the prevention of diarrhea. The randomized, placebo-controlled study will include some 1,800 individuals from the USA and Europe. The start of the study is still planned for Q2.

Pipeline Vaccines - development according to plan

S. aureus vaccine Phase II/III clinical trials - study progress according to plan (Merck & Co. Inc) - Phase II interim data expected later in 2009.

Pseudomonas aeruginosa vaccine Phase II study (started at the end of 2008) is progressing well - initial results expected later in 2009.

Streptococcus pneumoniae vaccine On April 7, 2009, Intercell announced the start of a clinical Phase I trial with the company's vaccine candidate - initial results expected by the end of 2009.

Therapeutic Hepatitis C vaccine strategic partnering process ongoing.

Tuberculosis vaccine Phase I/II clinical development proceeding according to plan (Intercell, Statens Serum Institut, Sanofi Pasteur, AERAS Global Tuberculosis Foundation).


In March, Reinhard Kandera was appointed as Intercell's new Chief Financial Officer (CFO). In his new role, he is responsible for global Finance and Investor Relations.

In order to provide a more convenient way for US investors to invest in Intercell, the company announced in May that it had launched a sponsored Level 1 American Depositary Receipt (ADR) facility in the United States.

Key Financial Figures

TEUR                                      3 months ended
                                                 March 31,            Year ended Dec. 31,
                                          2009         2008                  2008

Revenues                              5,424        8,625                55,763
Net profit / (loss)          (8,176)    (4,617)              17,175
Net operating cash flow  (14,251)  (12,808)            (10,186)
Cash and available-
for-sale financial assets 172,200    272,223            190,865

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ots Originaltext: Intercell AG
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Further inquiry note:
Intercell AG
Lucia Malfent
Head of Corporate Communications
Tel. +43 1 20620-1303

Branche: Biotechnology
ISIN:      AT0000612601
WKN:        A0D8HW
Index:    ATX Prime, ATX
Börsen:  Wien / official market

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