Intercell AG

EANS-Adhoc: Intercell AG announces Q1 2010 results and updates on R&D progress

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3-month report


Good progress in vaccine development programs - Strong R&D spending in late-stage programs lead to EUR 14.7 m loss in the first quarter

Vienna (Austria), May 11, 2010 - Today, the biotech-vaccine company Intercell AG (VSE: ICLL) announced its financial results for Q1 and presented an update on the Company's development programs.

Financial Results

» EUR 4.8m revenues in Q1 2010 compared to EUR 5.4m in Q1 2009. » IXIARO®/JESPECT® product sales in line with Q1 2009 reflecting low level    of new product supplies in Q1 2010; new product supplies to marketing and    distribution partners shifted from Q1 to Q2 2010 due to supply-planning and    lot release timing. » EUR 14.7m net loss for Q1 2010 compared to EUR 8.2m in Q1 2009. » EUR 17.9m R&D expenses in Q1 2010 - up 19.1 percent compared to EUR 15.1m    in Q1 2009 - mainly due to late-stage research and development costs for    the TD vaccine patch. » Strong cash position: EUR 158.2m in liquid funds at March 31, 2010.

Key Financial Figures

@@start.t2@@TEUR                                         3 months ended
                                                    March 31,          Year ended
                                              2010         2009         Dec 31, 2009

Revenues                                 4,756        5,424            61,681
Net profit / (loss)            (14,702)    (8,176)         (18,375)
Net operating cash flow      (15,468)  (14,251)         (25,995)
Cash and available-
for-sale financial assets  158,216    172,200          180,019


A strong focus is given to the IXIARO®/JESPECT® vaccine business to grow sales in the traveler and military markets. After having received a broadened vaccination recommendation in the U.S. in 2009, the Joint Committee on Vaccination and Immunization (JCVI) in the UK has now also extended its Japanese Encephalitis immunization recommendation to include the Intercell vaccine. Additional recommendations are expected for other key countries in Europe. These recommendations are essential to continue advancing product awareness and market growth for the Intercell vaccine to prevent Japanese Encephalitis.@@end@@

Product sales are expected to increase significantly in Q2 2010, supported by the upcoming travel season. Intercell had previously announced that new product supplies designated for marketing and distribution partners, shifted from Q1 to Q2 2010 due to supply-planning and lot release timing for European markets.

The development targeting the Asian endemic markets is progressing further. The Phase III start for the endemic Japanese Encephalitis vaccine produced by Intercell's partner Biological E. in India is expected to commence by the end of 2010 under a revised regulatory path to licensure by Indian authorities.

Good progress in development pipeline - clinical programs progressing according to plan

» In February 2010, Intercell announced results from a Phase I clinical trial    for investigational Pneumococcus vaccine, demonstrating a good safety and    immunogenicity profile. » Next important data points expected from Phase II studies for investigational    single-application Pandemic Influenza vaccine system in Q2 and for    Pseudomonas vaccine in Q3 2010. » The pivotal Phase III study for the investigational Traveler's Diarrhea (TD)     Vaccine Patch is progressing - first data expected by the end of 2010 or    beginning of 2011. » Staphylococcus aureus vaccine (V710): Phase II/III study recruitment    conducted by Merck & Co., Inc. in cardiothoracic surgery patients for the    investigational S. aureus vaccine continues to progress, with the first    critical interim analysis (surpassing futility) expected during the course    of 2010. » Tuberculosis vaccine: Phase I clinical programs are proceeding     according to plan. » Therapeutic vaccine candidate against Hepatitis C: Intercell anticipates    that a partnership to conduct combination studies with its vaccine will be    identified in 2010. » Intercell has signed an agreement with Cytos Biotechnology Ltd. to acquire     Cytos' platform technology for antibody discovery. The technology, which is    based on human B-cells, enables the identification of anti-infective    antibodies to prevent and treat infectious diseases. The Antibody Technology    complements Intercell's existing technology platforms and opens novel    medically and commercially relevant applications for Intercell's Antigen    Identification Program (AIP®). » Intercell and Boehringer Ingelheim Vetmedica entered into a worldwide Option    and Exclusive License Agreement under which Boehringer Ingelheim Vetmedica    has the right to use certain antigens derived from Intercell's Antigen    Identification Program (AIP®) to develop animal vaccines.

The full report can be downloaded at rinvestors/downloads/quarterly-reports/

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ots Originaltext: Intercell AG
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Further inquiry note:
Intercell AG
Lucia Malfent
Vice President, Global Head 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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