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Intercell-Novartis alliance - next EUR 80 million payment received

Wien (euro adhoc) -

» EUR 80 m upfront license and opt-in fee paid by Novartis » 
Development of key products within the Novartis alliance well on 
track » Actual cash position more than EUR 290 m
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
finances
Vienna (Austria), November 23, 2007 - Intercell
AG announced the completion of the next step in implementing the 
strategic alliance entered into with Novartis in July 2007. EUR 80 m 
of the upfront license and option fee agreed with Novartis was 
received by Intercell today. Together with the EUR 150 m equity 
investment made in September 2007, this payment brings the cash 
received to date by Intercell under this strategic alliance with 
Novartis to EUR 230 m. Another unconditional and committed payment 
out of this alliance of EUR 40 m is due in 2008.
"Only about half of this fee received from Novartis will be booked as
revenue in 2007, nevertheless we expect this year to become the first
profitable full year of Intercell," commented Werner Lanthaler, Chief
Financial Officer of Intercell, and he added: "Our research and 
development teams have completed the kick-off for the first key 
products within this alliance, including a novel Influenza vaccine 
adjuvanted with IC31® and the co-development for a therapeutic 
Hepatitis C Virus vaccine."
Intercell´s cash position is now more than EUR 290 m, which secures 
the optimal speed of development programs and the strategic growth of
the company.
About the Intercell-Novartis cooperation:
In July 2007 Intercell and Novartis signed a major strategic 
partnership to accelerate innovation in vaccines development in 
infectious diseases. The partnership includes a co-development and 
profit-sharing arrangement to bring together both companies´ programs
in the field of therapeutic Hepatitis C Virus vaccines with the aim 
of expanding their combined leadership in this field. Intercell´s 
adjuvant IC31® will be exclusively licensed to Novartis for the 
development of improved Influenza vaccines. IC31® will also be 
non-exclusively licensed to Novartis in other areas. Intercell 
retains the right to continue to enter into partnerships for IC31® 
with third parties in infectious diseases, cancer, allergies, and 
other indications.
About Intercell AG:
Intercell AG is a growing biotechnology company which focuses on the 
design and development of novel vaccines for the prevention and 
treatment of infectious diseases with substantial unmet medical need.
The Company develops antigens and adjuvants which are derived from 
its proprietary technology platforms, and has in-house GMP 
manufacturing capability. Based on these technologies, Intercell has 
strategic partnerships with a number of global pharmaceutical 
companies, including Novartis, Merck & Co., Inc., Wyeth, sanofi 
pasteur, Kirin and the Statens Serum Institut. The Company´s leading 
product, a prophylactic vaccine against Japanese Encephalitis, 
successfully concluded pivotal Phase III clinical trials in 2006. The
regulatory process toward a Biologics License Application (BLA) to 
the U.S. Food and Drug Administration (FDA) has been initiated. The 
broad development pipeline includes a Pseudomonas vaccine in Phase 
II, a therapeutic vaccine for Hepatitis C in Phase II, partnered 
vaccines for Tuberculosis and Staphylococcus aureus which are in 
Phase I, and five products focused on infectious diseases in 
preclinical development. Intercell is listed on the Vienna stock 
exchange under the symbol "ICLL". For more information please visit: 
www.intercell.com
end of announcement                               euro adhoc 23.11.2007 08:56:47

Further inquiry note:

Intercell AG
Lucia Malfent
Head of Communications
Tel. +43 1 20620-303
lmalfent@intercell.com

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

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Plus de actualités: Intercell AG