Intercytex recruited to US Armed Forces service

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9:30 am, April 18, 2008
Intercytex recruited to US Armed Forces service

By Claire Shoesmith

Intercytex (LSE: ICX), the healthcare group that is developing regenerative medicine products to restore skin and hair, said it is the only UK company to have been selected as part of a group to establish the US Armed Forces’ Institute of Regenerative Medicine (AFIRM).

The Manchester-based company said the aim of the AFRIM, which is supported by a foundation grant from the US government totalling $85m, is to use the science of regenerative medicine to develop new treatments for battlefield injuries. Therapies developed by AFIRM will also be used in trauma and burns patients in the general public.

Nick Higgins, Intercytex’s chief executive, said: “We are immensely proud to be the only non-US company to be involved in this vitally important initiative. Many battlefield injuries involve extensive burns and loss of skin and there is an urgent need for an effective living skin replacement.

Shares in the group rose 1.9 per cent to 39.50p in early trading.

Comments? cshoesmith@crain.com