SUBSCRIBE Blog with us: BLOGbiotech

GEN News Highlights

• Email
• Print
• Share
• More GEN News Highlights

Nov 23 2009, 11:20 AM EST

Intercytex Wind-Down Continues with Sale of Stem Cell Therapies Assets to Pfizer for $750,000

GEN News Highlights

Intercytex has sold part of its stem cell therapeutics subsidiary, Axordia, to Pfizer for $750,000 in cash,  £75,000 ($124,613) of the total payment will be held in escrow until 2010. The company has also closed its offices in the U.K. and U.S., and is now being run by its three executive directors, who are also on notice.

Intercytex started to implement cash-saving measures in January 2009, less than a month before the company announced that its lead venous leg ulcers product candidate, Cyzact®, failed in Phase III trials. Since then the company has been looking for a merger option or to sell off its assets piecemeal. Intercytex shares stopped trading on the U.K.’s Alternative Investment Market in September.

• Email
• Print
• Share
• More GEN News Highlights

Comment on this News:

Name:
Title:
Comment:
	HELP US FIGHT SPAMMING ROBOTS by answering the following simple question. It will verify you as a legitimate user wishing to post a comment. Thank you for your cooperation.

CAREER CENTER

WEBINARS

PODCASTS

MOST POPULAR