Intercytex up for sale

REGENERATIVE medicine firm Intercytex is considering a merger or sale of the business, following failed trials of its leg ulcer treatment.

The stock market announcement means the company is now in an offer period.

It is a clarification of a statement on Friday that it was to “review all strategic options” after the phase III trials of Cyzact failed to show significant wound closure compared to the standard treatment of a four layer compression bandage.

“Our pipeline of other products remains robust,” said Nick Higgins, chief executive of the Manchester-based company, on Friday.

He told TheBusinessDesk the company would be looking at licensing for some existing projects and at “different collaborations”.

Intercytex employs 40 staff, with 32 based in Manchester, following a restructuring of the company in January that resulted in the axing of half its workforce.

Its preliminary results are expected in mid-March.