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

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3-month report

11.05.2010

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

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

IXIARO®/JESPECT®

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.

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 http://www.intercell.com/main/fo
rinvestors/downloads/quarterly-reports/

end of announcement euro adhoc
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ots Originaltext: Intercell AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Intercell AG

Lucia Malfent

Vice President, Global Head Corporate Communications

Tel. +43 1 20620-1303

lmalfent@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Index: ATX Prime, ATX
Börsen: Wien / official market