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Intercell completes E27m private placement

The financing round was lead by Apax Partners Funds.

Apax Partners Funds has led an E27m financing for Intercell Biomedical Research & Development AG. Contributers to the financing included Techno Venture Management, Nomura International plc, GO Equity GmbH, Sal. Oppenheim Jr. & Cie and Alpinvest NV.

The capital will be used to support and expand internal research and development programs, throughput screening and vaccine development.

Intercell is involved in the research and development of synthetic, chemically defined vaccines for infectious diseases and cancers. The company’s principal disease targets are Hepatitis C (HCV), Mycobacterium Tuberculosis (TB) and Cancer, with a new disease target to be announced.

Alexander von Gabain, chief executive of Intercell, said: “Since our last round of financing in August 1998, Intercell has expanded both its scientific and management staff, successfully progressed its genomic-based antigen identification and vaccine programs, initiated its first human clinical trials, and expanded its research facilities. With the additional resources provided by this financing, the company plans to rapidly advance clinical evaluation of its vaccine products.”

Denise Pollard-Knight, Nomura International, also commented: “We believe that Intercell’s technology base is one of the broadest in the therapeutic vaccine field. Selection of the most appropriate antigens and stimulation of the correct immune response are two critical aspects and Intercell’s product platforms address both these issues. We look forward to working with Alex and his team as they move Intercell’s products through the clinic.”