UK based Intercytex, a regenerative medicine company (STRIKE 1) who had been using cell therapy (STRIKE 2) to treat chronic leg ulcers (STRIKE 3!!!), will try to sell itself.

No surprise here though. The company was only trading at 19p (that’s about $0.27 USD) and fell to 5p ($0.07 USD) after their lead program, Cyzact, failed a Phase 3 trial. The 12-week multinational trial was done in 396 patients with venous leg ulcers and failed to show a statistically significant difference in wound closure vs. standard compression bandaging.

The company also said last month that it planned to axe half of its 85 employees and that they only had cash to last until March.

Yikes.

Here’s what CEO Nick Higgins had to say about all this chaos:

“The results of the Phase 3 study of Cyzact in the treatment of venous leg ulcers are disappointing, given the encouraging results of earlier studies. However, our pipeline of other products remains robust. Feedback from clinicians using Vavelta gives us increasing confidence in its potential in aesthetics and regenerative medicine. Apart from completing the data analysis, no further work on Cyzact is planned in any indication. In the light of this disappointing result the board has determined to review all strategic options for the company.”

Oh the pain! Attention siRNA believers: this is your fate fast forward 8 years.

Image from mainefishingtoday

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