The UK's Intercytex has raised £12 million in new venture capital. Avlar BioVentures, Merlin Biosciences, 3i, Cambridge Gateway Partnership, NIF Ventures and Scottish Equity Partners all participated in the round. The financing will be used to complete Phase III trials of ICX-PRO, Intercytex's active woundcare product, take ICX-TRC, its hair regeneration product, through later stage clinical trials and to move ICX-SKN, a living skin replacement, into the clinic. "We are extremely pleased to have raised this considerable sum which allows us to significantly advance all our projects," said Nick Higgins, Intercytex's CEO.
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