2008 "disappointing" year for Intercytex
UK-based, Manchester University spinout Intercytex generated revenue in 2008, but only managed to decrease its loss by 1% as a result. The firm is still exploring strategic options due to the failure of its Cyzact program (Marketletter March 2).
Turnover was GBP17,000 ($24,000) for full-year 2008, compared to nothing in the year before. R&D expenses were GBP9.0 million, down 6%.
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