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Celltran and Xcellentis successfully complete merger


Sheffield (United Kingdom), and Gent (Belgium), October 2, 2006 – Celltran Limited, and Innogenetics are pleased to jointly announce today that Celltran has successfully completed its merger with Xcellentis, a subsidiary of Innogenetics, the Belgium based international biopharmaceutical company. Through the transaction, Celltran has acquired the assets of Xcellentis and Innogenetics has received shares and warrants in the capital of Celltran which will ultimately lead to Innogenetics owning a 51% stake in Celltran.

Celltran is a UK biotechnology company specialising in developing autologous cell therapy products and services to heal wounds. The Company’s lead product, Myskin™, currently generating revenues and marketed in the UK through an established sales and distribution network will be especially complemented by the Xcellentis active wound care portfolio. Lyphoderm™, which will shortly enter Phase 3 clinical trials, consists of freeze-dried skin cells of allogeneic (donor-derived) origin with enhanced storage, shelf-life, and easy application properties. In addition, two further therapies from Xcellentis are close to obtaining marketing approval.

The combination of an experienced management team together with a portfolio comprising marketed and late development stage products, innovative technology platforms, supported by strong intellectual property, positions Celltran to effectively target the rapidly growing active therapy sector of wound care that is estimated to be worth £4 billion per year worldwide and to seek additional financing to support its growth plans.

Following the merger, Frank Morich, CEO Innogenetics, and Christian Matton, VP Legal & IP of Innogenetics, will join the Board of CellTran as Non-executive Directors.

Commenting on the merger, Mal Jarmolowicz, Chief Executive Officer of Celltran, said: “We are delighted to have sucessfully completed this merger. Through the integration of Xcellentis’ innovative wound care therapies, Celltran now has the strengthened capability to take a distinct, multi-stream approach to the fast growing active wound care sector. The newly combined products demonstrate a strong economic case for use and have a defined route to market, providing Celltran with a robust strategy for moving the business forward.”

Frank Morich, Chief Executive Officer of Innogenetics, added: “We are extremely enthusiastic about the prospects of combining the activities, technologies, and pipelines of Celltran and Xcellentis. We have created a specialist wound care powerhouse with a range of new-generation products which include both autologous and allogeneic approaches, that not only offer new solutions to medical needs, but create excellent value for both Innogentics and Celltran’s shareholders.”

For further information, please contact:
Celltran Limited
Mal Jarmolowicz, Chief Executive Officer
Tel.: +44 (0)14 222 0983
www.celltran.com

Buchanan Communications
Tim Anderson / Mary-Jane Johnson / Catherine Breen
Tel.: +44 (0)20 7466 5000

Innogenetics
Filip Goossens, Investor Relations Manager
Tel.: +32 (0)9 329 1639
www.innogenetics.com

About Celltran
Celltran is a UK biotechnology company specialising in developing cell therapies to heal wounds.

Incorporated in 2000, Celltran has raised over £4 million in venture finance. This has enabled Celltran to trial and launch Myskin™ in the UK. The positive response from clinicians and patients alike is highlighted by the fact that Myskin™ has been supplied to burns, plastics and vascular specialties as well as to the initial target market of foot ulcer wound care clinicians.

Celltran benefits from a distribution agreement with Vernon Carus, and is currently negotiating licensing deals for Myskin™ in territories outside the UK, as well as exploring new routes to market in the UK. With growing revenues and license income, supported by a strong development pipeline, Celltran continues to build value for its majority sh


Publisher Contact Information:

CellTran Limited
+44 (0)14 222 0983
-

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