London, 30 January 2006-Lawyers from the London office of Morrison & Foerster are advising Intercytex Group plc, a Cambridge-based emerging healthcare company, on its Initial Public Offer on the Alternative Investment Market.

Intercytex will raise £15 million, conditional on the admission of the new ordinary shares to trading on AIM, through a subscription of approximately £4.2 million by existing shareholders and a placing of approximately £11.8 million with new shareholders.  The shares being issued in the subscription and the placing have been priced at 108 pence per share, at which price the Company will have a market capitalisation on admission of approximately £60 million. 

Piper Jaffray Ltd is acting as nominated adviser and sole broker to the Company. 

The Morrison & Foerster team is being led by head of the UK Corporate Practice, Paul Claydon, and includes James Halstead and Sophie Waels.

Paul Claydon commented, "We are delighted to be advising Intercytex on its IPO, and to see the market respond so positively to the company.  This is a pioneering company with products in development to address woundcare and to treat common complaints such as baldness and wrinkles.  We have worked with Intercytex for a number of years, from seed funding to the present, and we very much value these long term relationships with our clients."