Intercytex buys Axordia

Intercytex says it has acquired fellow UK-based stem cell specialist Axordia, which is developing a treatment for age-related blindness, by  way of issuing seven million of its shares, valuing the later at around  L1.7 million ($2.6 million). Axordia was previously 64.1% owned by  Fusion IP, the technology commercialization company focused on the UK  universities of Cardiff and Sheffield. Intercytex said that the  acquisition would not increase its funding requirements in the  short-to-medium term, as Axordia already benefits from significant  external grant and project funding.