EANS-Adhoc: Intercell AG completes equity private placement of EUR 15.2 million at a price of EUR 2.30 per new share - bringing total volume of combined debt and equity financing to EUR 35.2 million

--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------

Company Information

14.05.2012

Vienna (Austria), May 14, 2012 - Intercell AG (VSE: ICLL) today
announced that it successfully completed a previously announced
financing transaction consisting of a EUR 20.0 million secured loan
(the "Term Loan") provided by BB Biotech and an equity private
placement (the "Private Placement") of approximately EUR 15.2
million. The Intercell shares were placed at an adjusted price of EUR
2.30, corresponding to the opening share price of Intercell shares on
May 14, 2012. BB Biotech participated in the previously announced
Private Placement with an investment of EUR 5.0 million,
corresponding to a final number of shares of 2,173,913 subscribed for
at the adjusted Private Placement price.

Intercell AG expects this financing to secure the Company's funding
needs until it reaches financial self-sustainability. It intends to
use the net proceeds principally for the research and development of
its pipeline products and further development of its technology
platforms, until expected cash flows from its first approved product
IXIARO®/JESPECT® will be sufficient to fund operations.

In the Private Placement, a total number of 6,591,742 shares were
subscribed. In addition to the 2,173,913 shares subscribed by BB
Biotech, 982,829 shares were placed to Novartis, Intercell's biggest
shareholder, which will maintain its current 14.9 shareholding, and
the remaining 3,435,000 shares were placed to selected healthcare and
institutional investors in the Private Placement. The issuance of the
new shares is expected to take place on or around June 1, 2012.

"We are very pleased to have successfully completed this financing.
The offering provides a solid foundation for operational and
strategic growth of Intercell," stated Intercell's CEO, Thomas
Lingelbach.

Further inquiry note:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222
communications@intercell.com

end of announcement euro adhoc
--------------------------------------------------------------------------------

issuer: Intercell AG
Campus Vienna Biocenter 3
A-1030 Wien
phone: +43 1 20620-0
FAX: +43 1 20620-800
mail: investors@intercell.com
WWW: www.intercell.com
sector: Biotechnology
ISIN: AT0000612601
indexes: ATX Prime
stockmarkets: official market: Wien
language: English