Incanthera plc (AQSE:INC), the company specially focussed on innovative technologies in dermatology and oncology presents its interim results for the six months ended 30 September 2023.
The period under review has seen the Company’s activity concentrate on moving its first commercial deal to completion.
Following the period end, Incanthera is pleased to have announced, on 18 December 2023, a commercial skincare deal for Incanthera’s dermatological technologies with Marionnaud, part of the world’s largest health, beauty and lifestyle brand retailer A.S. Watson Group (“AS Watson”).
The post-balance sheet event of the commercial skincare deal is expected to transform Incanthera into a company with significant revenues and profits, generating free cash flow from roll out in Q2 2024.
In conjunction with announcement of the commercial deal, the Company also announced an institutional led Subscription and Conversion for £1 million with investment coming from new and existing institutional investors which was oversubscribed and undertaken at a premium to the mid-market price.
The fundraise also provides the Company with sufficient working capital to fund the manufacturing of the initial launch orders. Once trading in its products starts, the Company intends to issue regular trading updates regarding revenue generation and the financial position of the company as the roll out of the commercial deal takes effect in 2024.
Therefore these half- yearly results presented are not expected to be indicative of the company’s financial performance for the financial year starting in April 2024.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation.
The Directors of Incanthera accept responsibility for this announcement.
For further information, please contact:
Tim McCarthy, Chairman
+44 (0) 7831 675747
Simon Ward, Chief Executive Officer
+44 (0) 7747 625506
Suzanne Brocks, Head of Communications
+44 (0) 7776 234600
Aquis Exchange Corporate Adviser:
Cairn Financial Advisers LLP
Jo Turner / Liam Murray
+44 (0) 20 7213 0880
Stanford Capital Partners Ltd
Patrick Claridge / Bob Pountney
+44 (0) 20 3650 3650/51
Notes to Editors
Incanthera is a specialist company focused on transformative treatment technologies in oncology and dermatology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading academic institutions and industry, combined with Incanthera’s unique targeting delivery platform.
The Company's current focus is a range of dermatological applications utilising its unique formulation and delivery technologies to meet currently unmet needs in the skincare market.
The Company has developed sophisticated formulation and targeting technology platforms to address previously unavailable options across dermatology and oncology. These deliver treatments specifically to a disease site, reducing side effects whilst enabling higher doses to reach a target and therefore increase efficacy.
The Company originated from the Institute of Cancer Therapeutics (“ICT”) at the University of Bradford and has acquired and developed a portfolio of specific targeting therapeutics through both a Pipeline Agreement with the ICT and via other corporate acquisitions and partnerships. Incanthera’s strategy is to develop each candidate in the portfolio from initial acquisition or discovery to securing its future through commercially valuable partnerships at the earliest opportunity in its development pathway.
Incanthera’s Board and management possess a broad range of commercial, scientific, and public company experience. In addition, Incanthera benefits from a diverse, experienced team of advisers who cover the necessary range of specialities required for all aspects of the Company’s business and has several beneficial collaborative relationships with both clinicians and clinical centres.
For more information on the Company please visit: www.incanthera.com