Incanthera plc (AQSE:INC) has started talks for the commercial rights to Sol, its skin cancer formulation and lead product, with another two companies, the group said alongside its interim results.
Discussions with two previously announced global cosmetic companies are also continuing to progress, said the specialist oncology company.
The compnay also announced that its pretax losses widened to £582,000 for the six months to end September, from £471,000 in the year-earlier period, as it focussed on finding a commercial partner for Sol.
Its cash balance at the end of September increased to £627,000, from £433,000, providing it with enough cash into the third quarter of 2022.
"We have made excellent progress in our discussions on the commercial rights for Sol during this period and have recently initiated commercial discussions with two further companies,” said chairman Tim McCarthy.
“The conclusion of the right deal for commercialisation of Sol is of paramount importance for the future success of the company and the whole team is engaged in delivering this for our shareholders.”
“It is clear that the potential for Sol to be the basis for a whole product range, incorporating its unique technology and dermatological qualities, is of great interest to commercial partners,” he said.
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/James Lewis
+44 (0) 20 7213 0880
Stanford Capital Partners Ltd
Patrick Claridge/John Howes/Bob Pountney
+44 (0) 20 3815 8880