Incanthera plc (AQSE:INC), the company specially focussed on innovative technologies in dermatology and oncology is pleased to present its interim results for the six months ended 30 September 2021.
Incanthera is dedicated to improving treatment options with innovative therapeutics combined with targeted delivery technologies via its unique platform.
- Commercialisation discussions for Sol with two previously mentioned global cosmetic companies continue to progress.
- The Company has commenced new commercial discussions for the rights to Sol with an additional two companies.
- Strong financial control through period, ensuring financial position on budget.
- Cash balance at 30 September 2021 increased to £627k (2020: £433k), providing cash runway to Q3 2022.
- Operating losses for the period £582k (2020: £471k).
Tim McCarthy, Chairman, commented:
“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.
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.
As we approach the end of 2021, I would like to thank our shareholders for their continuing support and our team for their hard work and dedication. We look forward to sharing further progress next year.”
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/James Lewis
+44 (0) 20 7213 0880
Stanford Capital Partners Ltd
Patrick Claridge/John Howes/Bob Pountney
+44 (0) 20 3815 8880
Notes to Editors
Incanthera is a specialist oncology 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 lead product and focus is Sol, a potentially innovative topical product for the treatment of solar keratosis and the prevention of skin cancers. This has achieved proof of concept and the Company is now focussed upon delivering Sol to a commercial partner.
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.
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.
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 also has a number of beneficial collaborative relationships with both clinicians and clinical centres.
For more information on the Company please visit: www.incanthera.