Incanthera plc (AQSE: INC), the specialist oncology company focused on innovative technologies in oncology and dermatology is pleased to announce results for the year ended 31 March 2021.
Incanthera is dedicated to improving treatment options with therapeutics combined with targeted delivery technologies to transform the future of healthcare.
The year end results mark the first full anniversary of trading following the successful flotation of the Company to the AQSE Growth Market in February 2020.
Highlights:
- Commercial discussions with two global cosmetic companies for Sol skin cancer technology continue to progress
- Promotion to top Apex sector of AQSE awarded having met qualifying criteria
- Technology portfolio fully patent protected and strengthened through the filing of a new patent which gives extended patent protection to Sol to 2040
- £1.14 million further funding through recently oversubscribed placing with existing and new investors
- Directors’ and management’s further investment
- Financial performance for the year in line with the Board’s expectations
Financial Highlights:
- Total group loss for the year: £905,000, 2020: £1,128,000
- Operating expenses increased in line with Sol progression: £979,000, 2020: £933,000
- Year end cash position strengthened following the successful fundraise, 2021: £957k, 2020: £392k
Simon Ward, Chief Executive Officer, commented:
“This has been a very important first year on the public markets for Incanthera.
The public stage has provided a great opportunity for us and we have concentrated on delivering operational successes through our evolutionary technology Sol, now the subject of discussion with two global cosmetics companies. These discussions continue to progress and we look forward to making further updates when we are able.
We are also delighted at the result of our recent placing, securing further funding from existing shareholders and welcoming new investors, which puts us in an excellent position to conclude the Sol discussions and to continue to look at the promise of new opportunities to deliver returns to Shareholders.
We are immensely proud and grateful to have marked our first public year with these operational and financial achievements and we look forward to the year ahead with all the opportunity and promise that we can see.”
For further information, please contact:
Incanthera plc
www.incanthera.com
Tim McCarthy, Chairman
+44 (0) 7831 675747
tim.mccarthy@incanthera.com
Simon Ward, Chief Executive Officer
+44 (0) 7747 625506
simon.ward@incanthera.com
Suzanne Brocks, Head of Communications
+44 (0) 7776 234600
suzanne.brocks@incanthera.com
Aquis Exchange Corporate Adviser:
Cairn Financial Advisers LLP
Jo Turner/James Lewis/Mark Rogers
+44 (0) 20 7213 0880
Broker:
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 transforming cancer treatment by creating environments in which cancer cannot survive. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading academic institutions.
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 cancer-targeting therapeutics through a Pipeline Agreement with the ICT and other corporate acquisitions.
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.
For more information on the Company please visit: www.incanthera.com