Incanthera plc (AQSE:INC), the company specially focussed on innovative technologies in dermatology and oncology is pleased to present its unaudited interim results for the six months ended 30 September 2022.
Incanthera is dedicated to improving treatment options with innovative therapeutics combined with targeted delivery technologies.
Highlights:
- Commercialisation discussions for our skincare formulations continue to progress positively, specifically concentrated towards the global potential for their various applications.
- Strength in infrastructure and intermediary relationships enhance the pathway to potential commercial success.
Financial Highlights:
- Strong financial control through period, ensuring financial position on budget.
- Operating losses for the period £511k (2021: £582k).
As announced alongside the Company’s full year results on 2 September, the Company has entered into certain agreements, including inter alia, director’s agreements to waive remuneration and a loan facility agreement with certain directors of up to £190,000 (current undrawn balance of £140,000). These arrangements provide the Company with sufficient cash runway to support its operations until Q4 2023.
Tim McCarthy, Chairman, commented:
“The period under review has concentrated upon furthering discussions to capitalise on the potential for various applications of ourskincare portfolio for commercial success.
These discussions continue to show great potential and the team is dedicated to reaching the right conclusion for the commercialisation of our skincare range as we look to take our Company forward with future success for our team and our shareholders.
As we approach the end of 2022, I would like to thank our shareholders for their continuing loyalty and support and our team for their unwavering hard work and dedication. We look forward to sharing further progress as soon as we are able 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:
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
+44 (0) 20 7213 0880
Broker:
Stanford Capital Partners Ltd
Patrick Claridge/John Howes/Bob Pountney
+44 (0) 20 3650 3650
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 lead pharmaceutical product, and focus, is Sol, an innovative topical product for the treatment of solar keratosis. 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 has several beneficial collaborative relationships with both clinicians and clinical centres.
For more information on the Company please visit: www.incanthera.com