Incanthera plc (AQSE: INC), the specialist company focused on innovative technologies in dermatology and oncology is pleased to announce its audited final results for the year ended 31 March 2024.
Incanthera is dedicated to identifying and commercialising inspirational therapeutics, combined with uniquely targeted delivery technologies that show the potential to transform the future of healthcare.
Highlights
- Commercial deal with world’s largest health and beauty retailer, AS Watson.
- Incanthera’s Skin + CELL skincare range of 5 products to be launched in Europe in September 2024, through AS Watson Group partner, Marionnaud, with further anticipated launch through AS Watson Asian store network soon after
- AS Watson group retail store capacity, 16,500 stores across Europe and Asia
- Manufacturing partnership with Frike, Switzerland’s premier luxury skincare manufacturer
- Incanthera retains the right to discussions with all global commercial partners outside of Watson’s group exclusivity
- Institutional led fundraising in December 2023 for investment in Inventory build
- Protection of valuable IP across global territories
Financial Highlights:
- Cash position at 31 March 2024 increased to £61k (31 March 2023: £3k).
- Investment round of £1.1m, generating total gross proceeds of £825k.
- Tight cost controls remain across a lean business model
Post year end events:
Further institutional led fundraise in June 2024 and exercise of shareholder warrants in April 2024 and broker warrants in August 2024, raised a total of £3.3 million gross proceeds, for further inventory build towards product launch.
Simon Ward, Chief Executive Officer, commented:
“This is the year in which we have delivered our promise of a successful commercial deal, that will launch our world-class products onto an international stage at the very highest level.
We have completed a deal that pays homage to our excellent in-house formulation team, to the strength of skills shown in our small but impassioned management team, and the drive and huge momentum gained through our City and corporate facing communications to consistently engage with our many long standing loyal shareholders, and attract new retail and institutional City investors.”
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
For further enquires:
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/Liam Murray
+44 (0) 20 7213 0880
Broker:
Stanford Capital Partners Ltd
Patrick Claridge/Bob Pountney
+44 (0) 20 3815 8880
Notes to Editors
Incanthera is a specialist company focused on innovative technologies in dermatology and oncology. It seeks to identify and develop innovative solutions to current clinical, commercially relevant unmet needs, utilising new technology from leading specialists and academic institutions as well as its in-house development team.
The Company originated from the Institute of Cancer Therapeutics ("ICT") at the University of Bradford. Incanthera's strategy is to develop each candidate in its 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