26 November 2024
Incanthera plc
("Incanthera" the "Company")
Commercial Update
Incanthera plc (AQSE: INC), the company focused on innovative technologies in dermatology and oncology, provides an update in respect of the launch of its premium skin care range Skin + Cell.
The Company advises that it has received unsupported allegations from a third party concerning potential patent infringement in relation to the formulation of the Skin + Cell range of products. The Company considers the unsupported allegations to be without merit.
The Company is currently in communication with the third party in order to resolve this matter expediently. No formal proceedings have yet been issued, but the Company is prepared to issue related proceedings in the event that a resolution cannot be achieved swiftly.
As a result, the Company is unable to launch Skin + CELL at this time.
The Company has previously provided revenue and profit forecasts for its financial year ending 31 March 2025, arising from the expected sales of Skin + Cell products. As a result of the above, and the consequent delay to the launch of Skin + Cell, the Company retracts its previous market forecasts. The Board of the Company is resolute in its position and remains confident for the future launch of its products.
The Company will update the market further when it is in a position to do so.
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation no 596/2014 which is part of English law by virtue of the European (withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
For further information please contact:
| Incanthera plc
Tim McCarthy, Chairman
Simon Ward, Chief Executive Officer
Suzanne Brocks, Head of Communications
|
+44 (0) 7831 675747
+44 (0) 7747 625506
+44 (0) 7776 234600 |
| Aquis Exchange Corporate Adviser: Cairn Financial Advisers LLP Jo Turner / Liam Murray / Ed Downes
| +44 (0) 20 7213 0880 |
| Broker: Stanford Capital Partners Ltd Patrick Claridge / Bob Pountney | +44 (0) 20 3650 3650/51 |
Notes to Editors
About Incanthera plc
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
@incantheraplc
About Skin + CELL
Skin + CELL is Incanthera's luxury skincare brand utilising our ground-breaking formulation and delivery expertise, to bring scientifically proven formulations to cosmetics. Skin + CELL's complementary range of products are based on advanced, clinically designed, formulation concentrates which combine leading edge pharmaceutical enhancement technology with selected prestige cosmetic ingredients to give an effective product which gives a silky emollience in use and leaves the skin visibly radiant, energised and protected.
Incanthera's new bioactive skincare technology has been developed by our in-house experts who have previously formulated topical products for some of the world's leading skincare and pharmaceutical companies. The formulations fortify otherwise depleted physiological pathways to improve the skin's performance, ability to self-repair and to address previously unmet cosmetic conditions in skin health.
Skin + CELL's luxury skincare current range extends across face, body, hand, face serum and eye cream, and will also include bioactive SPF concentrations and further derivatives of vitamins in the future.
Forward looking statement disclaimer
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
