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:
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.