Last checked at 25 Mar 2024 07:25
25 March 2024
ImmuPharma PLC
("ImmuPharma" or the "Company")
Incanthera Provides Commercial Update
and Revenue Forecasts
ImmuPharma PLC (LSE AIM: IMM), the specialist drug discovery and development company, is delighted to highlight the announcement issued this morning by Incanthera plc ("Incanthera"), the dermatology and oncology specialist, in which ImmuPharma currently holds a 10.8% shareholding.
Within the announcement, Incanthera announces an update on its commercial skincare deal, announced in December 2023, with Marionnaud (part of the A.S. Watson Group).
Under the terms of the deal, Skin + CELL will be initially launched in c. 100 of Marionnaud's stores in Switzerland and Austria, followed by a planned roll out into the remaining 1,100 European stores, with subsequent anticipated roll outs into major Asian markets.
Incanthera has announced that the first order from Marionnaud has now doubled from 25,000 units to 50,000 units due to the strong demand anticipated by Marionnaud's management and that this first order, on track to be delivered during Q2 2024, will generate c. £2m revenue for Incanthera.
Incanthera also confirms that it projects revenues of £10m and profitability, for the financial year ("FY") to 31 March 2025, growing to revenues of £33m and increased profitability, in the following FY to 31 March 2026.
More insight into Incanthera's technology and deal with Marionnaud is illustrated through the initiation of a Research Note by Stanford Capital Partners, which will shortly be available on the Incanthera plc website www.incanthera.com.
Incanthera trades on Aquis Stock Exchange ("AQSE") under the ticker (AQSE:INC). For full details of the announcement, please visit Incanthera's website: https://incanthera.com/investors/regulatory-news/.
Commenting on Incanthera's announcement, Dr Tim Franklin, COO of ImmuPharma said: "As a major shareholder in Incanthera, we are delighted with this further progress and in particular Incanthera's revenue momentum and move into profitability. This highlights the strong financial asset we have in Incanthera and the enormous opportunities within the company's revolutionary skincare range and its partnership with Marionnaud."
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Notes to Editors
About ImmuPharma PLC
ImmuPharma PLC (LSE AIM: IMM) is a specialty biopharmaceutical company that discovers and develops peptide-based therapeutics. The Company's portfolio includes novel peptide therapeutics for autoimmune diseases and anti-infectives. The lead program, P140 (Lupuzor?), is a first-in class autophagy immunomodulator for the treatment of Lupus and preclinical analysis suggest therapeutic activity for many other autoimmune diseases that share the same autophagy mechanism of action.
For additional information about ImmuPharma please visit www.immupharma.co.uk
ImmuPharma's LEI (Legal Entity Identifier) code : 213800VZKGHXC7VUS895.
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.
Incanthera 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 Incanthera please visit: www.incanthera.com