Incanthera Regulatory News (INC.PL)

 31 March 2026

Incanthera plc

("Incanthera", the "Company" or "Group")

Commercial Update

Incanthera plc, the company focused on innovative technologies in dermatology and oncology, provides a commercial update for the first quarter of 2026.

In August 2025, Skin+CELL was launched globally through the Company's dedicated direct-to-consumer ("DTC") website, www.skinandcell.com, following a digital marketing strategy which was executed by brand ambassadors and influencers and rolled out across well-known social media platforms. The Company notes the positive customer feedback and the level of interest shown by different demographics across multiple jurisdictions. However, sales to date through the DTC platform have been disappointing and slower to develop than initially estimated with sales of 177 units, generating £12,400 in revenue (£20,300 in revenue at full RRP before discounts and offers).

The Company continues to look at ways to evolve the DTC website sales and additional work is currently in progress to refresh the website content, messaging and publicity campaign.

In addition to the DTC website, the Company has maintained that it would pursue a multi-channel strategy, targeting larger bulk sales to complement the higher margin DTC channel and it continues to do so. Discussions initiated in late 2025 have continued regarding potential retail distribution of Skin+CELL in Europe, Asia and the Middle East and the Company is in active sales discussions with three interested parties regarding bulk orders. 

The Company previously notified to the market that it anticipated selling its stock holding of 100,000 units by the end of its financial year to 31 March 2026 by virtue of the volume sales being discussed at the time. The Company now notes that a large volume sale will not occur before the year end. The Board considers that each of the potential customers involved in these discussions has the financial strength and distribution capacity to acquire the Company's stock holding and it remains optimistic of delivering a volume sale from at least one of these parties. As yet the Company has not signed an agreement with any of these entities and there can be no certainty that these discussions will progress to an order or that any orders will result in the purchase of all the Company's remaining stock.

The Board is also pursuing a number of broader initiatives to develop the Company's revenues streams. The first of these is a technology licensing opportunity which was first identified in late 2025, in which the potential licensee is undertaking, at their own cost, a randomised, controlled interventional study in healthy volunteers to evidence that the performance of their existing marketed product offering is enhanced and improved when used in conjunction with Skin+CELL. As part of the collaboration, the Company will be provided with the supporting data.

The Company is also further continuing its internal product development with the focus being the Company's SPF range which is advancing towards preparation for manufacture. The Company's expectation, following market feedback, is that, when ready, this product will be well received through all the different routes to market the Company is currently establishing.

In Q1 2026 the focus has been on commercial progression in international and domestic markets for sales of Skin+CELL, in addition to ongoing collaboration and licensing discussions for the Company's technologies.

Whilst the Board remains optimistic of forthcoming revenue growth given, in particular, the current status of the Company's discussions regarding retail distribution sales, the collaboration opportunity and licensing routes, the slower than anticipated level of revenue to date means that the Company is needing to manage working capital carefully. The Board does not currently anticipate needing to raise near-term funding and, in the event short-term funding is required, the Directors and management will seek to provide additional financial support.

Simon Ward, CEO, commented:

"The pace of retail sales through the DTC is not at the level we expected however, we are encouraged by the numerous opportunities to expand into new markets, new product initiatives and through collaboration, demonstrating the wider strategy with which we can grow the company, with unique science and technologies at its core.

"We look forward to updating the market further on these activities as we progress."

This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and the Directors of the Company are responsible for the release of this announcement.

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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.