TIDMINC
RNS Number : 1178X
Incanthera PLC
18 December 2023
18 December 2023
Incanthera plc
("Incanthera" or the "Company")
Commercial Skincare Deal with Marionnaud (part of the A.S.
Watson Group)
Oversubscribed Institutional led Subscription and Conversion for
GBP1.0m
Incanthera plc, the specialist company focused on dermatology
and oncology, is delighted to announce a commercial deal for the
launch of Skin + CELL (Incanthera's unique, high-end skincare
range) with Marionnaud Switzerland and Austria ("Marionnaud"), part
of the A.S. Watson Group ("A.S. Watson").
A.S. Watson is the world's largest international health, beauty,
and lifestyle brand retailer with 16,100 stores serving 5.3 billion
customers across 28 markets.
Skin + CELL is Incanthera's new luxury skincare brand utilising
our ground-breaking formulation and delivery expertise, bringing
scientifically proven formulations to cosmetics.
The launch of Skin + CELL with Marionnaud is transformational
for Incanthera and based on the potential market forecasts of
Marionnaud, is expected to generate significant revenues and
profitability in 2024 and beyond.
DEAL HIGHLIGHTS:
-- Incanthera's unique skincare range will be launched under our
luxury skincare brand Skin + CELL which will be available
exclusively initially in Marionnaud's stores in Switzerland and
Austria from Q2 2024 with the roll out into the remaining 1,100
stores across European markets expected to follow thereafter in
2024.
-- Further rollouts are being planned across Asia. These are
considered ideal markets for our products given the consumer focus
on skin-health and beauty and A.S. Watson's sheer dominance in
these retail markets.
-- The launch of Skin + CELL is expected to generate significant
revenues and profitability for Incanthera, in 2024 and beyond.
-- To meet the initial launch orders for Switzerland and
Austria, Incanthera is manufacturing 25,000 units , increasing
accordingly as the roll out progresses into Europe and Asia.
-- Manufacturing, quality control and packaging of Skin + CELL
has been sub-contracted to Frike Cosmetic AG ("Frike"),
Switzerland's leading skincare contract manufacturer producing
skincare for the world's leading skincare brands with the
experience and focus on quality and excellence.
This commercial deal with Marionnaud, is managed through Skin
and Cell AG ("S+C"), Incanthera's wholly owned subsidiary based in
Switzerland, which has been formed specifically and exclusively for
the worldwide promotion and distribution of Incanthera's Skin +
CELL skincare range of products.
In addition, Incanthera has contracted the manufacturing of our
skincare range to Frike via S+C in Switzerland. Frike is the
largest independent contract manufacturer in Switzerland, with over
70 years' experience in manufacturing the highest quality skincare
products for some of the world's leading skincare brands in the
market. Frike has assumed responsibility for the manufacturing,
packaging and quality control of our product range to satisfy our
international retail contracts.
Incanthera's skincare technology harnesses unique delivery
pathways through recently patented formulations designed by our
in-house experts who have previously formulated skincare for some
of the world's leading skincare and pharmaceutical companies. These
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 unique formulations, enriched with targeted
bioactive B3 (an activated form of niacinamide) is delivered
directly into the skin's cells to optimise cellular health, energy
and protective capabilities.
-- Independent studies show Incanthera's technology is uniquely
effective in delivering Bioactive B3 below the dermal barrier,
energising the living cells of the skin to maintain natural health
and protection against adverse environmental challenges and
maintaining even skin tones.
-- 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.
-- Skin + CELL's luxury skincare range currently extends across
face, serum, body, and hand and will include SPF concentrations and
further bioactive derivatives of vitamins in the future.
Subscription, Conversion and Admission
In order to fund the initial launch orders and to provide it
with additional working capital, the Company is pleased to announce
that it has raised GBP1.0 million by way of a subscription and
conversion for new ordinary shares at a premium.
The fundraise, which was oversubscribed and supported by both
new institutional investors and existing long term institutional
shareholders, has raised GBP800,000 by way of a subscription
("Subscription") for 11,428,571 new ordinary shares ("Subscription
Shares") at a price of 7p per Subscription Share, an 11.1% premium
to the mid-price at close of trading on Friday, 15 December 2023 of
6.30p. The Company is optimistic that manufacturing for future
orders will be funded by way of trade finance, preserving equity
value for shareholders.
Pursuant to a variation of the Pipeline agreement with the
University of Bradford ("UOB") entered into on 31 August 2022, UOB
has elected to convert GBP200,000 owed to it into 2,857,143 new
ordinary shares ("Conversion Shares") at the same price as the
Subscription. UOB was a founding shareholder of the Company and
continues to support its development. Following admission to the
AQSE Growth Market ("Admission") of the Subscription Shares and the
Conversion Shares (together "New Ordinary Shares"), UOB will be in
interested in 10,349,183 ordinary shares, representing 11.2 per
cent. of the Company's enlarged issued share capital.
Additionally, the Company has granted warrants to advisers to
subscribe for 800,000 new ordinary shares at a price of 7 pence per
share for a period of 10 years.
The New Ordinary Shares represent 15.5 per cent. of the enlarged
issued share capital of the Company upon Admission. The New
Ordinary Shares will rank pari passu with the existing ordinary
shares and application has been made for Admission which is
anticipated to occur at 8.00 a.m. on or around 21 December
2023.
Following Admission of the New Ordinary Shares, the Company's
enlarged issued share capital will comprise 92,109,880 ordinary
shares of 2 pence each. This figure may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in the interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
Commenting on the announcement:
Dr Simon Ward, Chief Executive of Incanthera plc
"I am delighted to deliver our first commercial cosmetic
skincare deal and especially with Marionnaud, part of the A.S.
Watson Group, the world's largest international health and beauty
retailer.
To have agreed the first launch of our new skincare technology
platform with Marionnaud who have demonstrated such keen enthusiasm
and demand for our Skin + CELL bioactive skincare range, is
recognition of Incanthera's expertise in formulation and delivery
technologies in skincare.
We look forward to working in partnership with Marionnaud and
the further A.S. Watson Group in 2024 and beyond."
Tim McCarthy, Chairman of Incanthera plc
"Today's announcement marks a huge milestone for Incanthera. A
truly transformational moment for the Company and for our
longstanding and very supportive shareholders.
This is the culmination of many years of innovative research and
development, hard work, and ultimately successful negotiation of
the introduction of our Skin + CELL product range into the
extensive store network of Marionnaud and A.S. Watson, the
undisputed global leader in health and beauty retailing."
I take this opportunity to recognise the patience of our
longstanding shareholders and our advisers and to thank you for
your unwavering support.
I am also delighted at the enthusiasm and support received in
the fundraise we have just achieved and to welcome new investors to
Incanthera. This fundraise has received unanimous support including
new and existing long-standing holders and institutional investors,
which evidences the strong recognition of the scale of this
commercial deal and its potential impact on the future of
Incanthera.
We now look forward to delivering on our promise to build great
value creation through our innovative technology and its
introduction into the global market."
Emilio Leon, Managing Director, Marionnaud Switzerland and
Austria
"I am delighted with the new Skin + CELL concept of skincare
developed with Incanthera plc. We are very excited to bring this
into Marionnaud as part of our exclusive luxury skincare
range".
Daniel Mertl, Product Manager, Sales and Business Development,
Frike Cosmetic AG, Switzerland
"I love the new Skin + CELL skin creams based on Incanthera's
unique skincare technology. I see a lot of skincare products come
and go in my role as global product manager for sales at Frike and
Skin + CELL is definitely one of the most exciting products I have
seen in a very long time. I really believe in its future success,
and I am very happy Frike can be part of this".
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
Incanthera plc
www.incanthera.com
Tim McCarthy, Chairman
tim.mccarthy@incanthera.com +44 (0) 7831 675747
Simon Ward, Chief Executive Officer
simon.ward@incanthera.com +44 (0) 7747 625506
Suzanne Brocks, Head of Communications
suzanne.brocks@incanthera.com +44 (0) 7776 234600
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 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 Marionnaud
Marionnaud is the largest luxury perfumery and cosmetics chain
in Europe with over 1,220 stores and a 27% market share in France.
Marionnaud is part of the AS Watson Group based in Hong Kong, the
world's largest international health and beauty retailer.
https://www.marionnaud.com
About A.S. Watson
The A.S. Watson Group is the world's largest international
health and beauty retailer, with 16,100 stores in 28 markets,
primarily in Asia and Europe. A member of CK Hutchison Holdings,
A.S. Watson operates the world's largest portfolio of retail
formats, retail brands and has the largest geographical
presence.
http://www.aswatson.com/
https://youtu.be/IZ6TolZi4Go
About Frike Cosmetic AG
Frike Cosmetic AG is the largest independent contract
manufacturer in Switzerland with over 70 years' experience in
manufacturing private and branded products for customers with
leading names around the world. As an experienced market presence,
Frike is an expert in all areas of core contract manufacturing
within the international market.
https://www.frike-group.com
About Skin + Cell
Skin + CELL is Incanthera's revolutionary (biotech) skincare
range that leverages the power of cutting-edge delivery technology
with a unique formulation to activate skin's cells to perform
optimal repair, restore and protective functions, bringing
scientifically proven formulations to cosmetics.
Incanthera's recent commercial discussions identified a
recognised demand across the vast skincare and health and beauty
marketplace for innovative formulation technologies that improve
efficacy, protection and reduce side effects with delivery
capability to reach critical cellular level to effect action and
change.
The skincare market (including dermatology and cosmetics) is
massive and growing rapidly, with global revenues projected to
reach $180 billion by 2024.
Skin + CELL's formulations fortify pathways, with targeted
bioactive Vitamin B3, to improve the skin's performance, ability to
self-repair and address previously unmet cosmetic solutions for
conditions across skin health.
This range will now be launched under Incanthera's own luxury
skincare brand Skin + CELL.
Skin + CELL's luxury skincare range currently extends across
face, serum, body and hand and will include SPF concentrations and
further bioactive derivatives of vitamins in the future.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
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.
END
NEXGPGPGPUPWPWM
(END) Dow Jones Newswires
December 18, 2023 02:00 ET (07:00 GMT)
Incanthera (AQSE:INC)
Historical Stock Chart
From Nov 2024 to Dec 2024
Incanthera (AQSE:INC)
Historical Stock Chart
From Dec 2023 to Dec 2024
