Incanthera PLC (AQSE:INC) has raised just over half a million pounds from a group of institutional investors, company directors, and management to accelerate the launch of its skincare brand Skin + CELL, it said on Monday.
The funding will support the early August rollout of the range, which is being marketed through a direct-to-consumer campaign involving influencer partnerships and digital advertising.
Sales will be handled through a dedicated e-commerce platform showcasing the full product line.
The company said it had secured £508,000 through a share subscription, a form of fundraising where new shares are issued directly to investors at a fixed price; in this case, 3.5p per share, matching the market price at close on 27 June.
A total of 14.5 million new shares were issued, with participation from existing institutional backers, all company directors, members of the management team, and Stuart Robertson, a director of Incanthera's skincare subsidiary Skin + Cell AG.
In addition to the capital raise, Incanthera said it had agreed to settle £72,000 in outstanding debts by issuing 2,057,143 new shares on the same terms.
It also granted 781,166 share warrants to advisers, giving them the right to buy shares in the company at a future date.
The funding and debt settlement will allow Incanthera to bring forward its product launch, originally planned for later in the third quarter, as it looks to build commercial momentum behind its premium dermatology offering.