- Incanthera joined Aquis Exchange in February
- Raised £1.2mln ahead of IPO
- Has developed novel cream, Sol, to treat and prevent skin cancer.
How it’s doing
Sol, the cream, has already gone through the proof of concept stage and Incanthera (LON:INC) is looking for a partner to help it through the product development and marketing stage.
The technology uses a proprietary formulation and prodrug targeting technologies to deliver treatment specifically to the tumour.
Originally a spin-out from Bradford University’s Institute of Cancer Therapeutics, the aim is to find a commercial partner for Sol within 12-18 months.
Incanthera has also rights to a portfolio of ICT’s other cancer-targeting therapeutics and will use partnerships to take other candidates from this portfolio to market.
Aim-listed biotech Immupharma PLC (LON:IMM) has an 11.9% stake and warrants at the listing price of 9.5p plus an option to subscribe for a further £250,000 worth of shares by end October.
Financial results for the twelve months ended March 31, 2020, showed an operating loss of £1.12mln and the group ended the period with £392,000 of cash.
What the boss says: Simon Ward, CEO
Sol has huge potential in both the therapeutic and cosmetic markets, where it can help remove Solar Keratoses, which are a common cause of skin cancer, as well as being a preventative application.
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What the broker says
Research house Hardman says Incanthera offers distinct technology with the potential to attract the attention of the majors, especially given management’s strategy to out-license products early.
"The focus, initially, will be on Sol, a patent-protected, value-added, sun cream, which represents a relatively quick and low-risk cosmetics project.
"The current enterprise value (EV) suggests that there is good upside potential when comparing the company with a group of UK-listed peers working in the same field."