22 May 2025

Incanthera plc

("Incanthera" or the "Company")

Commercial Update

Incanthera plc (AQSE: INC), the Company focused on innovative technologies in dermatology and oncology, provides the following commercial update regarding the launch of Skin + CELL, its premium skin care range.

In December 2023, the Company announced that it was launching its Skin + CELL range with Marionnaud Switzerland and Austria ("Marionnaud"), part of the A.S. Watson Group. The Company advises that Marionnaud will not be proceeding with any partnership with the Company to progress the Skin + Cell products.

In the announcement of 25 March 2025, the Company reported the successful resolution of allegations of patent infringement in relation to the formulation of Skin + CELL, and that the Company was engaged in discussions with multiple groups, exploring various market entry strategies.

The Company advises that it is in the process of finalising the terms of a business agreement (the "Agreement") with a global Direct To Customer ("DTC") marketing agency (the "Agency"), anticipated to be signed in the next week.

Under the terms of the Agreement, the Agency will launch Skin + CELL across its platform, utilising its influencers and social media to raise awareness and to market the product and generate sales orders. The Agency will be remunerated solely on a success-based royalty model, proportional to the level of sales revenue generated via the DTC campaign.

The Company will be responsible for completing sales orders via a dedicated Skin + CELL website, designed to market the full product range, and to receive sales orders. Sales orders will be fulfilled by a third-party logistics (3PL) company in Switzerland, that will hold the current Skin + CELL stock, receive the sales orders and send direct to the customer.

The Company currently has 100,000 units of finished product of Skin + CELL in stock ready for sale. This extends across the range including face, body and hand products. It is anticipated that launch will be in Q3 2025 and that the full 100,000 units will be sold in the current financial year to 31 March 2026.

The Company has chosen to launch Skin + CELL through a DTC campaign as it will:

·  Maintain control of the marketing and timing of the launch of Skin + CELL.

·  Maintain control of the (premium) retail selling price of the range.

·  Gain market penetration with global presence.

·  Build brand validation & extensive dissemination of brand value.

·  Build a proprietary database of customers.

Benefits to the Company and shareholders:

·  Increased revenues by selling direct to the customer.

·  Greatly increased gross margins attributable direct to the Company.

·  Immediate positive cash flow as payments for orders are received in real time.

Further updates will be made to the market in due course.

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation no 596/2014 which is part of English law by virtue of the European (withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

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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 delivery 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.