Incanthera (LSE:INC) shares rocketed 41.2% higher on Thursday, to 1.85p, as impactful deal news promised a stepchange in the company's commercial offering.
The small-cap this morning announced an all‑share acquisition of Swiss premium skincare brand Énielle.
Énielle, described as a lectin‑derived daytime cosmetic platform, is being bought with a package of up to 54 million new Incanthera shares, priced at 2p. It comprises 13.79 million shares issued on completion and up to 40.21 million payable after six months subject to agreed performance criteria.
The London-listed company said the acquisition creates near‑term commercial opportunities including inventory monetisation, premium retail programmes, increased direct‑to‑consumer engagement, subscription models and cross‑selling.
As part of the deal, Stuart Kinnear Robertson was appointed chief executive, and he is providing a convertible loan funding facility of up to £250,000. Some £100,000 will be drawn immediately for working capita. The loan notes are convertible at 2p per share, mature in two years.
Énielle has benefited from approximately £3m of prior investment, has manufactured over 15,000 serum units and currently holds approximately 6,000 finished units available for sale.
Incanthera says the brand complements its Skin+CELL evening cosmeceutical platform, to form a "protect by day, repair by night" retail offering.
"I am excited to join the Company at this pivotal time in its science led journey to providing better skin health for people around the world," said the new incoming CEO Stuart Robertson.
Meanwhile, Dr Simon Ward will move to become Incanthera's Chief Scientific Officer, and Tim McCarthy has stepped down as Executive Chairman. The company added that it will now look to appoint a non‑executive Chair.
