Incanthera raises £360,000 via convertible loan notes to fund partner shift
What's the deal? IncantheraDealroom has a profile for this one. Try Dealroom →, an AQSE-listed dermatology and oncology technology company, has completed a £360,000 financing through unsecured convertible loan notes issued to new and existing investors. The notes convert into ordinary shares at 2 pence each — an 18% discount to the 10-day volume-weighted average price of 2.44 pence — carry 3.75% annual interest, and mature in two years.
Where's the money going? Proceeds will cover general working capital and advance commercial discussions with iSmart Developments LimitedDealroom has a profile for this one. Try Dealroom →, first flagged on September 7, 2026.
Why now? Chief executive officer Stuart Robertson said the round lets Incanthera "repay some of its creditors and most critically helps to fund future transaction costs." He framed the raise as supporting the company's move away from a marketing-sponsored, direct-to-consumer model toward a partner-led skincare biotech development and supply model.
The fine print: Incanthera will also issue 710,000 warrants exercisable at 2 pence each, which could raise a further £14,200 if exercised in full. Both the notes and warrants convert only once the company secures sufficient shareholder authority to allot the underlying shares.
The signal: The modest size and creditor-repayment focus point to a company managing its balance sheet through a strategic pivot rather than raising for growth. Robertson said he expects the trend of "growing interest in supporting the company's transition" to continue.
Read more: investegate.co.uk
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