Incanthera PLC - Corporate Update

This announcement contains inside information for the purposes of the UK Market Abuse Regulation,

and the Directors of the Company are responsible for the release of this announcement.

7 September 2026

Incanthera plc

("Incanthera", the "Company")

Exclusive bioactive creams supply agreement with LED skincare manufacturer, iSmart

Agreement to generate maiden contracted recurring sales revenues for Incanthera

Incanthera plc (AQSE: INC), a company specialising in developing and supplying innovative technologies for dermatology and oncology, has signed an exclusive bundled distribution agreement with iSmart Developments Limited, ("iSmart"), a leading UK developer and supplier of LED light-therapy devices for professional and home skincare use globally, to supply bioactive creams annually for use with LED skincare devices.

This is a significant step forward for the Company as it seeks to accelerate its transition from a marketing-led direct-to-consumer model to a more focused contracted, partnership-led skincare technology supply business.

iSmart manufactures leading LED brands including Omnilux™ and faceLITE™, supplying approximately 1m LED devices annually, including to the US and Australia, holding multiple patents covering its LED technologies, whilst its latest five-wavelength 5G mask has recently received FDA clearance in the United States.

The global LED skincare market is forecast to grow at over 10% CAGR to almost £2bn by 2035.

Key strategic rationale:

·    Exclusive bundled distribution agreement: Contracted annual minimum orders of the Company's bioactive skin creams in support of iSmart's current annual sales of c.1m LED devices predominantly into North America and Australia.

·    Access to established global distribution at scale: iSmart is the UK's leading manufacturer behind global LED skincare brands including Omnilux™ and faceLITE™.

·    Sold by leading global retailers: Omnilux™ and other brands supplied by iSmart are sold in stores around the world operated by some of the leading retail names in the industry.

·    Supported by partner-conducted human trial data: In a split-face consumer trial undertaken by iSmart, 100% of participants rated the cream + LED side as improved versus baseline, while 87% reported that the side treated with the Company's cream was smoother and better hydrated.

·    Pipeline beyond the initial contract: Discussions are underway to broaden this initial agreement to include further testing and supplying creams for the next-generation ultra-light wearable LED devices, extending the Company's addressable market beyond conventional skincare retail.

·    Strategy validated and de-risked: The agreement delivers on a multi-channel, partnership-led model set out in announcements made on 4 June and 13 July 2026: Incanthera is focused on supplying scientific, formulation and intellectual property; its established partners supply manufacturing scale, distribution and market access.

Following positive results from a controlled study with iSmart, 87% of participants reported smoother, better-hydrated skin when using iSmart's LED mask with the Company's bioactive cream, with no participants preferring the mask alone. While the study was not designed as a fully powered efficacy trial, the results were considered supportive and directionally positive, with a larger three-arm study planned.

Following these results, iSmart appointed Incanthera as its exclusive supplier of bioactive creams for future LED treatments, including contracted annual minimum order quantities. Both Incanthera and iSmart are also exploring a broader collaboration, including clinical trials supporting iSmart's new ultra-light wearable 5G LED devices integrated into sports and casual apparel.

The Board sees significant potential across North America, Asia-Pacific and Europe.  As the details and timing of the first bundled products to be supplied under the distribution agreement are agreed and any further collaboration, including clinical trials, develop, the Company will update the market in due course.

Stuart Robertson, Chief Executive Officer of Incanthera, commented:

"Our new partnership with iSmart underscores the value of our skincare IP and formulation expertise and brings together our bioactive formulation capabilities with a highly complementary commercial partner with genuine global scale and reach."

"We are continuing to leverage our science and formulation know-how, whilst expanding our global reach through partnerships with organisations that can provide manufacturing scale, established routes to market and access to new customers."

"With commercial momentum now building and a clear strategy in place, I believe the business is firmly on the right path to deliver sustainable growth over the medium term."

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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 started as a spin-out 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 identifying commercial partnerships at the earliest opportunity in the development pathway.

For more information on the Company please visit: www.incanthera.com / @incantheraplc

About Incanthera's Skincare Portfolio

The Company's skincare offering centres on its flagship brands, Skin+CELL and énielle. These cosmetic products leverage proprietary delivery platforms and advanced formulation techniques to integrate scientifically validated bioactive ingredients into the cosmetic sector. Skin+CELL is positioned as our luxury, clinically-driven skincare brand, merging pharmaceutical enhancement systems with premium cosmetic ingredients to provide high-performance solutions that protect and energise the skin for a radiant appearance. Énielle further expands on this with more natural and organic skincare products, utilising deep scientific foundations to address various consumer needs across multiple categories. All of our products are underpinned by real science and cumulative clinical and customer data.

Developed by experts with significant experience in topical formulations for global pharmaceutical and skincare leading brands, our bioactive technologies focus on reinforcing physiological pathways. These innovative formulations enhance natural repair mechanisms and address critical gaps in skin health. Our skincare portfolio includes dedicated solutions for the face, body, and eyes, including serums and hand care. Looking ahead, the Company continues to innovate with plans for advanced new bioactive SPF products and sophisticated vitamin derivative technologies which combine skincare creams and serums with other skin repair mediums such as hardware and software devices.

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 statements 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.