REG - Celadon Pharma. PLC - Supply of Products to New US Customer

Celadon PharmaceuticalsAnnouncement

23/05/2024 07:00

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RNS Number : 5536P  Celadon Pharmaceuticals PLC  23 May 2024

 

Celadon Pharmaceuticals Plc

 

("Celadon", or the "Company")

 

Supply of Cannabis-Based Products to New US Customer

London, 23 May 2024 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based
pharmaceutical company focused on the development, production and sale of
breakthrough cannabis-based medicines, announces that, following the signing
of an introductory sales contract with a long-established American business,
it has successfully shipped two different medical cannabis products to the
United States, representing the Company's first international commercial
supply. The American business is a supplier to a number of different US
Government departments, and this initial sale has the potential to grow into a
material source of additional revenue.  The product has been supplied from
the Company's UK facility.

Following the announcement of Celadon's first European supply contract in
November 2023, which has a potential contract value of £26m over three years,
today's announcement demonstrates the Group's ability to export product and is
testament to the growing international demand for Celadon's high-quality, high
Δ-9-tetrahydrocannabinol cannabis products.

 

James Short, CEO of Celadon, commented:

 

"We are delighted to have completed our first international commercial
shipment, especially as it has been made to the United States, the world's
largest pharmaceutical market. Combined with our European sales contract,
which we intend to begin supplying in H2 2024, this shows the strong
international export potential of Celadon's high-quality medical cannabis
products, in addition to the significant domestic market opportunity.

"Our cannabis-based medicines consistently meet the highest standards of
efficacy and safety, which is required by current and potential customers, and
ultimately patients. This is a direct result of our rigorous manufacturing
processes and stringent quality control measures, which have been shown to be
industry leading. As today's announcement demonstrates, we are able to deliver
pharmaceutical-grade medical cannabis successfully not only to the UK, but
also to mainland Europe, the USA and beyond."

 

 

Enquiries:

Celadon Pharmaceuticals Plc

James Short
                                                 Via
Powerscourt

Jonathan Turner

Canaccord Genuity Limited (Nominated Adviser and Broker)

Bobbie Hilliam / Andrew Potts
                             +44 (0)20 7523 8000

 

 Global Investment Strategy UK Limited (Joint Broker)

 James Sheehan                                                                                  +44 (0)20 7048 9400

 Powerscourt Group
 Sarah MacLeod / Sam Austrums / Nick Johnson                                                    +44 (0)20 7250 1446

About Celadon Pharmaceuticals Plc

Celadon Pharmaceuticals Plc is a UK based pharmaceutical company focused on
the research, cultivation, manufacturing, and sale of breakthrough
cannabis-based medicines. Its primary focus is on improving quality of life
for chronic pain sufferers, as well as exploring the potential of
cannabis-based medicines for other conditions such as autism. Its 100,000 sq.
ft UK facility is EU-GMP approved and comprises indoor hydroponic cultivation,
proprietary GMP extraction and manufacturing and an analytical and R&D
laboratory. Celadon's Home Office licence allows for the commercial supply of
its GMP pharmaceutical cannabis product. The Group owns an approved clinical
trial using cannabis based medicinal products to treat chronic pain in the UK.
Celadon also has a minority interest in early-stage biopharma Kingdom
Therapeutics which is developing a licensed cannabinoid medicine to treat
children with Autism Spectrum Disorder.

 For further information please visit our website www.celadonpharma.co.uk
(http://www.celadonpharma.co.uk)

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication
of this announcement, this information is now considered to be in the public
domain.

 

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