Supply of Products to New US Customer

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                                                              [phone]

Global Investment Strategy UK Limited (Joint Broker) James Sheehan	[phone]
Powerscourt Group
Sarah MacLeod / Sam Austrums / Nick Johnson	[phone]

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

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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