Celadon Pharmaceuticals PLC Product Supplied to First Two Sales Contracts (6996W)
2023年12月14日 - 4:00PM
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RNS Number : 6996W
Celadon Pharmaceuticals PLC
14 December 2023
Celadon Pharmaceuticals Plc
("Celadon", the "Group" or the "Company")
Product supplied to first two sales contracts
London, 14 December 2023 - Celadon Pharmaceuticals Plc (AIM:
CEL), a UK-based pharmaceutical company focused on the development,
production and sale of breakthrough cannabis-based medicines, is
pleased to announce the first supply of its pharmaceutical-grade
product to the two commercial contracts announced on 24 May and 5
September 2023 respectively.
The supply of product follows the successful completion of the
Company's latest harvest from its UK-based facility, which is being
used to fulfil its commercial contracts. Periodic invoicing has now
commenced for both contracts, announced in May and September 2023,
the first of which is worth a minimum of GBP3 million of revenue,
with up to GBP1.2 million of revenue anticipated for the second
contract.
Since the announcement of these first two contracts, the Company
signed a further commercial contract on 16 November 2023 with a
leading European medicinal cannabis company. This latest contract
has the potential to generate revenue to Celadon of up to GBP26
million over three years, with the first delivery anticipated in H2
2024.
These three initial sales contracts follow the Company's receipt
of Good Manufacturing Practices ("GMP") registration from the
Medicines and Healthcare products Regulatory Agency ("MHRA") in
January 2023, and subsequent update to Celadon's Home Office
licence in March 2023.
James Short, Chief Executive Officer of Celadon, said:
"The first supply of our pharmaceutical-grade product is a very
significant milestone for both Celadon and the wider industry. It
has taken four years of hard work from our incredible team to get
here.
"Having achieved our licenses and secured our initial commercial
contracts, today demonstrates that we are successfully supplying
product and realising revenue.
"Celadon's focus on the highest standards of product quality is
essential to meeting the high expectations of our customers, as
well as building trust in the UK's medical cannabis market.
Pleasingly, we are already seeing strong levels of demand for our
product and, supported by the high barriers to entry for new
producers, we remain confident in our long-term growth
prospects."
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)
Callum Hill +44 (0)20 7048 9400
Powerscourt Group
Sarah MacLeod / Nick Johnson / Sam Austrums +44 (0)20 7250 1446
About Celadon Pharmaceuticals Plc
Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company
focused on the development, production 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 an analytical and R&D laboratory. Celadon's Home Office
licence allows for the commercial supply of its
pharmaceutical-grade 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.com
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amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
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END
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December 14, 2023 02:00 ET (07:00 GMT)
Celadon Pharmaceuticals (LSE:CEL)
過去 株価チャート
から 4 2024 まで 5 2024
Celadon Pharmaceuticals (LSE:CEL)
過去 株価チャート
から 5 2023 まで 5 2024