Celadon Pharmaceuticals
Plc
("Celadon", the "Group" or
the "Company")
Early Economic Analysis of
CANPAIN Feasibility Study Data
London, 7 March 2024 - 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 results of an
early economic analysis of the data collected as part of the
feasibility study for its fully approved chronic pain clinical
trial ("CANPAIN").
The analysis was undertaken by York
Health Economic Consulting ("YHEC"), which provides consultancy and
research services in health economics. The findings of YHEC's
analysis are as follows:
-
Patients on the feasibility study recorded an almost 50% (49.6%)
reduction in pain scores in the first month of using cannabis-based
medicines, with this reduction in pain being sustained throughout
the three-month study.
-
Patients saw a significant improvement in their mean quality of
sleep scores of 1.6 points (p=0.01) and a reduction in the use of
opioids and associated medicines.
- When
assessed using the economic framework recommended by NICE, adding
cannabis-based medicines to the Standard of Care was found to
deliver a cost-effective solution and, depending on the price
point, a cost saving to the National Health Service
("NHS")
-
Patients' quality-adjusted life years also increased.
Background
In October 2018, the UK's National
Institute for Health and Care Excellence ("NICE") issued a call for
evidence to evaluate the safety and clinical efficacy of
cannabis-based medicines for use in humans. In response, Celadon
drew up plans for its own clinical trial, which it called CANPAIN.
In August 2023, following a three-month feasibility study, the NHS
Research Ethics Committee approved the CANPAIN trial for up to
5,000 patients.
After completing the feasibility study, Celadon commissioned YHEC
to carry out a comprehensive and independent review of the data
generated, and to construct an early economic model. YHEC's
findings underscore the safety, tolerability and effectiveness of
Celadon's cannabis-based medicines when delivered via an inhalation
device for individuals suffering from non-cancer chronic
pain.
These findings, which will be built
on by the additional data generated by the forthcoming CANPAIN
trial, offer a solid foundation for Celadon's engagement with NICE,
the NHS and private health insurers in relation to the
reimbursement of the cost of cannabis-based medicine treatment. The
data represents a significant step towards fulfilling the unmet
needs of the millions of patients living with chronic pain in the
UK, providing a potential alternative to current treatments
(including opioids).
Celadon remains committed to
advancing healthcare solutions that improve quality of life and
reduce healthcare costs, and looks forward to the commencement of
its CANPAIN trial, which will provide the opportunity to further
demonstrate the value of its cannabis-based medicines in chronic
pain management.
James Short, CEO of Celadon Pharmaceuticals Plc,
commented:
"We are incredibly proud to announce these highly encouraging
results, which show just how beneficial cannabis-based medicines
could be to millions of patients across the UK, whose needs are
currently going unmet. This positive data gives us even greater
confidence in our forthcoming clinical trial, which will involve up
to 5,000 patients and see General Practitioners permitted to
prescribe cannabis-based medicines. Once completed, the NHS will
have a proven and cost-effective alternative for managing chronic
pain, which we are confident will break down the barriers to
prescriptions in the UK.
"Our research has also identified additional conditions that
could benefit from cannabis-based medicines, significantly
expanding the potential patient pool well beyond our initial
estimates of 8 million people in the UK alone. This broader scope
underscores the transformative potential of our work, and is a
momentous opportunity for Celadon, the NHS, and most importantly,
for patients. As far as we are aware, this is the only known trial
responding directly to the government's call for more comprehensive
data on cannabis-based medicines. I would encourage my colleagues
across the industry to follow our lead and gather the clinical data
required to support NHS prescriptions of cannabis-based
medicines."
Enquiries:
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Celadon Pharmaceuticals Plc
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James Short
Jonathan Turner
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Via Powerscourt
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Canaccord Genuity Limited (Nominated Adviser and
Broker)
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Bobbie Hilliam / Andrew
Potts
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+44 (0)20 7523 8000
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Global Investment Strategy UK Limited (Joint
Broker)
Callum Hill
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+44 (0)20 7048 9400
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Powerscourt Group
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Sarah MacLeod / Sam Austrums / Nick
Johnson
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+44 (0)20 7250 1446
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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