Celadon Pharmaceuticals PLC Funding Update

RNS Number : 8862R

Celadon Pharmaceuticals PLC

02 January 2025

 

Celadon Pharmaceuticals Plc

("Celadon", the "Group" or the "Company")

Funding Update

London, 2 January 2025 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, wishes to provide an update on its financial position.

The Company can confirm the provider of the Committed Credit Facility (the "Lender") has now transferred an additional £147k under the Company £1m draw down request. The Company expects to receive the remaining £103k that is outstanding under the draw down during January 2025.

As advised on 20 December 2024, receipt of these funds, along with expected cash receipts from customers and continuing to work with creditors gives the Company sufficient working capital up to March 2025.

 

Enquiries:

Celadon Pharmaceuticals Plc
James Short	Via Canaccord Genuity Limited
Canaccord Genuity Limited (Nominated Adviser and Broker)
Bobbie Hilliam / Andrew Potts	[phone]
Global Investment Strategy UK Limited (Joint Broker) James Sheehan	[phone]

 

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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