Celadon Pharmaceuticals
Plc
("Celadon", the "Group" or the
"Company")
Receipt of Subscription
Proceeds
London, 6 December 2024 -
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.
Further to recent updates the
Company is pleased to announce that it has received the balance of
£150,000 due from the subscriber in respect of the Third Admission
of ordinary shares at a Subscription price of £1.05 as announced in
May 2024.
James Short, Chief Executive
Officer of Celadon, commented:
"We are grateful to the subscriber,
and to our other shareholders, for their ongoing
support.
As we approach year end, I would
like to thank the Group's employees for their continued hard work
to improve the quality of patient's lives through improving the
yields on our harvests, furthering the Group's intellectual
property development and remaining a key player in the UK's
developing pharmaceutical cannabis market."
Enquiries:
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Celadon Pharmaceuticals Plc
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James Short
Jonathan Turner
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Via Sodali & Co
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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)
James Sheehan
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+44 (0)20 7048 9400
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Sodali & Co
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Elly Williamson / Sam Austens / 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
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.
