REG - Celadon Pharma. PLC - Finance Update

Celadon PharmaceuticalsAnnouncement

31/01/2025 07:00

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RNS Number : 3658V  Celadon Pharmaceuticals PLC  31 January 2025

Celadon Pharmaceuticals Plc

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

Finance Update

London, 31 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 announced on 2 January 2025 that it had received £897k from its
£1m draw down request, under its Committed Credit Facility. The Company is
therefore due a further £103k. Following correspondence with the Committed
Credit Facility provider (the "Lender") the Company now expects this payment
during February 2025.

The Company has sufficient working capital up to March 2025, regardless of the
outstanding payment, assuming expected cash receipts from customers and the
support of creditors.

As previously announced, the Company continues to explore alternative lending
facilities to the Committed Credit Facility. The Company can confirm it is no
longer in discussions with the finance provider referred to in its
announcement on 18 November 2024. The Company is however progressing
discussions with other providers and will make further updates as and when
appropriate.

The Company also announces that its registered office address has been updated
to 71-75 Shelton Street, London, WC2H 9JQ, following the sale of the previous
registered office premises by the landlord. This change ensures continuity in
compliance with statutory requirements.

 

Enquiries:

 Celadon Pharmaceuticals Plc
 James Short                                               Via Canaccord Genuity Limited

 Canaccord Genuity Limited (Nominated Adviser and Broker)
 Bobbie Hilliam / Andrew Potts                             +44 (0)20 7523 8000

 Global Investment Strategy UK Limited (Joint Broker)      +44 (0)20 7048 9400
 James Sheehan

 

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
(http://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.

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