REG - Celadon Pharma. PLC - Funding Update

Celadon PharmaceuticalsAnnouncement

Wed 07:00

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RNS Number : 6909G  Celadon Pharmaceuticals PLC  30 April 2025

Celadon Pharmaceuticals Plc

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

Funding Update

London, 30 April 2025 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based
pharmaceutical company focused on the development, production and sale of
breakthrough cannabis-based medicines, provides an update on its financial
position.

Further to the announcement made by the Company on 31 March 2025 the Company
has still yet to receive requested funds under its secured credit facility.
The Company continues to be engaged with the provider of the facility in
relation to securing funds, however there has not been material developments
from previous announcements.

The Company continues to seek and engage with alternative providers of
finance, however there can be no certainty in securing additional funding or,
if successful, the timing of such funding.

On 31 March 2025, Celadon announced it had limited working capital but
continued to benefit from the support of creditors. This support continues and
the Company believes it can now trade into May 2025. As set out previously in
the event that the Company cannot secure funds in a timely manner, the
directors will have to protect the interests of all stakeholders which may
lead to the company being placed into administration with limited notice.

A further announcement will be made as and when appropriate.

 

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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