REG - Celadon Pharma. PLC - Funding Update

Celadon PharmaceuticalsAnnouncement

30/05/2025 18:15

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RNS Number : 8857K  Celadon Pharmaceuticals PLC  30 May 2025

Celadon Pharmaceuticals Plc

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

Funding Update

London, 30 May 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. The Company announced on 30 April 2025 that it had sufficient
funding to trade into May 2025 as it sought to secure additional funding for
the business.

The Company has been unable to obtain funding under its existing credit
facility and the directors no longer expect to receive funds under this
facility in the near future. The Company has however, over recent weeks, been
engaged with a new finance provider who has concluded due diligence and who
has indicated he is in the process of making funds available.

As of today the Company has limited working capital and its ability to
continue to trade is fully dependent upon receiving funds from the new finance
provider, continued creditor and stakeholder support. In the event the Company
cannot secure funds over the coming days, the directors will have to protect
the interests of all stakeholders and the Company will be placed into
administration.

In the event funding for the Group is secured, the Company remains committed
to proceeding with a cancellation of trading of the Company's ordinary shares
on AIM.

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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