Celadon Pharmaceuticals Plc Admission to London AIM Market

Summerway Capital Plc (AIM: SWC) has today been readmitted to London’s AIM market following the successful acquisition of Celadon Pharmaceuticals, a Major UK-based pharmaceutical company targeting the research, cultivation, manufacturing and supply of cannabinoid-based medicines. The enlarged group is set to be renamed to Celadon Pharmaceuticals Plc tomorrow (AIM: CEL) 28th March 2022 and will become the first UK cannabinoid manufacturer to be listed on the AIM market.

Celadon is believed to be one of the first pharmaceutical companies in the UK to be licenced under the MHRA and Home Office regulations for the cultivation, supply and manufacture of cannabis drugs.

Celadon Pharmaceuticals Plc already has an emerging portfolio of partner companies across the UK cannabis space including LVL Health, a medical cannabis clinic for chronic pain with MHRA and REC approval for a clinical trial using medical cannabis and, Kingdom Therapeutics, an early-stage biopharmaceutical company developing a cannabinoid-based licensed medicine for autism spectrum disorder.

Celadon Pharmaceuticals Plc at its full capacity in its current Midlands based growing facility could supply up to circa 50,000 patients, which has the potential to generate revenue of £90 million per annum with EBITDA margins of approximately 50 per cent.