Shares in Celadon Pharmaceuticals PLC (AIM:CEL) were buoyant after it announced a new five-year sales contract with a healthcare company.
Valued at up to £10.5 million, the deal with the unnamed customer will see cultivation for the first year’s supply will begin within 12 months.
It adds to Celadon’s growing order book, bringing its potential value to £40.7 million, which includes a £26 million European contract and two UK contracts worth £4.2 million.
Its partnership with Danish firm Valeo Pharma, announced in September, will help streamline European deliveries and expand its UK capacity.
The company remains in discussions with other potential customers, expecting to secure further contracts.
In early trade, the stock was up 2% at 25.5p.