Celadon Pharmaceuticals PLC (AIM:CEL) CEO and co-founder James Short talked with Proactive's Stephen Gunnion about the company’s strategic plans, including a potential delisting from AIM and the development of its proprietary cannabinoid API (active pharmaceutical ingredient). Short explained that Celadon Pharmaceuticals is focused on research, development, and delivery of cannabinoid-based medicines, distinguishing itself as a pharmaceutical business rather than a recreational cannabis company.
He noted, “The delisting is something that we've been looking at for several months now. We feel that the market that the business is on is not the right market for Celadon currently.”
Short clarified that the company secured a £1.5 million debt facility and is considering a £20 million convertible loan to support its operations and upcoming product launches. He also discussed delays in the Valeos contract due to regulatory hurdles but expressed optimism about starting to generate revenue in the first half of next year.
The proprietary cannabinoid API is expected to be produced through a joint venture with a UK contract manufacturer, enabling Celadon Pharmaceuticals to scale without significant capital expenditure.
Short emphasised that the top priority over the next 12 months is rebuilding valuation and strengthening the company’s position as a pharmaceutical cannabinoid business.
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