Celadon Prescribed drugs
UK-listed medical hashish producer Celadon Prescribed drugs is struggling to emerge from its precarious monetary place after months of turmoil.
Within the newest of a string of investor updates on its fiscal place, Celadon mentioned that it ‘has not acquired the funds requested’ as a part of a brand new credit score facility introduced on February 26, 2025.
In mid-January, Enterprise of Hashish reported that, as of November 15, 2024, Celadon had simply £0.3m of money reserves, that means it solely had a assured runway till January 2025, as funding from two separate sources confronted continued delays.
Then, on January 31, 2025, Celadon issued an replace stating that whereas it was nonetheless ready on the promised funds, it had sufficient money to proceed operations till no less than March 2025, so long as it acquired anticipated funds from prospects and maintained help from its collectors.
Two weeks later, on February 12, the ultimate £103,000 from its £1m mortgage request beneath its current credit score facility was acquired, that means the total quantity requested was now in hand, extending its monetary runway to April 2025.
In the meantime, the corporate introduced that it had secured a £389,000 tax credit score as a part of an R&D (Analysis & Growth) tax declare for the monetary 12 months ending December 2022, although this had already been accounted for in its monetary data as a deferred tax asset.
It was given an extra reprieve on February 26, when it introduced the settlement of latest mortgage of £1.95m from a Swiss lender, which is able to final for 3 years.
This mortgage is secured towards all of Celadon’s property, that means that if Celadon fails to repay, the lender might declare possession of the corporate’s property as compensation.
Celadon nearly instantly requested to attract cash from the brand new mortgage, and the lender had as much as 15 enterprise days to offer the funds, so long as Celadon met customary mortgage circumstances.
Nonetheless, in one other blow to the corporate, Celadon introduced that the requested funds had not been acquired inside the 15-business day interval.
In line with the corporate, this additional delay was all the way down to the ‘establishments answerable for transferring the funds’ requesting additional due diligence checks on the corporate, given the character of its enterprise.
“The corporate is engaged with the supplier of the ability and understands that the lender is working with the related establishments to fulfill their necessities and expects this course of to take not than two weeks.”
As such, the board has reportedly requested an extra £2m from its current dedicated credit score facility, to make sure it will probably ‘maximise its working capital place’.
“Shareholders will probably be conscious that traditionally there have been materials delays in receiving funds beneath the present facility, there can subsequently be no certainty at this stage on the timing by which the Firm will obtain funds,” it cautioned.
Whereas the corporate says the brand new funds will present it with ample working capital to see it by Q3 2025, with out receipt of the funding Celadon solely has sufficient ample money at hand to increase to April 2025.
DanCann Pharma
Danish cannabinoid producer DanCann Pharma has signed a brand new partnership with native bio-tech firm, Tetra Pharm Applied sciences.
Beneath the brand new three-year settlement, DanCann will achieve unique rights to promote and distribute merchandise based mostly on Tetra Pharms’ proprietary drug supply know-how, Zyndikate, in Denmark.
In line with the corporate, which says the deal ‘represents a major enhancement of their choices’, the settlement could possibly be prolonged for each corporations and each purpose to broaden this collaboration to different Nordic international locations.
The Zyndikate system is particularly designed for lipophilic molecules like cannabinoids, guaranteeing optimum absorption and launch into the blood stream.
“Partnering with Tetra Pharm Applied sciences to include their Zyndikate drug supply know-how into our portfolio aligns completely with our mission to offer progressive and efficient cannabinoid therapies,” mentioned Jeppe Krog Rasmussen, CEO of DanCann Pharma.
“This collaboration not solely broadens our product vary but in addition enhances the standard and consistency of remedies obtainable to sufferers. We’re excited concerning the potential of this partnership to set new requirements in cannabinoid-based medication.”
The pair purpose to launch the primary cannabinoid medicines based mostly on this know-how within the first half of subsequent 12 months.
Argent BioPharma
Argent BioPharma has introduced constructive outcomes from its Section IIb scientific trial for CimetrA, as a possible therapy for COVID-19 and inflammatory circumstances.
The trial, which was double-blind, randomised, and placebo-controlled, confirmed that CimetrA is secure, with no drug-related uncomfortable side effects reported. Sufferers receiving the therapy recovered sooner and confirmed higher symptom enchancment in comparison with these on a placebo.
The examine additionally highlighted CimetrA’s capacity to scale back irritation by concentrating on IL-6, a key inflammatory marker. In line with CEO Roby Zomer, the outcomes help CimetrA’s potential past COVID-19, suggesting it could possibly be used for autoimmune and inflammatory illnesses.
Dr. Nadya Lisovoder, CEO of Galilee Scientific Bio Analysis, emphasised that CimetrA’s mechanism of motion, which modulates cytokines IL-6 and IL-32, affords a singular strategy to management immune overactivation. Collaboration with Rambam Well being Care Campus and Galilee Scientific Bio Analysis ensured excessive scientific requirements all through the examine.
The trial examined CimetrA formulations with Curcuma longa and Boswellia serrata extracts over 48 hours. Sufferers confirmed enhancements on the WHO Ordinal Scale for COVID-19 and skilled diminished irritation ranges.
