This accomplishment highlights the company's creative approach and steady march towards completing 15 harvests within the calendar year.
With its eighth harvest now successfully completed, Celadon Pharmaceuticals is not just meeting expectations but setting new standards in the cultivation and production of cannabis-based medicines. This achievement marks a pivotal step forward in the company’s mission to transform healthcare delivery and ensure patients have access to the treatments they need.
Celadon’s state-of-the-art indoor facility, which utilizes cutting-edge modular hydroponic technology, features three sets of flowering rooms per phase. This strategic design allows the Group to precisely control the plants' growing environment, ensuring optimal conditions and maximum yield. With five harvests anticipated from each set of rooms annually, Celadon is confidently on track to meet its ambitious target of 15 harvests this year.
The Group's management has fine-tuned the cultivation environment to suit the specific needs of different cannabis strains, resulting in steadily increasing yields. These enhancements are a testament to Celadon’s commitment to continuous improvement and innovation. The company is also implementing additional yield-boosting developments, which are expected to further elevate production levels.
Cannabis being supplied to two UK pharmaceutical companies
The harvested product is currently being supplied to two UK pharmaceutical companies under contracts announced in May and September of 2023. These agreements are projected to generate up to £1.4 million in annual revenue. To ensure the highest quality, some of the initial harvests are undergoing stability testing, which will confirm the product’s consistency and efficacy over time.
Celadon’s regular harvesting cycle, typically occurring every three weeks, is set to provide a stable and reliable supply of high-grade pharmaceutical cannabis. This consistent production is crucial in addressing the UK's current supply issues, particularly those exacerbated by import delays.
James Short, CEO of Celadon Pharmaceuticals, is delighted with the company's progress. He said: "Just over halfway into 2024, we are pleased to announce the successful completion of our eighth harvest this year. Based on our success so far, we remain on track to achieve our forecast of 15 harvests for the year. This milestone underscores the merit of our modular facility design, which enables regular harvests and allows us to manage our production costs effectively, even in the unlikely event of lower-than-anticipated demand. This achievement not only highlights our capabilities as a trusted provider of pharmaceutical-grade cannabis but also positions us as a key UK player in resolving the well-documented supply challenges faced by the UK market."
Celadon’s innovative approach and robust operational strategy are paving the way for significant advancements in the availability and reliability of cannabis-based medicines in the UK. As the company continues to hit its targets, it solidifies its reputation as a leader in the pharmaceutical cannabis sector, poised to make a substantial impact on patient care and the broader healthcare industry.
