14 June 2021
Apollon Formularies Secures Cancer Treatment Facility in
Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company"), a fully licensed medical cannabis company with its operations in
The new facility will allow Apollon to expand its patient treatment programme for both Jamaican and international medical patients, and at the same time generating additional revenue for the Company. Alongside benefiting Apollon's patients, the expansion with this facility brings the opportunity to gather invaluable patient data on the Company's medical cannabis formulations. Additionally, this new central location provides Apollon with a facility in the country's key medical hub.
Securing this facility follows Apollon's recent announcement, on 18 May 2021, which stated that its medical cannabis formulations in specific combinations were effective in killing nearly 100% of living HER2+ cancer cells in 3D cell culture by direct cytotoxicity. The testing was performed by BIOENSIS, an independent, pre-clinical predictive pharmaceutical testing laboratory. The medical cannabis formulations were developed by Apollon's CLA licensed affiliate, Apollon Jamaica.
Stephen D. Barnhill, M.D., CEO of Apollon, commented, "We are very excited to be opening the Apollon International Cancer institute in
"It is our unique suite of licenses, along with the fact that licensed medical doctors in
Mr. Paul Burke, Chairman and CEO of Apollon Jamaica, commented, "We are very proud to be opening this facility and provide Apollon Formularies' medical cannabis treatments to Jamaicans, as well as patients traveling from international locations. To oversee the facility, we are assembling a team of highly qualified licensed Jamaican physicians, who are experienced in treating cancer patients and are fully knowledgeable in quality, complementary and alternative medical care."
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About Apollon and Apollon Jamaica
Apollon Formularies plc is an international medical cannabis company headquartered in the United Kingdom. Apollon Formularies Jamaica Limited is a pharmaceutical company incorporated and operating in the Commonwealth of Jamaica. Apollon Jamaica is licensed by the Jamaican government's Cannabis Licensing Authority (CLA) to cultivate, perform research and development, process, and sell medical cannabis therapeutic products that include legal medical cannabis in order to treat various illnesses under medical supervision. Apollon and Apollon Jamaica are parties to a Commitment Agreement whereby Apollon is entitled to 95% of Apollon Jamaica's Net Profits, and per a Stock Pledge Agreement that includes Stephen D. Barnhill, M.D., Apollon is to be assigned the entire 49% equity interest of Apollon Jamaica held by Dr. Barnhill, which is the maximum interest in a medical cannabis company allowed to be held by a non-Jamaican, upon the CLA approving the assignment.