Apollon Formularies - Apollon Secures Cancer Treatment Facility
RNS Number : 7641B
Apollon Formularies plc
14 June 2021
 

14 June 2021

Apollon Formularies Secures Cancer Treatment Facility in Jamaica

Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company"), a fully licensed medical cannabis company with its operations in Jamaica, is pleased to announce that Apollon Formularies Jamaica ("Apollon Jamaica") has signed a long-term lease for its first International Cancer Institute in the Jamaican capital, Kingston. The new facility will specialise in Complementary and Alternative Medical treatments ("CAM"), for cancer patients. These treatments will include Apollon's medical cannabis products.

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 Jamaica which will enable us to begin treating cancer patients using Apollon's CAM treatments. This is a milestone for the Company as it is Apollon's first wholly owned facility, treating patients using the Apollon Formularies medical cannabis formulations. Additionally, it gives us a unique opportunity to gather invaluable data to fully determine the efficacy of Apollon's formulations directly on patients.

"It is our unique suite of licenses, along with the fact that licensed medical doctors in Jamaica are permitted to write prescriptions for Apollon medical cannabis products using formulations inclusive of THC, that makes the Company unique amongst its listed peers in Europe."

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."

- End -

For additional information, please visit www.apollon.org.uk or contact:

Apollon Formularies                                                     

Tel:                                         +44 207 907 9314

Stene Jacobs                      stene@apollon.org.uk 

 

Peterhouse Capital Limited (Corporate Adviser)             

Tel:                                         +44 207 220 9795

Guy Miller                           gm@peterhousecapital.com

 

Blytheweigh (Financial PR/IR-London)                 

Tel:                                         +44 207 138 3204

Tim Blythe                           tim.blythe@blytheweigh.com

Megan Ray                         megan.ray@blytheweigh.com 

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NEXUSVVRAUUNARR ]]>