10 January 2022
Apollon Formularies Enters Agreements with CLA-Licensed Medical Cannabis Cultivators to Increase Supply of Medical Cannabis Allowing Accelerated Increase in Product Inventory
· Apollon has signed more than a dozen Tripartite Agreements with CLA-Licensed Cultivators
· Apollon has established the Apollon Kannabiz Cooperative to work with local Jamaican farmers
Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company"), a
Director of Enforcement and Monitoring at the Cannabis Licensing Authority (CLA), Faith Graham, speaking at a recent Jamaica Information Service (JIS) Think Tank, stated that "by insisting on a standard for our licence holders and those interested in becoming a part of our local market, we are showing that we operate at an international level as we apply best practices for the global industry". Ms. Graham continued, "the CLA operates a closed loop system, characterized by a tripartite agreement that is fundamental to the industry maintaining its integrity. The tripartite agreement ensures that the ganja (cannabis) that is cultivated is sold to another licensee."¹
In addition, the Company has established the Apollon Kannabiz Cooperative in an effort to ensure that traditional growers are not left out of the regulated medical cannabis system. Apollon believes that the local farmers should not only "grow for us" but should also be given an opportunity to "grow with us".
Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green,
who was speaking at the official opening of Apollon Formularies Limited in Westmoreland,
"We are pleased that so many CLA-Licensed cultivators have signed Tripartite Agreements with the Company indicating their interest and willingness to grow and provide substantial quantities of high-quality, freshly harvested cannabis buds to be used by Apollon to process and manufacture large quantities of medical cannabis products which will significantly accelerate and increase our inventory for patients, clinical trials, and export," stated Stephen D. Barnhill, MD, CEO of Apollon Formularies, plc, "We also recognize and appreciate the experience and dedication of traditional Jamaican ganja farmers and look forward to expanding the Apollon Kannabiz Cooperative to provide jobs and income to help local farmers have a better way of life for themselves and their families."
Paul Burke, CEO of Apollon Formularies Jamaica Limited stated, "Apollon's goal is to reposition
On 19 July 2021, Apollon announced that its proprietary medical cannabis formulations were shown in third party independent clinical laboratory testing to be effective in killing both hormone-resistant and hormone-sensitive prostate cancer cells in 3D cell cultures by direct cytotoxicity.
June 28, 2021, Apollon announced that its proprietary medical cannabis formulations were shown in third party independent clinical laboratory testing to be effective in killing triple-negative breast cancer cells in 3D cell culture by direct cell cytotoxicity.
May 18, 2021, Apollon announced that its proprietary medical cannabis formulations were shown in third party independent clinical laboratory testing to be effective in killing HER2+ breast cancer cells in 3D cell culture by direct cytotoxicity.
The Directors of the Company accept responsibility for the contents of this announcement.
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About Apollon and Apollon Jamaica
Apollon Formularies plc is an international medical cannabis pharmaceutical company headquartered in the United Kingdom. Apollon Formularies Jamaica, Ltd is a pharmaceutical company incorporated and operating in the Commonwealth of Jamaica and a contractual affiliate of Apollon. Apollon Jamaica is licensed by the Jamaican government's Cannabis Licensing Authority (CLA) to purchase cannabis under tripartite agreements from licensed cultivators, process, perform research and development, and sell medical cannabis therapeutic products that include legal medical cannabis in order to treat various illnesses under medical supervision.