LONDON, Jan. 25, 2022 /PRNewswire/ — Apollon Formularies plc (AQSE: APOL) , (“Apollon” or the “Firm”), a UK primarily based worldwide pharmaceutical firm specializing in medical hashish and buying and selling on AQSE Progress Market, is happy to launch its inaugural CEO’s 12 months in Overview for 2021 letter to the shareholders from Dr. Stephen D. Barnhill, Chairman and Chief Govt Officer of Apollon Formularies.
Expensive Fellow Shareholders,
It’s with nice pleasure and pleasure that I’m writing to you immediately in my first shareholder letter since being appointed Chairman and Chief Govt Officer of Apollon Formularies plc. Final yr, 2021 was a yr of exceptional accomplishments for our firm. At the moment, we’re a distinctly completely different group than we had been once we began. I’m more than happy with the progress that has been made throughout all components of the Apollon enterprise throughout the yr and I’m assured the subsequent 12 months will see important progress as consideration now turns to elevated income technology and a worldwide roll out of our medical hashish merchandise.
Certainly, that is an thrilling time for a corporation to be within the medical hashish enterprise with widespread world curiosity in cannabinoid medicines. You might have seen among the latest headlines within the information concerning Massive Pharma’s new enthusiasm for the medical hashish business, together with: “Pfizer Bets on Medical Hashish With $6.7 Billion Acquisition” describing their acquisition of Enviornment Prescribed drugs revealed by Forbes and “Jazz Prescribed drugs to purchase GW Prescribed drugs for US$7.2B in money, inventory” as introduced by BNN Bloomberg .
The elevated curiosity by Massive Pharma simple to grasp. In keeping with the International Alternative Evaluation and Business Forecast, 2021–2030 report, “the worldwide medical hashish business generated $6.82 billion in 2020, and is anticipated to succeed in $53.88 billion by 2030, witnessing a CAGR of 23.6% from 2021 to 2030”.
Under, I’ll spotlight a few of Apollon’s accomplishments over the previous yr and likewise introduce you to some welcome additions to our extremely professional group.
In April 2021, Apollon Formularies plc was admitted for buying and selling on London’s AQSE Progress Market below the image APOL and efficiently accomplished a £2.5 million funding spherical. This public itemizing was notable as Apollon was among the many first medical hashish firms legally licenced to work with full-spectrum excessive THC medical hashish merchandise allowed to be publicly listed in London.
Profitable Pre-Medical Most cancers Testing of Apollon Most cancers Formulations:
I’m completely happy to report that Apollon has accomplished improvement of 12 proprietary medical hashish formulations together with merchandise to be used in most cancers sufferers. These extremely specialised formulations had been developed, partially, utilizing synthetic intelligence strategies below the supervision of Apollon’s Chief Science Officer, Dr. Herb Fritsche.
Dr. Fritsche is a world-renowned Medical Chemist and former Professor of Laboratory Medication and Chief of the Medical Chemistry Part at The College of Texas, MD Anderson Most cancers Heart in Houston, Texas for 41 years. He served as an invited marketing consultant/advisor to the Meals and Drug Administration (FDA), the Nationwide Most cancers Institute (NCI), the Professional Panel for growing Tumor Marker Follow Tips for the American Society of Medical Oncology (ASCO), on the Laboratory Follow Tips Committee for the Nationwide Academy of Medical Biochemistry (NACB), on the Editorial Board of six worldwide scientific journals, and as a marketing consultant to many main worldwide diagnostic firms.
Dr. Fritsche and I’ve labored collectively for greater than 30 years in synthetic intelligence derived most cancers biomarker discovery for customized medication triage in diagnostics and therapy and have revealed many peer-reviewed publications collectively.
We despatched 9 Apollon proprietary medical hashish most cancers formulations for impartial 3rd Get together pre-clinical testing and validation to BIOENSIS laboratories in the USA. The outcomes of the testing processed to this point yielded extraordinary findings.
Laboratory outcomes confirmed quite a lot of Apollon’s medical hashish most cancers formulations, had been profitable in killing practically 100% of most cancers cells from 10 completely different most cancers cell traces in 3D cell tradition together with triple destructive breast most cancers (TNBC), HER2+ breast most cancers, ER+/PR+ breast most cancers, hormone-sensitive prostate most cancers and hormone-resistant prostate most cancers. The Firm is but to course of the remaining outcomes and can replace the market of those in the end. 3D cell tradition fashions enable researchers to recreate particular pathophysiological circumstances and tumorigenic processes to determine potential biomarkers for therapeutic focusing on or assessing cell response to therapies and drug efficacy. The advance in 3D tradition expertise has led to the technology of in vitro fashions that may embody extra physiological and tissue-specific microenvironments with the goal to beat the drawbacks noticed in different pre-clinical fashions and have higher predictive worth for scientific outcomes. We had been extraordinarily happy with these pre-clinical outcomes.
Apollon’s Worldwide Most cancers and Power Ache institute:
After efficiently finishing the pre-clinical testing on the Apollon medical hashish most cancers formulations, the choice was made to open the primary Worldwide Most cancers and Power Ache Institute (“ICCPI”) in Kingston, Jamaica and in June 2021, the Firm introduced the signing of a long-term lease for this facility. The ICCPI was formally opened in December 2021 for the aim of treating non-public sufferers by doctor prescription and performing human scientific trials to validate the outcomes seen in our profitable pre-clinical testing.
The ICCPI has a full medical group of licensed physicians at present treating sufferers on the facility. As beforehand introduced, the Medical Director of the Institute is Dr. Dingle Spence, a board-certified doctor specialising in Medical Oncology, Radiation Remedy, and Palliative Care Medication. Additionally seeing sufferers on the facility is Dr. Anthony Corridor, a board-certified neurosurgeon licensed to apply within the US and Jamaica, Dr. Al Dawes, a board-certified basic surgeon, Dr. Marjorie Vassell, a household practitioner, and Dr. Jodi-Anne Mckenley-King, a basic practitioner. Along with their medical specialties, these physicians on the ICCPI are actually skilled and skilled in utilizing Apollon medical hashish merchandise in sufferers.
In anticipation of beginning the human scientific trials on the ICCPI, Apollon introduced the appointment of Dr. the Honorable Archibald McDonald, Professor Emeritus, and Former College Dean, College of Medical Sciences and Professional-Vice Chancellor, College of the West Indies, as Director of Medical Trials. Professor McDonald is a recipient of the celebrated Order of Jamaica (OJ) for Excellence in Academia and Public Service, Jamaica’s highest civilian honour, recipient of the Order of Distinction within the rank of Commander (CD) and Present Chairman, Ministry of Well being and Wellness Ethics Panel. Dr. McDonald was lately quoted as stating “If we (Apollon) obtain the identical degree of success in human scientific trials that was lately demonstrated within the impartial, 3rd occasion pre-clinical research, these merchandise might drastically assist most cancers sufferers in Jamaica and internationally.”
We’re happy to announce that the ICCPI has welcomed the primary most cancers sufferers, together with our first worldwide most cancers affected person from the UK in December 2021 to be handled with Apollon’s proprietary medical hashish merchandise. Solely 9 months after our IPO and we proceed to be astonished and humbled by the extent of curiosity from most cancers victims globally enquiring about therapy on the ICCPI. This centre permits Apollon to broaden the affected person therapy programme, generate further income for the Firm, and supply the chance to assemble invaluable affected person knowledge on Apollon’s formulations. It’s anticipated that the grand opening of the ICCPI will happen within the coming weeks. It’s our purpose to deliver our medication to the widest viewers doable which can change into a core focus as we transfer into 2022.
Processing Facility and Manufacturing Improve
Apollon has lately introduced the growth of our CLA-licensed state-of-the-art manufacturing facility in Negril, Jamaica. As a key a part of the improve, the Firm bought a brand new high-volume pharmaceutical distiller from the US which has considerably elevated Apollon’s medical high quality hashish oil manufacturing functionality to over 50 instances its former manufacturing degree to a capability now of practically 20 litres of distilled medical hashish oil per day.
This elevated manufacturing capability permits the Firm to considerably enhance its stock for sufferers being handled on the ICCPI and the numerous variety of sufferers anticipated to enrol in our upcoming human scientific trials.
The growth additionally opens the trail to additional income technology alternatives to the broader home market and growth to worldwide export markets which is included in Apollon’s CLA-licensed approvals.
Additionally it is necessary for the Firm to have a big quantity of correctly saved stock for a lot bigger worldwide scientific trials which Apollon anticipates will probably be in partnership with giant worldwide pharmaceutical firms getting into the medical hashish market within the close to future.
Retail Therapeutic Dispensary
We’re completely happy to report that our retail therapeutic dispensary is now working at close to pre-COVID ranges after a big slowdown as a result of momentary halts and restrictions on journey to Jamaica by the Jamaican authorities of their efforts to cease the unfold of COVID-19. Upon reopening the borders, the Jamaican authorities required medical affected person services to change into COVID compliant. I am very pleased with our Jamaican group for reaching COVID Compliance and consequently our twin services in Negril and Kingston are actually opened to deal with each worldwide and Jamaican sufferers as evidenced by taking our first UK most cancers affected person in late 2021.
Hashish License Authority (CLA) License Renewals
We’re happy to announce that our CLA-licenses for Processing and Retail (Therapeutic) had been lately renewed for a further three years till January 2025. Our Analysis and Improvement license is present and doesn’t have to be renewed till September 2022. Apollon is without doubt one of the only a few firms in Jamaica with all three of those vertically built-in CLA authorised licenses.
The Apollon Benefit
One of many aggressive benefits Apollon has that units us other than different medical pharmaceutical hashish firms is our full spectrum THC hashish oil licencing regime. We’re one in all only a few medical hashish firms globally that could be a publicly traded firm, legally licenced to work with full spectrum excessive THC hashish, undertake drug discovery, execute pre-clinical testing, carry out human scientific trials, present quick direct human availability of those therapies by doctor prescription, have an Worldwide Most cancers and Power Ache Institute, and are authorised to export our medical hashish merchandise globally.
It’s my honest perception that world clients, together with potential companions like Massive Pharma, looking for medical hashish merchandise and partnerships will look to firms like Apollon, that can have patent protected merchandise, validated by pre-clinical and human scientific trial knowledge reasonably than firms with random medical hashish oils with out this degree of scientific rigor and mental property safety.
The power to undertake drug discovery along with human utility and therapy is the funding framework I imagine Apollon provides. This framework permits us to gather scientific knowledge shortly and precisely on our formulations from real-life therapies at our services through each in-patient and outpatient care. We count on the variety of sufferers receiving therapy at our services in 2022 to develop considerably. We additionally anticipate a considerable marketplace for world export of our medical hashish merchandise.
In preparation for world growth, Apollon made two key govt hires in 2021. The Board appointed Stephen Barnhill, Jr., and Stene Jacobs as joint Chief Working Officers. Stephen will focus his attentions on Jamaica, the Caribbean, and North America, while Stene will give attention to Apollon’s operations throughout Europe and Africa.
Stephen was a Co-Founder and President of Apollon Formularies Inc. within the US, established in 2014. He was instrumental within the worldwide growth of Apollon Formularies to Jamaica in 2015, beginning Apollon Formularies Jamaica Ltd and was appointed Chief Working Officer. As soon as established in Jamaica, Stephen was instrumental in Apollon acquiring a collection of vertical medical hashish licenses from the Hashish License Authority (CLA). These licenses had been key to permitting Apollon Formularies Jamaica Ltd. to change into a federally authorized medical hashish operation. Stephen was then concerned within the growth of Apollon to Europe and assisted within the transformation to a publicly traded firm on the AQSE Progress Market in April 2021.
Stene joined Apollon in December 2020 as Head of Company Improvement the place he has helped foster and develop strategic relationships inside the medical hashish area in Europe and Africa. He has been a core member of the Apollon group within the lead as much as, and post-listing on the AQSE Progress Market.
We’ve got additionally strengthened the Board of Administrators by including Rod McIllree as a Non-Govt Director. Rod has greater than 20 years’ expertise working, advising, and funding public firms targeted on progress within the expertise, mining, worldwide logistics and finance sectors. Rod has been a long-time advisor to, and investor in, Apollon and holds a big curiosity within the shares of the Firm. The Firm expects to nominate additional high-profile administrators to the Board within the coming months to advance its progress ambitions.
The Future Appears to be like Vivid
Our management can not help however be pleased with what our group achieved over the previous 12 months. Apollon is actually a singular firm within the medical hashish house. We’re a publicly traded pharmaceutical firm legally allowed to function in all the spectrum of cannabinoid medication from CBD and different non-psychogenic cannabinoids to full-spectrum excessive THC medical hashish merchandise required for sure circumstances like most cancers.
As a cannabinoid medication firm, Apollon is now totally established and at present treating non-public Jamaican and worldwide sufferers by doctor prescription with our excellent medical group of licensed physicians who even have further particular experience in cannabinoid medication, in addition to commencing our efforts to carry out human scientific trials at our lately opened Worldwide Most cancers and Power Ache Institute.
We now have a completely operational high-volume processing laboratory with the capability to supply as much as 20 litres of high-quality medical hashish distillate that can be utilized for our industrial merchandise, our non-public sufferers, our scientific trial sufferers, world export, and elevated stock for potential Massive Pharma companions.
The Firm has accomplished its pre-clinical testing on our distinctive proprietary medical hashish formulations for most cancers and is about to embark on validating these very profitable leads to human scientific trials. As soon as accomplished, I imagine Apollon, could have a big database of pre-clinical, scientific, and genomic knowledge in most cancers sufferers handled with medical hashish merchandise and will change into a worldwide chief for cannabinoid medication in oncology.
As an working enterprise, Apollon has a number of income streams together with each in-patient and out-patient therapies and consultations, dispensary gross sales of Apollon merchandise in Jamaica, and most lately via the ability growth, the chance for export of our merchandise globally the place authorized import is allowed.
Lastly, I want to take this chance within the first of what I hope will change into an annual “CEO 12 months in Overview” to thank our sufferers, shareholders, staff and advisors for his or her help and encouragement all through 2021.
The way forward for Apollon is brilliant, and I thanks for becoming a member of this journey with us. We want you and your households a cheerful and wholesome new yr!
Stephen D. Barnhill, MD
Chairman and CEO
For added data, please go to www.apollon.org.uk or contact:
+44 755 499 7357