LONDON, Feb. 3, 2022 /PRNewswire/ — Apollon Formularies plc (AQSE: APOL, “Apollon” or the “Company”), a UK based international medical cannabis pharmaceutical company trading on the Aquis Stock Exchange Growth Market, is pleased to announce that it has officially opened its International Cancer and Chronic Pain Institute (“ICCPI”) in the Jamaican capital and country’s key medical hub, Kingston. The facility will specialise in Complementary and Alternative Medical treatments (“CAM”) for cancer patients. These treatments will include Apollon’s medical cannabis products.
This facility allows Apollon to expand its patient treatment programme for both Jamaican and international medical patients, and at the same time generate additional revenue for the Company.
Apollon is pleased to add that the Company is experiencing demand from international patients who wish to be treated in Jamaica and will be admitting its second UK patient in mid-February 2022.
The ICCPI also provides the opportunity to gather invaluable patient data on the Company’s medical cannabis formulations.
In December 2021, Apollon welcomed its first cancer patients to its existing facilities in Jamaica and is now able to provide expanded access via two facilities located in Negril and Kingston. In addition to treating international and local Jamaican patients, the ICCPI physicians will shortly initiate clinical trials on Apollon’s proprietary medical cannabis products through Apollon’s research and development license with oversight from the Ministry of Health and Wellness in Jamaica.
Paul Burke, CEO Apollon Formularies Jamaica, commented: “Our International Cancer Institute is one of a kind and I am proud to see our hard work pay off. Following our remarkable 3D cell culture test results and the expansion of our production facility, this next step will help Apollon compete on a world class level whilst providing our patients with the treatment and expert care needed.”
Hon. Dr. Norman Dunn MP, State Minister in the Ministry of Industry, Investment and Commerce, commented: “It is my great pleasure to be part of today’s landmark occasion for Apollon Formularies as you open Jamaica’s first International Cancer and Chronic Pain Institute which has been established to offer complimentary plant-based medicine and to carry on clinical trials on cancer treatment formulations. From all accounts, their formulations have undergone rigorous third-party testing from esteemed pharmaceutical testing labs. I want to congratulate in particular Dr Stephen Barnhill and Dr Dingel Spence, Paul Burke and the rest of the team here at Apollon Formularies for your vision, tenacity and entrepreneurial spirit.”
Dr Stephen Barnhill, CEO of Apollon Formularies, commented: “I am glad to see the progress we have made as a Company come to fruition in the official opening of this impressive Cancer Institute. The facility will provide us with the opportunity to admit patients and use our proprietary formulations to treat common cancers. I would like to take this opportunity to thank the team on the ground in Jamaica who has helped make this happen.”
The Directors of the Company accept responsibility for the contents of this announcement.
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.