Apollon Formularies Plc - Apollon grants an Exclusive Licence Agreement to PureCann, South Africa
Announcement provided byApollon Formularies plc · APOL
24 July 2023
Apollon Formularies Plc
Apollon grants an Exclusive Licence Agreement to PureCann,
Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company"), a UK based international pharmaceutical company trading on the Aquis Stock Exchange, is pleased to announce that it has signed an Exclusive License Agreement with PureCann Pty Ltd. ("PureCann"), a South African based medical cannabis company, which will produce, and actively distribute the entire Apollon product range throughout their dispensary network currently being rolled out in
- Apollon will receive a once off licensing fee of £100’000 as well as an ongoing royalty of 6% of gross profit on sales by PureCann for the entire term of the licence.
- Apollon grants PureCann an Exclusive Licence which gives PureCann the rights to Apollon’s Patent applications, Proprietary Formulations, Patient Protocols and access to the technology relating to formulations which showed successful cancer cell killing in the BIOENSIS pre-clinical studies.
- Apollon will benefit from brand exposure and sales royalties in PureCann’s licensed medical cannabis dispensaries as well as PureCann’s treatment facilities planning on being rolled out in Q4 of 2023.
- Further Sub-Licence revenue will be applicable at a commercially favourable split between Apollon and PureCann where PureCann are able to enter into sub license agreements with the other nine African countries where medicinal cannabis is legally available to patients in those jurisdictions under a Sales and Distribution agreement along with further jurisdictions which may legalise in the term of this licence agreement.
- Apollon will also benefit from crucial clinical data and royalties generated from PureCann’s Treatment centre in
Cape Town, South Africain the near future.
Since September 2022 Apollon has been in confidential discussions with the Directors of PureCann with the view to entering into a mutually beneficial commercial relationship via an Exclusive License Agreement. PureCann is in the process of rolling out 28 medical cannabis dispensaries nationally and has already gained good traction by adding over 200 eligible medical cannabis patients in their first month of trading.
Apollon will benefit greatly from PureCann’s current network where they have contractual agreements with multiple GACP/GMP cultivators where together we would have access to high-quality low-cost biomass reducing input costs dramatically across the production chain. PureCann also has access to two GMP extraction facilities meaning they can fully produce a complete range of certified cannabis based medicinal products’(CBMP's) for use locally within
PureCann will benefit from Apollon’s vast experience in extraction and processing techniques, pharmaceutical level drug development, clinical trial knowledge, patient treatment protocols by experienced physicians with medical cannabis treatment experience, the exclusive rights to Apollon’s proprietary formulations along with all relevant patents filed under PCT and recently entered national phase admissions and lodged at the South African patent office.
Both companies will benefit substantially from the agreement by providing ongoing international exposure in multiple international jurisdictions to markets requiring quality products with proven pre-clinical data. Having a South African base of operations would improve local access to affordable healthcare whilst at the same time serving to uplift economic development and job creation. It would also bolster the local pharmaceutical production capabilities in this burgeoning economic sector initially within
We are due to get an update from Global Hemp Group in the coming days on our pending transaction, but we need to carry on with our usual course of business. Apollon is very pleased to have been able to conclude this Exclusive License with PureCann. As soon as possible we will inform the market on the status of our deal with Global Hemp Group in a forthcoming press release to the market.
Dr Stephen D Barnhill, CEO and Chairman of Apollon Formularies, commented,
"My team and I are extremely pleased to have signed an Exclusive Licence Agreement with PureCann. They have already reached impressive commercial milestones. As such, we are now able to immediately expand the “Apollon” Brand along with our full medical product portfolio into South Africa.”
“We are looking forward to having a full complement of our formulations for multiple medical conditions in their network of dispensaries as well as in their proposed treatment facilities. We are also excited that they have already been engaging with other African countries to get effective and safe cannabis based medicinal products to patients in those jurisdictions where legal.”
Dr Shan Holmes, Chief Biomedical Scientist of PureCann , stated,
"We are delighted to be working with Apollon Formularies and specifically Dr Stephen D Barnhill as we grow our business from our base in
"I believe the cannabis sector is starting to experience a ‘second wave’ of interest, both from a medical and commercial perspective and
The Directors of the Company accept responsibility for the contents of this announcement.
For additional information, please visit www.apollon.org.uk or contact:
Tel: +44 771 198 0221
Stene Jacobs firstname.lastname@example.org
Peterhouse Capital Limited (Corporate Adviser)
Tel: +44 207 220 9795
Guy Miller email@example.com
BlytheRay (Financial PR/IR-
Tel: +44 207 138 3204
Tim Blythe/Megan Ray firstname.lastname@example.org
About Apollon Formularies and Apollon Formularies 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
PureCann Pty Ltd is a South African medical cannabis business established in the Western Cape province of
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