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Our Cannabis team advised UK-based Celadon Pharmaceuticals PLC (“Celadon”) on a strategic partnership with Danish pharmaceutical company Valeos Pharma A/S (“Valeos”).
In accordance with the agreement, Celadon will license some of its genetics for cultivation to Valeos. The agreement will allow the two companies to supply pharmaceutical-grade cannabis active Pharmaceutical Ingredient (API) to Celadon’s existing and prospective customers in Europe.
Valeos has a licensed cultivation facility located in Denmark that is capable of producing 1.5 tonnes of pharmaceutical grade medical cannabis each year. Celadon will use its expertise in facility design and cultivation techniques to help Valeos renovate its cultivation rooms. This could result in a 100% increase of yield, worth up to PS30million annually. Celadon’s intellectual property will be used to begin production in Valeos refitted rooms in Q1 2025.
Partner Samantha MyersCeladon was advised by Gowling WLG’s Head of UK Cannabis on this agreement. Alexi Markham Commercial and Sharmela Kalmer (IP).
Samantha commented on the deal: “I’m delighted to have worked on this agreement with our valued client Celadon Pharmaceuticals that will help support their advancement in medical marijuana supply and production for customers and accelerate Celadon Pharmaceuticals’ path to profitability.”
The Cannabis Group at Gowling WLG helps a variety of cannabis industry participants to manage the regulatory and business frameworks that shape the sector. They work closely together with entities from other industries that are interested in leveraging the growth opportunities offered by cannabis.
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