Receipt of Subscription Proceeds

Celadon Pharmaceuticals Plc

("Celadon", the "Group" or the "Company")

Receipt of Subscription Proceeds

London, 6 December 2024 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, wishes to provide an update on its financial position.

Further to recent updates the Company is pleased to announce that it has received the balance of £150,000 due from the subscriber in respect of the Third Admission of ordinary shares at a Subscription price of £1.05 as announced in May 2024.

James Short, Chief Executive Officer of Celadon, commented:

"We are grateful to the subscriber, and to our other shareholders, for their ongoing support.

As we approach year end, I would like to thank the Group's employees for their continued hard work to improve the quality of patient's lives through improving the yields on our harvests, furthering the Group's intellectual property development and remaining a key player in the UK's developing pharmaceutical cannabis market."

Enquiries:

About Celadon Pharmaceuticals Plc

Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines. Its primary focus is on improving quality of life for chronic pain sufferers, as well as exploring the potential of cannabis-based medicines for other conditions such as autism. Its 100,000 sq. ft UK facility is EU-GMP approved and comprises indoor hydroponic cultivation, proprietary GMP extraction and an analytical and R&D laboratory. Celadon's Home Office licence allows for the commercial supply of its pharmaceutical-grade cannabis product. The Group owns an approved clinical trial using cannabis-based medicinal products to treat chronic pain in the UK. Celadon also has a minority interest in early-stage biopharma Kingdom Therapeutics, which is developing a licensed cannabinoid medicine to treat children with Autism Spectrum Disorder.

For further information please visit our website www.celadonpharma.com

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.