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Productive start to 2022 for Apollon Formularies

After ending 2021 initiating the treatment of cancer patients in Jamaica, UK-based Apollon Formularies has continued with a productive start to 2022.

International medical cannabis company Apollon Formularies has announced the appointment of Roderick Claude McIllree as a non-executive director of the company.

McIllree, who was instrumental in bringing the company to the AQSE Growth Market via a reverse takeover in April 2021, has advised, funded and run public companies across multiple global exchanges in several sectors for more than 20 years. He has specific experience in technology, mining, international logistics and finance.

The news follows announcements across January 2022, including the renewal of its licenses in Jamaica which will enable the company to operate its new pharmaceutical processing laboratory, as well as to operate consumer dispensaries and provide spa services. It also announced the signing of new agreements with Jamaica’s Cannabis License Authority (CLA) licensed cultivators allowing access to high-quality flower, working with Jamaican farmers.

CEO of Apollon, Stephen Barnhill, MD, commented: “We are delighted to welcome Rod to the Board as a non-executive director.”

McIllree currently owns ordinary shares in the Apollon, representing approximately 29.06 per cent of the issued share capital.

“Rod, a significant shareholder in the company, has a long-established career with a demonstrable record of growing small-cap companies and creating shareholder value of many business ventures over a long career,” continued Barnhill.

“He brings a wealth of financial and directorial experience to the team, and I look forward to working with him as we move our business towards the global rollout of Apollon’s product range and medical expertise to supportive jurisdictions.”

Currently charmian of AIM-listed Bluejay Mining Plc., McIllree has been a long-time advisor to, and investor in, Apollon. The company has stated that it believed his appointment strengthens its board at a time that the company expects to experience significant growth.

In July 2021, Apollon announced results of third-party independent testing of its medical cannabis formulations, which demonstrated they were effective in killing hormone-resistant and hormone-sensitive prostate cancer cells in 3D cell cultures. 

McIllree commented: “Apollon is an excellent example of utilising research and development to help improve people’s lives. 

“The compelling results of Apollon’s formulations killing cancer cells in 3D-cell culture and the upcoming opening of the International Cancer and Chronic Pain Institute in Jamaica are important milestones for the company and offers outstanding potential on many fronts. 

“I look forward to working with Dr Barnhill and the wider Apollon team at this exciting time for growth as the company looks to execute on the various business partnership opportunities becoming available.”

Apollon expects to appoint further high-profile directors to the board in the coming month.

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