REG - Oxford Cannabinoid - Appointment of Chief Medical Officer

Oxford Cannabinoid Technologies HoldingsAnnouncement

08/06/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230608:nRSH0060Ca&default-theme=true

RNS Number : 0060C  Oxford Cannabinoid Tech.Holdings  08 June 2023

 

 

08 June 2023

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

 

Appointment of Chief Medical Officer

 

OCTP is pleased to announce the appointment of Dr Tim Corn as the Company's
new Chief Medical Officer ("CMO") effective immediately.

 

Dr Corn is an independent pharmaceuticals consultant who has held senior
positions in both large and small pharma organisations.  He is currently CMO
at Nodenza Inc and Medical Adviser to Confo Therapeutics SA, which recently
announced a global licensing deal with Eli Lilly and Company for the clinical
stage peripheral pain candidate CFTX-1554 and back-up compounds. He also
serves as a non-executive director on the Board of Physiomics plc.

 

He was formerly Chief Medical Officer International at Jazz Pharmaceuticals
plc and CMO at venture-backed companies EUSA Pharma Inc, acquired by Jazz
Pharmaceuticals plc in 2012, and Zeneus Pharma Ltd, acquired by Cephalon Inc
in 2005. Dr Corn has also played a key role in the successful conclusion of
more than twenty regulatory approvals in the US and Europe and is the author
of more than forty scientific publications. He was elected a Fellow of both
the Faculty of Pharmaceutical Medicine and the Royal College of Psychiatrists.

 

Dr Corn will oversee the Company's clinical research and development
activities as well as providing expert medical guidance and advice to the
team.

Commenting on Dr Corn's appointment, Clarissa Sowemimo-Coker, Chief Executive
Officer of OCTP, said: "We are delighted to welcome Tim to OCTP as Chief
Medical Officer, a new position within the Group, highlighting yet another
step change at OCTP, as we further strengthen the senior team. Tim's knowledge
of the regulatory environment and experience as a CMO make him a perfect fit
for this key role as we move forward through clinical trials towards
commercialisation.

"Having already established a Scientific Advisory Board last year,
demonstrating our commitment to growing a "best-in-class" network of
scientific, academic and commercial partners, we believe that as a highly
experienced and well-respected medical professional, Tim will provide further
validation of our vision."

The Directors of the Company accept responsibility for the content of this
announcement.

 

  Enquiries:

Oxford Cannabinoid Technologies Holdings plc  +44 (0)20 3034 2820

 Clarissa Sowemimo-Coker (CEO)                 clarissa@oxcantech.com

 Cairn Financial Advisers LLP

 Emily Staples                                 +44 (0)20 7213 0897

 Jo Turner                                     +44 (0) 20 7213 0885

 Axis Capital Markets Limited

 Richard Hutchison                             +44 (0)20 3026 0320

 Walbrook PR Limited

 Paul Vann                                     +44 (0)20 7933 8780

 Nick Rome                                     +44 (0)7768 807631

 Joe Walker                                    oxcantech@walbrookpr.com

About Oxford Cannabinoid Technologies Holdings Plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company
of Oxford Cannabinoid Technologies Ltd (together the "Group"), a
pharmaceutical Group developing prescription cannabinoid medicines targeting
the U$ multi-billion global pain market.

 

OCTP currently has a portfolio of four drug development programmes. Its lead
compound, OCT461201, will initially target neuropathic and visceral pain
(including irritable bowel syndrome ("IBS") and chemotherapy induced
peripheral neuropathy ("CIPN")), with Phase I clinical trials, aimed at
demonstrating safety and tolerability. Trial results are expected in Q3
2023.
(https://www.londonstockexchange.com/news-article/OCTP/updates-on-lead-programme-1-and-programme-2/15391762)
The global market for CIPN alone is currently valued at US$1.61bn and is
forecast to reach US$2.37bn by the year 2027.

 

OCTP's drug development pipeline comprises both natural and synthetic
compounds, and includes compounds targeting trigeminal neuralgia, a severe
type of face pain, and cannabinoid derivatives targeting pain and potentially
other therapeutic areas. Having established an exclusive license agreement
with Canopy Growth Corporation for their entire pharmaceutical cannabinoid
derivative library, OCTP now has a portfolio of almost five hundred
derivatives and intellectual property rights including fourteen patent
families and associated research data.

 

OCTP has a clearly defined path to commercialisation, revenues and growth. The
Group is developing drug candidates through clinical trials to gain regulatory
approval (FDA/MHRA/EMA) that will enable medical professionals to prescribe
them with confidence. OCTP's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key activities.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFLFIRRDIDIIV