REG - Oxford Cannabinoid - Appointment of Hybridan as Adviser

Oxford Cannabinoid Technologies HoldingsAnnouncement

18/03/2024 07:00

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RNS Number : 1418H  Oxford Cannabinoid Tech.Holdings  18 March 2024

 

Oxford Cannabinoid Technologies Holdings plc

("OCT" or the "Company")

 

Appointment of Hybridan as financial adviser and broker

 

Oxford Cannabinoid Technologies Holdings plc (LSE:OCTP), a clinical stage
biopharmaceutical company focused on the development and commercialisation of
innovative cannabinoid medicines, is pleased to announce the appointment of
Hybridan LLP ("Hybridan") as financial adviser and lead broker to the Company
with immediate effect.

Clarissa Sowemimo-Coker, Chief Executive Officer of OCT, said:

"I am pleased to announce the appointment of Hybridan as financial adviser and
broker to OCT. Claire Noyce and her team bring significant sector-specific
expertise with a strong focus on biopharma and are well positioned to support
the further development of OCT's exciting and value-accretive story. As we
continue preparations to commence our Phase I clinical trial in Australia, for
OCT130401, which we expect to commence during Q2 2024, we look forward to
working with the Hybridan team."

Claire Noyce, Chief Executive Officer of Hybridan, said:

"At this exciting time for OCT, we are delighted to be joining the Company as
its financial adviser and broker. As OCT moves towards commencing clinical
trials for its second programme, we look forward to supporting Clarissa and
her exceptional team in delivering on their aim to help people living with
debilitating conditions and return value to the Company's shareholders."

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

 Hybridan LLP, Financial Adviser and Lead Broker
 Claire Noyce                                     +44 (0)20 3764 2341

 Axis Capital Markets Limited, Broker
 Richard Hutchison                                +44 (0)20 3026 0320

 Acuitas Communications, Financial PR             020 3745 0293 / 07799 767676
 Simon Nayyar                                     simon.nayyar@acuitascomms.com
 Arthur Dingemans                                 arthur.dingemans@acuitascomms.com

 

About Oxford Cannabinoid Technologies Holdings Plc:

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

 

OCT 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"). The global market for CIPN alone is currently
forecast to reach US$1.17bn by 2028.

 

OCT'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 licence 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.

 

OCT 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. OCT's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key activities.

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