REG - Oxford Cannabinoid - Directorate Appointment

Oxford Cannabinoid Technologies HoldingsAnnouncement

29/02/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240229:nRSc8622Ea&default-theme=true

RNS Number : 8622E  Oxford Cannabinoid Tech.Holdings  29 February 2024

 

Oxford Cannabinoid Technologies Holdings plc

("OCT" or the "Company")

 

Directorate Appointment

 

Oxford Cannabinoid Technologies Holdings plc (LSE:OCTP), the biotech company
developing prescription cannabinoid medicines, is pleased to announce the
appointment of Lord Mott OBE as an independent Non-Executive Director,
effective immediately.

Lord Mott has held senior positions in a range of organisations, including
experience in relation to private equity and venture capital. Lord Mott
currently serves on the board of an endowment fund, supporting the
contribution of capital and achieving the long-term aims of its investors.

Lord Mott previously served as a Lord in Waiting. In that role he worked with
the Foreign, Commonwealth & Development Office, Department for Energy and
NetZero, Cabinet Office and Northern Ireland Office. He also served as a
founding board member and director of the British Digital Private Markets
Association. From March 2020 to November 2022, Lord Mott was Chief Executive
Officer of the Conservative and Unionist Party.

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

"We are delighted to welcome Lord Mott as Non-Executive Director at this
exciting stage for the Company as we prepare to commence our Phase I clinical
trial for OCT130401 in Australia, targeting the £1.8bn global Trigeminal
Neuralgia market. Lord Mott brings to the Company a wealth of experience in
leading a range of large organisations, allied to his significant expertise in
and understanding of sectors and markets. We look forward to welcoming Lord
Mott to the Board and working together as the Company continues to advance in
our mission to harness the therapeutic power of cannabinoids."

Lord Mott said:

"I am pleased to be joining OCT, an exciting and innovative business which is
making great steps forward in order to help people who are currently living
with debilitating conditions. It is a thrilling time for me to be joining the
Company as it prepares to begin clinical trials for its second programme. I
look forward to working with board colleagues to promote and support further
progress in the delivery of the Company's work and to return value to its
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

 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

 Acuitas Communications                        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.

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  BOAUWUWRSOUUUAR