REG - Oxford Cannabinoid - Directorate Change

Oxford Cannabinoid Technologies HoldingsAnnouncement

17/10/2022 07:00

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RNS Number : 0213D  Oxford Cannabinoid Tech.Holdings  17 October 2022

 

17 October 2022

 

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or "the Company")

 

Directorate Change

 

Further to the announcement of 26 August 2022, Oxford Cannabinoid Technologies
Holdings plc, the pharmaceutical company developing prescription cannabinoid
medicines targeting the US$ multi-billion pain market, announces the following
Board changes.

The Company is pleased to announce the appointment of Paul William Smalley as
the new Group Finance Director with effect from 17 October 2022.  He takes
over from Karen Lowe who is standing down from the Board and leaves the
Company on 31 October 2022.

 

Paul joins the Company from Panthera Biopartners Ltd, a clinical trials
management company where he was the Finance Director and Company Secretary
overseeing financial and treasury management, as well as assisting with
mergers and acquisitions.  As a CIMA qualified accountant, Paul has more than
25 years' UK and international financial experience including strategic
management capabilities gained across a wide range of market sectors, with
expertise extending to IT, HR and procurement.  He has worked in a variety of
organisations, from SMEs to quoted companies including as Finance Director of
JOST UK Ltd, which was a UK subsidiary of JOST Werke AG, a company quoted on
the Frankfurt Stock Exchange.

 

Julie Pomeroy, OCTP Non-Executive Chair said: "We are delighted to welcome
Paul to the Board.  He brings with him a number of years' strategic financial
management experience from the life science and wider sectors, in both the UK
and mainland Europe.  And I am sure that he will quickly become a highly
valued member of the OCTP team.  We also wish Karen every success in the
future and thank her wholeheartedly for her commitment and contribution to
OCTP. "

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).

 

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

Enquiries:

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

 Dr John Lucas (CEO)                           john@oxcantech.com

 Clarissa Sowemimo-Coker (COO)                 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

 Kamran Hussain                                +44 (0)20 3026 0320

 Richard Hutchison

 finnCap Ltd

 James Thompson/Geoff Nash/Fergus Sullivan     +44 (0) 20 7220 0500

 Nigel Birks (ECM)

 Walbrook PR Limited                           +44 (0)20 7933 8780

 Paul Vann/Nick Rome                           +44 (0)7768 807631

                                               oxcantech@walbrookpr.com

 Harbor Access LLC

 Richard Leighton/Jonathan Paterson            +1 (475) 455 9403

                                               Richard.Leighton@HarborAccessllc.com

About Oxford Cannabinoid Technologies Holdings plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company
of Oxford Cannabinoid Technologies Ltd ("OCT") (together the "Group"), a
pharmaceutical Group developing prescription cannabinoid medicines for
approval by key medicines regulatory agencies worldwide and targeting the U$
multi-billion pain market. Cannabinoids are compounds found in the cannabis
plant that have been shown to have a range of therapeutic effects on the body,
including pain relief. The Group 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.

The Group's portfolio aims to balance risk, value and time to market, whilst
ensuring market exclusivity around all its key activities. The Group's lead
compound, OCT461201, is a highly potent and selective CB2 agonist and is being
developed by OCTP in a solid oral dosage form. OCTP is conducting pre-clinical
testing and development with clinical trials scheduled for Q1 2023. The
Group's product pipeline also uses a balanced drug product strategy that
employs both natural and synthetic compounds for the treatment of rare
diseases and includes chemically modified phytocannabinoids with improved
drug-like characteristics and a proprietary library of cannabinoids.

OCTP operates a partnership model with external academic and commercial
partners.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

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