REG - Oxford Cannabinoid - Expansion into oncology

Oxford Cannabinoid Technologies HoldingsAnnouncement

17/07/2023 07:00

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RNS Number : 1241G  Oxford Cannabinoid Tech.Holdings  17 July 2023

 

17 July 2023

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

 

Expansion into oncology

 

Potential New Cannabinoid-Based Treatment of Cancer Malignancies

 

OCTP, the pharmaceutical company developing prescription cannabinoid
medicines, is formally expanding its research and development strategy into
oncology having identified a potential "first in class" immunotherapy agent
for the treatment of solid tumours.

 

The Company's analysis of the initial data shows excellent drug-like potential
in terms of in vitro potency and selectivity to target, as well as in vivo
availability in blood. This implies substantive potential for the development
of a cannabinoid-based medicine that could be taken at home, as a tablet.

 

Programme 4 - Expansion into oncology

The asset has arisen from the work being carried out on OCTP's cannabinoid
library of almost 500 derivatives for the Company's Programme 4 and further
demonstrates the value in OCTP's exclusive licence agreement with Canopy
Growth Corporation.

 

At this early stage of development, management believes the potency shown on
the selected target in vitro, in addition to its in vivo behaviour,
demonstrates significant potential. Attention will now focus on further in
vitro and in vivo studies to highlight the full potential of this
lead-candidate. This will be followed by a safety-pharmacology assessment
before final candidate selection, likely during 2024. This work will be
carried out using the existing cash resources of the Company.

 

This programme is targeting a share of a market of therapies against solid
tumours projected to be worth US$532bn by 2032. In 2021, the immunomodulators
segment accounted for more than 20% of an immunotherapy drugs global market
worth $110bn which is expected to expand at a compound annual growth rate
(CAGR) of 6.92% from 2022 to 2030.

 

Key potential benefits

Immunotherapy is currently only licensed to treat certain advanced cancers and
often produces significant side effects, in addition to being a substantial
cost burden to the NHS and other health providers.

 

In general, existing cancer immunotherapies work by initially helping the
human immune system to better attack and destroy the cancer, and then by
preventing or considerably delaying cancer reappearance. OCTP's internal
analysis shows that its asset is based on a mechanism of action which removes
the "brake" which the cancer sets on the patient's immunity, triggering the
patient's own immune cells to attack the cancer again.

 

While current therapies based on antibodies or cell therapies ("biologics")
are expensive and hard to access (usually requiring travel to cancer centres),
OCTP's asset - like the other cannabinoids developed by the Company - has the
potential to provide an efficacious drug which can be taken at home as a
tablet, potentially making it cheaper for both public and private healthcare
providers and more convenient for patients.

 

Clarissa Sowemimo-Coker, Chief Executive Officer of OCTP, commented: "There is
an urgent need for new cancer medications. The OCTP team has discovered a
potential first-line-treatment alternative to existing therapies and their
side effects which could provide a viable alternative to expensive biologics.
Although we're at an early stage, this is exciting news for the Company. As
the potential of cannabinoid-based medicines to treat a range of conditions in
a less harmful and more economic manner receives growing public recognition,
OCTP stands at the forefront of research & development and we are
extremely excited to have identified a possible candidate that could have a
significant impact on many peoples' lives.

 

"We are innovative specialists within the global pain and oncology markets and
we will continue to develop new opportunities that will ultimately benefit
people suffering with a range of debilitating, life altering conditions."

 

 

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 the Phase I clinical trial, 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.

 

 

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