REG - Oxford Cannabinoid - Update on combined Clinical Trial Application

Oxford Cannabinoid Technologies HoldingsAnnouncement

12/01/2023 07:00

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RNS Number : 4579M  Oxford Cannabinoid Tech.Holdings  12 January 2023

 

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

 

Update on combined Clinical Trial Application for Phase I Clinical Trials

 

Further to the Company's announcement of 5 January 2023, OCTP confirms that
the REC review meeting, an important element of the combined Clinical Trial
Application for Phase I clinical trials for its lead programme OCT461201, took
place yesterday. The ongoing review process is being undertaken in parallel by
the Wales Research Ethics Committee ("REC") and the UK Medicines and
Healthcare Products Regulatory Agency ("MHRA").

 

The Company will provide a further update on the outcome of the review in due
course.

 

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

 Kamran Hussain                                +44 (0)20 3026 0320

 Richard Hutchison

 finnCap Ltd

 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

 

About Oxford Cannabinoid Technologies Holdings Plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company
of 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 1 clinical trials, aimed at
demonstrating safety and tolerability [in humans], due to commence in the near
term. Trial results are expected in Q2 2023.
(https://www.londonstockexchange.com/news-article/OCTP/updates-on-lead-programme-1-and-programme-2/15391762)
The global market for CIPN alone was valued at US$1.61bn in 2020 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 over 400 derivatives and
intellectual property rights including 14 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.

 

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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