TIDMOCTP
RNS Number : 3123H
Oxford Cannabinoid Tech.Holdings
27 July 2023
27 July 2023
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
First Dose Administered in Phase I Clinical Trial for Lead Drug
Candidate OCT461201
&
Appointment of internationally recognised Pain Specialist Dr
Farquhar-Smith
OCTP is delighted to announce that the first-in-human dose of
its lead pharmaceutical drug compound, OCT461201, has been
successfully administered, as part of its Phase I clinical
trial.
The trial is being conducted in the UK in healthy volunteers by
Simbec Research Limited, part of Simbec-Orion Group Ltd, using a
single ascending dose protocol. The trial's principal objective is
to demonstrate the safety and tolerability of OCT461201, whilst
also providing pivotal information on its pharmacokinetic profile,
to confirm its value as a potential drug.
Results from the trial, which is being funded entirely from
OCTP's existing resources, are expected in Q3 2023.
Senior Advisory Appointment
OCTP is also very pleased to announce a further strengthening of
its advisory team with the appointment of Dr William Paul
Farquhar-Smith, an internationally recognised expert in
Chemotherapy-Induced Peripheral Neuropathy ("CIPN"), as an external
adviser to the Company.
CIPN is a painful and disabling condition that occurs as a side
effect of certain chemotherapy drugs. The global CIPN market is
currently valued at US$1.61bn. OCTP's lead compound, OCT461201, now
in Phase I clinical trials, has preclinical data indicating a
successful reduction in CIPN induced pain.
Dr Farquhar-Smith is a Consultant in Pain Medicine and
Anaesthetics at The Royal Marsden Foundation NHS Trust where he
leads the only dedicated CIPN clinic in the UK. He holds
fellowships from both the Faculty of Pain of the Royal College of
Anaesthetics and the Faculty of Intensive Care Medicine. His
special interests include pain experienced by cancer patients,
anaesthesia and pain education.
Dr Farquhar-Smith has also contributed to reference textbooks,
authored guidelines for cancer pain management published by the
British Pain Society, where he is co-chair, and lectured both
nationally and internationally, whilst maintaining an active
research portfolio. He is a reviewer for Cochrane and has advised
on policy including NICE guidelines. He has, to date, published
over 80 peer-reviewed original articles, chapters and letters.
Dr Farquhar-Smith currently sits on the Editorial Board of the
British Journal of Pain, is co -chair of the Association of
Palliative Medicine joint working group in Pain in Cancer Patients,
serves as Editor of Cancer Pain in Current Opinion in Supportive
and Palliative Care Journal, whilst also being section Head for
Chronic Pain for the f1000 educational website.
On the Clinical Trial, Clarissa Sowemimo-Coker, Chief Executive
Officer of OCTP commented: " I am so pleased and proud to be able
to announce the first dose of OCT461201 being administered to a
healthy volunteer. Both symbolically and commercially, this is an
enormous milestone for OCTP. Whilst this is the culmination of
years of hard work, it also lays down a marker for the future and
signals the beginning of a bigger journey."
On the appointment of Dr Farquhar-Smith, Ms Sowemimo-Coker
added: " We are delighted to welcome Dr Farquhar-Smith as an
adviser to OCTP. His clinical expertise and deep knowledge of CIPN
will be of exceptional value to us as we move forward with our
clinical trials for OCT461201, which we hope will prove to be a
first-in-class treatment.
"On average, an estimated 60% of people undergoing chemotherapy
are affected by CIPN after three months often resulting in patients
reducing or ceasing treatment as a result. Considering that the
global market for CIPN alone is forecast to reach $2.37bn by 2027
it is clear that there is both a significant market opportunity and
potential to improve people's lives."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
The Directors of the Company accept responsibility for the
content of this announcement.
Enquiries:
Oxford Cannabinoid Technologies +44 (0)20 3034 2820
Holdings plc clarissa@oxcantech.com
Clarissa Sowemimo-Coker (CEO)
Cairn Financial Advisers LLP
Emily Staples +44 (0)20 7213 0897
Jo Turner +44 (0) 20 7213 0885
Axis Capital Markets Limited
Richard Hutchison +44 (0)20 3026 0320
Walbrook PR Limited
Paul Vann/Nick Rome/Joe Walker +44 (0)20 7933 8780
+44 (0)7768 807631
oxcantech@walbrookpr.com
About Oxford Cannabinoid Technologies Holdings Plc:
Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the
holding company of Oxford Cannabinoid Technologies Ltd (together
the "Group"), a pharmaceutical Group developing prescription
cannabinoid medicines targeting the U$ 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 Phase I clinical trials, aimed at demonstrating safety and
tolerability. Trial results are expected in Q3 2023. 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.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed 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 re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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