Oxford Cannabinoid Tech.Holdings Final Dose Administered (4227N)
25 September 2023 - 8:00AM
UK Regulatory
TIDMOCTP
RNS Number : 4227N
Oxford Cannabinoid Tech.Holdings
25 September 2023
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Final Dose Administered in Phase I Clinical Trial for Lead Drug
Candidate OCT461201
Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP), the
pharmaceutical company developing prescription cannabinoid
medicines, is pleased to announce that the final dose of its lead
pharmaceutical drug compound, OCT461201, has been successfully
administered, as part of its Phase I clinical trial, with no drug
adverse effects observed.
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 final dose was successfully
administered on Wednesday, 20 September 2023, in line with the
Company's previously announced timeframe. 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.
The Company expects to report results by 16 October 2023.
The Directors of the Company accept responsibility for the
content of this announcement.
Enquiries:
O xford 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
020 3745 0293 / 07799
Acuitas Communications 767676
Simon Nayyar simon.nayyar@acuitascomms.com
Arthur Dingemans arthur.dingemans@acuitascomms.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 initially 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 forecast to reach US$1.17bn by
2028.
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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