Oxford Cannabinoid Technologies Holdings plc: Post IPO Review & Notice of Pre-Close Trading Update

CANNANNEW REPORT

Oxford Cannabinoid Technologies Holdings plc (“OCTP” or the “Company”), the holding company of Oxford Cannabinoid Technologies Ltd (“OCT”) (together the “Group”), a UK pharmaceutical company focussed on developing a portfolio of cannabinoid-based prescription medicines, approved by medicines regulatory agencies which target the pain market, is pleased to provide an update following its £16.5 million fundraise and admission to the standard segment of the Official List and to trading on the London Stock Exchange Group plc’s Main Market for listed securities in May 2021 (together “Admission”). Since Admission, the Group has entered into two important commercial agreements which will contribute significantly not only to the development of its lead compound, OCT461201, but also to a number of its other drug development programmes. On 1 June 2021, the Group announced an agreement with Voisin Consulting SARL (“VC”), a life sciences consultancy comprising over 200 professionals in the UK, US and India, with expertise in medical devices, cannabinoids, neurological disorders and addictions. The agreement with VC provides OCT with support and advice on its regulatory strategy and a roadmap for its drug development programmes in the UK and the US and, subsequently, in Europe. This includes First Time in Human (“FTiH”) clinical trials, which are expected to commence in 2022, for the Group’s lead compound OCT461201, a selective cannabinoid receptor type 2 (“CB2”) agonist with initial indications in the areas of post herpetic neuralgia and visceral pain caused by irritable bowel syndrome. A further development was announced on 6 July 2021 with OCT signing a service agreement with Aptuit (Verona) SRL, a subsidiary of Evotec SE, a fully integrated drug discovery and development company, based in Germany, with a market capitalisation of approximately €5.7billion as at the date of this announcement. This agreement will provide access to Evotec’s technology platform to further accelerate…

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Source : Oxford Cannabinoid Technologies Holdings plc: Post IPO Review & Notice of Pre-Close Trading Update

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