Oxford Cannabinoid Technologies in a "comfortable position" ahead of Phase 1 results release
September 01, 2023 at 01:13 pm
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Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTCQB:OCTHF) chief executive Clarissa Sowemimo-Coker speaks to Thomas Warner from Proactive London after publishing final results for the year to 30 April 2023. She gives her take on the highlights from the year, which included the completion of preclinical work on two lead programs and the filing of the clinical trial application for lead compound 461201.
She also expresses pride in being recognised as a top workplace in the Sunday Times' Best Places to Work Awards, and acknowledges the guidance of esteemed experts on their Scientific Advisory Board. Sowemimo-Coker confirms that the eagerly-awaited phase one clinical trial results for Oxford Cannabinoid Technologies' first program are on track for release during the current quarter.
In terms of funding, she reassured investors that the company's prudent financial management has ensured full funding through to April 2024, supporting ongoing program development and potential phase two advancement.
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Oxford Cannabinoid Technologies Holdings plc is a United Kingdom-based pharmaceutical company developing prescription cannabinoid medicines. The Company is working with three types of cannabinoid compounds: synthesized phytocannabinoids, cannabinoid derivatives and novel chemical entities. Its 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 other therapeutic areas. It has a portfolio of four drug development programs: Program 1 (OCT461201), Program 2 (OCT130401), Program 3 (Cannabinoid derivative) and Program 4 (Cannabinoid derivative). Its OCT461201 is a new chemical entity, CB2 receptor agonist, chemically synthesized to behave like a cannabinoid. Its OCT130401 is a drug/device combination. It has a portfolio of over 500 derivatives and intellectual property rights, including 14 patent families and associated research data.