TIDMOCTP
RNS Number : 1949T
Oxford Cannabinoid Tech.Holdings
23 November 2021
23 November 2021
Oxford Cannabinoid Technologies Holdings plc
New agreement signed with Dalriada Drug Discovery Inc. of Canada
("Dalriada")
-- Dalriada agreement to propel OCT R&D activities by
evaluating the cannabinoid derivatives acquired under the exclusive
licence agreement with Canopy Growth Corporation ("Canopy") to
advance Programmes 3 and 4, targeting pain, neurology, and
inflammation
-- Canopy's library includes 335 cannabinoid derivatives, 14
patent families and related intellectual property
Oxford Cannabinoid Technologies Holdings plc ("OCTP" or the
"Company"), the holding company of Oxford Cannabinoid Technologies
Ltd ("OCT", together, the "Group"), a company developing licensed
prescription cannabinoid medicines for approval by regulatory
agencies worldwide and targeting the U$ multi-billion pain market,
is pleased to announce that OCT has signed an important new drug
development agreement with Dalriada.
The agreement with Dalriada, a Canadian company which provides
drug discovery, medicinal chemistry and intellectual property
services to pharmaceutical companies, will provide R&D
activities on compounds OCT accessed as part of its exclusive,
worldwide licence agreement signed with Canopy, announced on 22
September 2021. OCT's exclusive license includes Canopy's entire
cannabinoid derivative library, comprising 335 derivatives,
intellectual property rights constituting 14 patent families, and
associated product research and development.
Dalriada designed, synthesized and experimentally tested all of
the compounds in the Canopy library. OCT will be able to leverage
Dalriada's existing knowledge and experience as it continues
research and development aimed at identifying multiple drug
candidates targeting indications in pain, neurology, inflammation
and oncology. A goal of the collaboration is the selection of two
drug candidates ready for pre-clinical development by the end of
2022.
OCTP Chief Executive, Dr John Lucas, said: "Whilst our main
focus remains pain therapy, the collaboration with Dalriada, in
synergy with the strategic collaborations recently announced, will
enable us to expand and differentiate our efforts into other
therapeutic areas including neurology, oncology and inflammation.
Working with the team that helped Canopy to develop its library is
hugely exciting for OCT and will help us get the very best out of
that important acquisition."
Dalriada Chief Executive and co-founder, Diana Kraskouskaya
said: "Dalriada looks forward to supporting OCT advance the
cannabinoid derivative library we helped discover. Targeting the
endogenous cannabinoid system with small molecules holds
significant promise in delivering improved therapies and over the
years, we have significantly invested in building our expertise and
infrastructure in this pharmacology as well as our work with
controlled substances. Together we are well equipped to rapidly
advance OCT's pipeline through hit-to-lead and lead
optimization."
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 john@oxcantech.com
Dr John Lucas (CEO) clarissa@oxcantech.com
Clarissa Sowemimo-Coker (COO)
Cairn Financial Advisers LLP
Emily Staples +44 (0)20 7213 0897
Jo Turner +44 (0) 20 7213 0885
Walbrook PR Limited +44 (0)20 7933 8780
Paul Vann +44 (0)7768 807631
Nick Rome oxcantech@walbrookpr.com
Harbor Access LLC Richard.Leighton@HarborAccessllc.com
Richard Leighton +1 (475) 455 9403
Jonathan Paterson
About Oxford Cannabinoid Technologies Holdings Plc :
Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the
holding company of Oxford Cannabinoid Technologies Ltd ("OCT"), a
pharmaceutical company developing prescription cannabinoid
medicines for approval by key medicines regulatory agencies
worldwide and targeting the U$ multi-billion pain market (together
the "Group"). Cannabinoids are compounds found in the cannabis
plant that have been shown to have a range of therapeutic effects
on the body, including pain relief. The Group 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.
The Group's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key
activities. The Group's lead compound, OCT461201, is a highly
potent and selective CB2 agonist and is being developed by OCT in a
solid oral dosage form. OCT is conducting pre-clinical testing and
development with pre-clinical trials scheduled for 2022. The
Group's product pipeline also uses a balanced drug product strategy
that employs phytocannabinoids, cannabinoid derivatives and other
novel compounds for the treatment of pain.
OCTP operates a partnership model with external academic and
commercial partners, including the University of Oxford.
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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