Oxford Cannabinoid
Technologies Holdings plc
("OCT" or the
"Company")
Appointment of Hybridan as
financial adviser and broker
Oxford Cannabinoid Technologies
Holdings plc (LSE:OCTP), a clinical stage biopharmaceutical company
focused on the development and commercialisation of innovative
cannabinoid medicines, is pleased to announce the appointment of
Hybridan LLP ("Hybridan") as financial adviser and lead broker to
the Company with immediate effect.
Clarissa Sowemimo-Coker, Chief Executive Officer of OCT,
said:
"I
am pleased to announce the appointment of Hybridan as financial
adviser and broker to OCT. Claire Noyce and her team bring
significant sector-specific expertise with a strong focus on
biopharma and are well positioned to support the further
development of OCT's exciting and value-accretive story. As we
continue preparations to commence our Phase I clinical trial in
Australia, for OCT130401, which we expect to commence during Q2
2024, we look forward to working with the Hybridan
team."
Claire Noyce, Chief Executive Officer of Hybridan,
said:
"At this exciting time for OCT, we are delighted to be joining
the Company as its financial adviser and broker. As OCT moves
towards commencing clinical trials for its second programme, we
look forward to supporting Clarissa and her exceptional team in
delivering on their aim to help people living with debilitating
conditions and return value to the Company's
shareholders."
The Directors of the Company accept
responsibility for the content of this announcement.
Enquiries:
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Oxford Cannabinoid Technologies Holdings plc
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+44 (0)20 3034 2820
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Clarissa Sowemimo-Coker
(CEO)
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clarissa@oxcantech.com
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Hybridan LLP, Financial Adviser and Lead
Broker
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Claire Noyce
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+44 (0)20 3764 2341
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Axis Capital Markets Limited, Broker
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Richard Hutchison
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+44 (0)20 3026 0320
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Acuitas Communications, Financial PR
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020 3745 0293 / 07799
767676
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Simon Nayyar
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simon.nayyar@acuitascomms.com
|
|
Arthur Dingemans
|
arthur.dingemans@acuitascomms.com
|
About Oxford Cannabinoid
Technologies Holdings Plc:
Oxford Cannabinoid Technologies
Holdings plc ("OCT") is the holding company
of Oxford Cannabinoid
Technologies Ltd and OCT Victoria Pty Ltd (together the
"Group"), a pharmaceutical
Group developing prescription cannabinoid medicines initially
targeting the US$ multi-billion global pain market.
OCT 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"). The global market for CIPN alone
is currently forecast to reach US$1.17bn by 2028.
OCT'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 licence 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.
OCT 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. OCT's portfolio aims to balance risk, value
and time to market, whilst ensuring market exclusivity around all
its key activities.