Oxford Cannabinoid Tech.Holdings Appointment of Hybridan as Adviser

RNS Number : 1418H

Oxford Cannabinoid Tech.Holdings

18 March 2024

 

 

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:

 

Oxford Cannabinoid Technologies Holdings plc	[phone]
Clarissa Sowemimo-Coker (CEO)	[e-mail]
Hybridan LLP, Financial Adviser and Lead Broker
Claire Noyce	[phone]
Axis Capital Markets Limited, Broker
Richard Hutchison	[phone]
Acuitas Communications, Financial PR	020 3745 0293 / 07799 767676
Simon Nayyar	[e-mail]
Arthur Dingemans	[e-mail]

 

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.

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