Oxford Cannabinoid Tech.Holdings Directorate Appointment (2956T)
14 Novembre 2023 - 8:00AM
UK Regulatory
TIDMOCTP
RNS Number : 2956T
Oxford Cannabinoid Tech.Holdings
14 November 2023
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Directorate Appointment
Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP), the
pharmaceutical company developing prescription cannabinoid
medicines, announces the following Board appointment.
Reflecting his exceptional experience and valued contribution to
the progress of OCTP, the Company is pleased to announce the
appointment of Dr Tim Corn, Chief Medical Officer ("CMO"), as an
executive director, effective immediately. As announced on 8 June
2023, Dr Corn joined OCTP as CMO to oversee the Company's clinical
research and development activities as well as to provide expert
medical guidance and advice to the team. Since joining, the Company
has successfully completed its first Phase I clinical trial, a
single ascending dose study of its lead compound OCT461201.
Dr Corn, formerly Chief Medical Officer International at Jazz
Pharmaceuticals plc, has played a key role in the successful
conclusion of more than twenty regulatory approvals in the US and
Europe and is the author of more than forty scientific
publications. He was elected Fellow of both the Faculty of
Pharmaceutical Medicine and the Royal College of Psychiatrists.
Clarissa Sowemimo-Coker, Chief Executive Officer of OCTP,
said:
"I'm delighted that Tim has agreed to join our board of
directors. His record speaks for itself and his comprehensive
experience of drug development, from its early stages through to
regulatory approval and commercialisation is hugely valuable for
OCTP. I am confident that his contribution will be invaluable to
the Board as OCTP takes its next steps on the clinical pathway for
both OCT461201 and our other programmes".
Dr Tim Corn, Chief Medical Officer of OCTP, said:
"I am very pleased to have been asked to join the Board of OCTP.
I am proud to have been able to contribute to the progress that the
business has been making, particularly in expanding into oncology
and successfully completing the Phase I single ascending dose study
for its lead programme. As we move forward to the next stage of
clinical development for this and our other programmes, I am
delighted to be able to put at the disposal of the Board my
clinical experience to help to support the Company's progress at
this exciting moment for the business."
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:
O xford Cannabinoid Technologies
Holdings plc +44 (0)20 3034 2820
Clarissa Sowemimo-Coker (CEO) clarissa@oxcantech.com
Cairn Financial Advisers LLP
Emily Staples +44 (0)20 7213 0897
Jo Turner +44 (0) 20 7213 0885
Axis Capital Markets Limited
Richard Hutchison +44 (0)20 3026 0320
Acuitas Communications 020 3745 0293 / 07799 767676
Simon Nayyar simon.nayyar@acuitascomms.com
Arthur Dingemans arthur.dingemans@acuitascomms.com
About Oxford Cannabinoid Technologies Holdings Plc:
Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the
holding company of Oxford Cannabinoid Technologies Ltd (together
the "Group"), a pharmaceutical Group developing prescription
cannabinoid medicines initially targeting the U$ multi-billion
global pain market.
OCTP 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.
OCTP's drug development pipeline comprises both natural and
synthetic compounds, and includes products 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.
OCTP 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. OCTP's portfolio aims to balance risk, value and time
to market, whilst ensuring market exclusivity around all its key
activities.
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