Oxford Cannabinoid Technologies Holdings PLC - cannabinoid medicines-focused pharmaceutical firm - Says that on Wednesday, it submitted a combined clinical trials application to the UK Medicines & Healthcare products Regulatory Agency and the Wales Research Ethics Committee 2 for its lead programme OCT461201.

OCT461201 ‘is a selective cannabinoid receptor type 2 agonist which has shown potential as an effective therapy for chemotherapy induced peripheral neuropathy as well as irritable bowel syndrome,’ Oxford Cannabinoid explains. It will be tested in the UK in healthy volunteers to demonstrate safety and tolerability. Phase 1 of the first-in-human clinical trial is set to start in the first quarter of 2023. The company expects the trial to complete in the second quarter of 2023.

Chief Executive Officer Clarissa Sowemimo-Coker says: ‘This submission is a very significant milestone for both the company and its shareholders, as Oxford Cannabinoid advances from a pre-clinical stage pharmaceutical company to a clinical stage pharmaceutical company. It moves us substantially closer to achieving our core aim of helping patients suffering from debilitating pain to feel better and have an improved quality of life, whilst also, ultimately, delivering value for shareholders.’

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12-month change: down 58%

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