TIDMOCTP
RNS Number : 1241G
Oxford Cannabinoid Tech.Holdings
17 July 2023
17 July 2023
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Expansion into oncology
Potential New Cannabinoid-Based Treatment of Cancer
Malignancies
OCTP, the pharmaceutical company developing prescription
cannabinoid medicines, is formally expanding its research and
development strategy into oncology having identified a potential
"first in class" immunotherapy agent for the treatment of solid
tumours.
The Company's analysis of the initial data shows excellent
drug-like potential in terms of in vitro potency and selectivity to
target, as well as in vivo availability in blood. This implies
substantive potential for the development of a cannabinoid-based
medicine that could be taken at home, as a tablet.
Programme 4 - Expansion into oncology
The asset has arisen from the work being carried out on OCTP's
cannabinoid library of almost 500 derivatives for the Company's
Programme 4 and further demonstrates the value in OCTP's exclusive
licence agreement with Canopy Growth Corporation.
At this early stage of development, management believes the
potency shown on the selected target in vitro, in addition to its
in vivo behaviour, demonstrates significant potential. Attention
will now focus on further in vitro and in vivo studies to highlight
the full potential of this lead-candidate. This will be followed by
a safety-pharmacology assessment before final candidate selection,
likely during 2024. This work will be carried out using the
existing cash resources of the Company.
This programme is targeting a share of a market of therapies
against solid tumours projected to be worth US$532bn by 2032. In
2021, the immunomodulators segment accounted for more than 20% of
an immunotherapy drugs global market worth $110bn which is expected
to expand at a compound annual growth rate (CAGR) of 6.92% from
2022 to 2030.
Key potential benefits
Immunotherapy is currently only licensed to treat certain
advanced cancers and often produces significant side effects, in
addition to being a substantial cost burden to the NHS and other
health providers.
In general, existing cancer immunotherapies work by initially
helping the human immune system to better attack and destroy the
cancer, and then by preventing or considerably delaying cancer
reappearance. OCTP's internal analysis shows that its asset is
based on a mechanism of action which removes the "brake" which the
cancer sets on the patient's immunity, triggering the patient's own
immune cells to attack the cancer again.
While current therapies based on antibodies or cell therapies
("biologics") are expensive and hard to access (usually requiring
travel to cancer centres), OCTP's asset - like the other
cannabinoids developed by the Company - has the potential to
provide an efficacious drug which can be taken at home as a tablet,
potentially making it cheaper for both public and private
healthcare providers and more convenient for patients.
Clarissa Sowemimo-Coker, Chief Executive Officer of OCTP,
commented: "There is an urgent need for new cancer medications. The
OCTP team has discovered a potential first-line-treatment
alternative to existing therapies and their side effects which
could provide a viable alternative to expensive biologics. Although
we're at an early stage, this is exciting news for the Company. As
the potential of cannabinoid-based medicines to treat a range of
conditions in a less harmful and more economic manner receives
growing public recognition, OCTP stands at the forefront of
research & development and we are extremely excited to have
identified a possible candidate that could have a significant
impact on many peoples' lives.
"We are innovative specialists within the global pain and
oncology markets and we will continue to develop new opportunities
that will ultimately benefit people suffering with a range of
debilitating, life altering conditions."
The Directors of the Company accept responsibility for the
content of this announcement.
Enquiries:
Oxford Cannabinoid Technologies Holdings +44 (0)20 3034 2820
plc clarissa@oxcantech.com
Clarissa Sowemimo-Coker (CEO)
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
Walbrook PR Limited
Paul Vann +44 (0)20 7933 8780
Nick Rome +44 (0)7768 807631
Joe Walker oxcantech@walbrookpr.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 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")),
with the Phase I clinical trial, aimed at demonstrating safety and
tolerability. Trial results are expected in Q3 2023. The global
market for CIPN alone is currently valued at US$1.61bn and is
forecast to reach US$2.37bn by the year 2027.
OCTP'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 license 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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