Directorate Change

RNS Number : 0213D

Oxford Cannabinoid Tech.Holdings

17 October 2022

 

17 October 2022

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or "the Company")

Directorate Change

Further to the announcement of 26 August 2022, Oxford Cannabinoid Technologies Holdings plc, the pharmaceutical company developing prescription cannabinoid medicines targeting the US$ multi-billion pain market, announces the following Board changes.

The Company is pleased to announce the appointment of Paul William Smalley as the new Group Finance Director with effect from 17 October 2022.  He takes over from Karen Lowe who is standing down from the Board and leaves the Company on 31 October 2022. 

Paul joins the Company from Panthera Biopartners Ltd, a clinical trials management company where he was the Finance Director and Company Secretary overseeing financial and treasury management, as well as assisting with mergers and acquisitions.  As a CIMA qualified accountant, Paul has more than 25 years' UK and international financial experience including strategic management capabilities gained across a wide range of market sectors, with expertise extending to IT, HR and procurement.  He has worked in a variety of organisations, from SMEs to quoted companies including as Finance Director of JOST UK Ltd, which was a UK subsidiary of JOST Werke AG, a company quoted on the Frankfurt Stock Exchange.

Julie Pomeroy, OCTP Non-Executive Chair said: " We are delighted to welcome Paul to the Board.  He brings with him a number of years' strategic financial management experience from the life science and wider sectors, in both the UK and mainland Europe.  And I am sure that he will quickly become a highly valued member of the OCTP team .  We also wish Karen every success in the future and thank her wholeheartedly for her commitment and contribution to OCTP . "

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:

Oxford Cannabinoid Technologies Holdings plc Dr John Lucas (CEO) Clarissa Sowemimo-Coker (COO)	[phone] [e-mail] [e-mail]
Cairn Financial Advisers LLP Emily Staples Jo Turner	[phone] [phone]
Axis Capital Markets Limited Kamran Hussain Richard Hutchison finnCap Ltd James Thompson/Geoff Nash/Fergus Sullivan Nigel Birks (ECM) Walbrook PR Limited Paul Vann/Nick Rome Harbor Access LLC Richard Leighton/Jonathan Paterson	[phone] [phone] [phone] [phone] [e-mail] [phone] [e-mail]

About Oxford Cannabinoid Technologies Holdings plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company of Oxford Cannabinoid Technologies Ltd ("OCT") (together the "Group"), a pharmaceutical Group developing prescription cannabinoid medicines for approval by key medicines regulatory agencies worldwide and targeting the U$ multi-billion pain market. Cannabinoids are compounds found in the cannabis plant that have been shown to have a range of therapeutic effects on the body, including pain relief. The Group 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.

The Group's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities. The Group's lead compound, OCT461201, is a highly potent and selective CB2 agonist and is being developed by OCTP in a solid oral dosage form. OCTP is conducting pre-clinical testing and development with clinical trials scheduled for Q1 2023. The Group's product pipeline also uses a balanced drug product strategy that employs both natural and synthetic compounds for the treatment of rare diseases and includes chemically modified phytocannabinoids with improved drug-like characteristics and a proprietary library of cannabinoids.

OCTP operates a partnership model with external academic and commercial partners.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

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