Directorate Appointment

Oxford Cannabinoid Tech.Holdings

29 February 2024

 

Oxford Cannabinoid Technologies Holdings plc

("OCT" or the "Company")

Directorate Appointment

Oxford Cannabinoid Technologies Holdings plc (LSE:OCTP), the biotech company developing prescription cannabinoid medicines, is pleased to announce the appointment of Lord Mott OBE as an independent Non-Executive Director, effective immediately.

Lord Mott has held senior positions in a range of organisations, including experience in relation to private equity and venture capital. Lord Mott currently serves on the board of an endowment fund, supporting the contribution of capital and achieving the long-term aims of its investors.

Lord Mott previously served as a Lord in Waiting. In that role he worked with the Foreign, Commonwealth & Development Office, Department for Energy and NetZero, Cabinet Office and Northern Ireland Office. He also served as a founding board member and director of the British Digital Private Markets Association. From March 2020 to November 2022, Lord Mott was Chief Executive Officer of the Conservative and Unionist Party.

Clarissa Sowemimo-Coker, Chief Executive Officer of OCT, said:

"We are delighted to welcome Lord Mott as Non-Executive Director at this exciting stage for the Company as we prepare to commence our Phase I clinical trial for OCT130401 in Australia, targeting the £1.8bn global Trigeminal Neuralgia market. Lord Mott brings to the Company a wealth of experience in leading a range of large organisations, allied to his significant expertise in and understanding of sectors and markets. We look forward to welcoming Lord Mott to the Board and working together as the Company continues to advance in our mission to harness the therapeutic power of cannabinoids."

Lord Mott said:

"I am pleased to be joining OCT, an exciting and innovative business which is making great steps forward in order to help people who are currently living with debilitating conditions. It is a thrilling time for me to be joining the Company as it prepares to begin clinical trials for its second programme. I look forward to working with board colleagues to promote and support further progress in the delivery of the Company's work and to return value to its 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]
Cairn Financial Advisers LLP
Emily Staples	[phone]
Jo Turner	[phone]
Axis Capital Markets Limited
Richard Hutchison	[phone]
Acuitas Communications	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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