Phase I Clinical Trials Results

Last week, we were delighted to announce the results of our Phase I clincial trials for our lead compound OCT461201. Showing no safety or tolerability concerns with any dose tested, we are satisfied and excited that we can proceed to the next stage of clinical development.

Today, I wanted to take the opportunity to explain the significance of this announcement for our company.

Remarkably, we have been able to reach this stage, the crucial first clinical step along the path to our goal of delivering a product to market, fewer than 30 months since our IPO. For many biotech and pharmaceutical companies, even achieving Phase I results can prove to be a challenging endeavour. At OCT, however, we are thrilled to be able to share the results of our collective hard work and endeavour in reaching this milestone so swiftly.

We have spent years assembling a valued team who possess extensive experience and diverse expertise across pharmaceutical operations, R&D, intellectual property, law and finance which, supported by our Scientific Advisory Board, has been instrumental in getting us to this point.

Indeed, I know I speak for the entire team here at OCT when I say how touched we’ve been by the many messages of good wishes and support that have followed the announcement of the Phase I results. We really appreciate the support of each and every one of you that has helped us to get here and therefore, this announcement, belongs as much to you as it does to us.

Looking forward, therefore, we are grateful for your continued support as we advance along our journey of scientific discovery and research, as we aim to harness the therapeutic power of cannabinoids to improve the lives of people living with debilitating conditions.

Clarissa Sowemimo-Coker, Chief Executive Officer of Oxford Cannabinoid Technologies Holdings Plc.