Oxford Cannabinoid Technologies - A move away from generic pain treatment
Oxford Cannabinoid Technologies (OCT) is focused on developing cannabinoid medicines for the treatment of pain and other indications. Lead asset OCT461201 is a synthetic, endocannabinoid system-targeting new chemical entity (NCE) being developed for the treatment of neuropathic pain associated with chemotherapy-induced peripheral neuropathy (CIPN) and visceral pain in irritable bowel syndrome (IBS). Preclinical studies have demonstrated positive early signals of efficacy in pain indications and IBS models. Patient enrolment for OCT’s UK Phase I dose-escalation and safety study of OCT461201 in healthy volunteers started in May 2023, and management believes this programme will be Phase II ready in Q3 CY23. OCT has three other active programmes in early stages of development, which involve synthetic phytocannabinoids and cannabinoid derivatives. We value OCT at £26.1m or 2.7p/share.
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