Oxford Cannabinoid Technologies CEO says objective "absolutely met" in lead asset trial
London, UK
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October 10, 2023 04:36 AM Eastern Daylight Time
Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTCQB:OCTHF) chief executive Clarissa Sowemimo-Coker speaks to Thomas Warner from Proactive London after the pharmaceutical group announced phase 1 clinical trial results for its lead drug candidate OCT461201.
Sowemimo-Coker explains that OCT461201 is the most advanced of the company's four programmes. The trial, conducted in collaboration with Simbec-Orion, tested the compound on healthy volunteers, with the final dose administered on September 20th.
She says "since then we've been crunching the numbers and just processing those healthy volunteers to make sure we are in good shape and I'm very pleased to report [that we're] absolutely fine, no adverse events and all looking good from a safety and tolerability point of view - so that objective absolutely met."
Sowemimo-Coker emphasises that while the compound binds to a cannabinoid receptor, it's technically not a cannabinoid but a new chemical entity. The company aims to treat chemotherapy-induced peripheral neuropathy (CIPN) with this compound, a condition affecting 60% of chemotherapy patients.
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