Oxford Cannabinoid Technologies (OCT), a biotech firm developing prescription cannabinoid medicines, has shared interim results for the six months ended 31 October 2023.
That period saw the successful completion of the company’s first phase I clinical trial for its lead programme, OCT461201, backed by a £1.1 million investment.
The programme involves a drug candidate with the potential to treat irritable bowel syndrome and chemotherapy-induced peripheral neuropathy.
Visit Hampshire Biz News for bright, upbeat and positive business news from the county
Over the past half year, OCT has also discovered a potential leading immunotherapy agent for the treatment of solid tumours and appointed Dr Tim Corn to the executive management team.
Its cash balance stood at £1.1 million at the end of October following cutbacks in salaries and overheads.
CEO Clarissa Sowemimo-Coker said: “It’s been a hugely exciting period of activity and we’re delighted with the progress that’s been made.
“In particular, successfully completing our first clinical trial is a huge milestone for the company, and the whole team is rightly proud of that achievement.”
Read more - Sustainable fuel startup OXCCU brings on new head of commercial
Bath-based Future plc, the publisher of specialist online and print magazines, said trading in its…
The university of Bristol was one of six organisations to receive a contract from the…
Oxford BioDynamics Plc is teaming up with researchers at King's College London in a bid…
More than a quarter of a million extra construction workers are needed in the UK…
Kent-based housebuilder Vistry revealed it was on track to deliver more than 10% growth in…
A Dorset-based company, which has developed ground-breaking technology to recycle plastic waste and turn it…