Oxford Cannabinoid Technologies submits clinical trial application

By Sam Pither

9 January 2023

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Cannabinoid pharmaceutical firm Oxford Cannabinoid Technologies has submitted a combined clinical trials application for its lead OCT461201 programme.

OCT461201 is a selective cannabinoid receptor type two agonist, meaning it is mostly involved in anti-inflammatory and immunosuppressive actions. They are distinct from type one agonists, which are associated with the psychoactive effects of cannabinoids.

This specific cannabinoid has shown potential in counteracting chemotherapy-induced peripheral neuropathy, which can cause symptoms including pain, muscle weakness and constipation, along with irritable bowel syndrome. Estimated to be worth $1.61 billion in 2020, the CIPN market is projected to reach $2.37 billion by 2027.

It is due to enter Phase I first-in-human clinical trials in the first quarter of this year, funded by OCTP’s existing resources. Using healthy, UK-based volunteers, it will aim to show the safety and tolerability of OCT461201 along with providing pivotal information on its pharmacokinetic profile. The trial is expected to be finished in the second quarter of 2023.

Clarissa Sowemimo-Coker, Chief Executive Officer of OCTP, said: "We are very excited that the successful completion of the pre-clinical development of OCT461201 has resulted in such positive outcomes, especially as a potentially effective therapy for CIPN and IBS, supporting progress of our lead candidate to the next crucial phase of development - randomised, controlled clinical trials.

“This submission is a very significant milestone for both the Company and its shareholders, as OCTP advances from a pre-clinical stage pharmaceutical company to a clinical stage pharmaceutical company.

“It moves us substantially closer to achieving our core aim of helping patients suffering from debilitating pain to feel better and have an improved quality of life, whilst also, ultimately, delivering value for shareholders."

Featured image: iStock

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.