Last checked at 17 Jul 2023 07:00
17 July 2023
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or the "Company")
Expansion into oncology
Potential New Cannabinoid-Based Treatment of Cancer Malignancies
OCTP, the pharmaceutical company developing prescription cannabinoid medicines, is formally expanding its research and development strategy into oncology having identified a potential "first in class" immunotherapy agent for the treatment of solid tumours.
The Company's analysis of the initial data shows excellent drug-like potential in terms of in vitro potency and selectivity to target, as well as in vivo availability in blood. This implies substantive potential for the development of a cannabinoid-based medicine that could be taken at home, as a tablet.
Programme 4 - Expansion into oncology
The asset has arisen from the work being carried out on OCTP's cannabinoid library of almost 500 derivatives for the Company's Programme 4 and further demonstrates the value in OCTP's exclusive licence agreement with Canopy Growth Corporation.
At this early stage of development, management believes the potency shown on the selected target in vitro, in addition to its in vivo behaviour, demonstrates significant potential. Attention will now focus on further in vitro and in vivo studies to highlight the full potential of this lead-candidate. This will be followed by a safety-pharmacology assessment before final candidate selection, likely during 2024. This work will be carried out using the existing cash resources of the Company.
This programme is targeting a share of a market of therapies against solid tumours projected to be worth US$532bn by 2032. In 2021, the immunomodulators segment accounted for more than 20% of an immunotherapy drugs global market worth $110bn which is expected to expand at a compound annual growth rate (CAGR) of 6.92% from 2022 to 2030.
Key potential benefits
Immunotherapy is currently only licensed to treat certain advanced cancers and often produces significant side effects, in addition to being a substantial cost burden to the NHS and other health providers.
In general, existing cancer immunotherapies work by initially helping the human immune system to better attack and destroy the cancer, and then by preventing or considerably delaying cancer reappearance. OCTP's internal analysis shows that its asset is based on a mechanism of action which removes the "brake" which the cancer sets on the patient's immunity, triggering the patient's own immune cells to attack the cancer again.
While current therapies based on antibodies or cell therapies ("biologics") are expensive and hard to access (usually requiring travel to cancer centres), OCTP's asset - like the other cannabinoids developed by the Company - has the potential to provide an efficacious drug which can be taken at home as a tablet, potentially making it cheaper for both public and private healthcare providers and more convenient for patients.
Clarissa Sowemimo-Coker, Chief Executive Officer of OCTP, commented: "There is an urgent need for new cancer medications. The OCTP team has discovered a potential first-line-treatment alternative to existing therapies and their side effects which could provide a viable alternative to expensive biologics. Although we're at an early stage, this is exciting news for the Company. As the potential of cannabinoid-based medicines to treat a range of conditions in a less harmful and more economic manner receives growing public recognition, OCTP stands at the forefront of research & development and we are extremely excited to have identified a possible candidate that could have a significant impact on many peoples' lives.
"We are innovative specialists within the global pain and oncology markets and we will continue to develop new opportunities that will ultimately benefit people suffering with a range of debilitating, life altering conditions."
The Directors of the Company accept responsibility for the content of this announcement.
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About Oxford Cannabinoid Technologies Holdings Plc:
Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company of Oxford Cannabinoid Technologies Ltd (together the "Group"), a pharmaceutical Group developing prescription cannabinoid medicines targeting the U$ multi-billion global pain market.
OCTP currently has a portfolio of four drug development programmes. Its lead compound, OCT461201, will initially target neuropathic and visceral pain (including irritable bowel syndrome ("IBS") and chemotherapy induced peripheral neuropathy ("CIPN")), with the Phase I clinical trial, aimed at demonstrating safety and tolerability. Trial results are expected in Q3 2023. The global market for CIPN alone is currently valued at US$1.61bn and is forecast to reach US$2.37bn by the year 2027.
OCTP's drug development pipeline comprises both natural and synthetic compounds, and includes compounds targeting trigeminal neuralgia, a severe type of face pain, and cannabinoid derivatives targeting pain and potentially other therapeutic areas. Having established an exclusive license agreement with Canopy Growth Corporation for their entire pharmaceutical cannabinoid derivative library, OCTP now has a portfolio of almost five hundred derivatives and intellectual property rights including fourteen patent families and associated research data.
OCTP has a clearly defined path to commercialisation, revenues and growth. The Group is developing drug candidates through clinical trials to gain regulatory approval (FDA/MHRA/EMA) that will enable medical professionals to prescribe them with confidence. OCTP's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities.