Oxford Cannabinoid Technologies has signed a worldwide exclusive licence agreement with Canopy Growth Corporation to access Canopy’s cannabinoid derivative library.
The agreement will give Oxford Cannabinoid Technologies Holdings plc (OCTP), the holding company of Oxford Cannabinoid Technologies Ltd (OCT), access to Canopy Growth’s entire cannabinoid derivative library, including 335 derivatives of CBD, THC and CBG, intellectual property rights including 14 patent families and associated product research and development.
The agreement will see OCT develop and commercialise at least one CBD derivative; at least one CBG derivative; and at least one THC derivative, as pharmaceutical drug products, and will also give the company responsibility for the manufacture and supply of the compounds for development and commercialisation.
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OCTP Chief Executive, Dr John Lucas, commented: “Acquiring an exclusive licence to Canopy Growth’s pharmaceutical cannabinoid derivative library is a significant achievement for the Group and speaks volumes about our international reputation within our market.
“Not only does the Canopy Library provide us with over 330 “new” compounds that we can put to immediate use in our screens, we will also have an exclusive license to 14 patent families covering a wide-range of cannabinoid derivatives.
“We believe this will increase the probability of a favourable outcome from Programmes 3 and 4 and accelerate the timeframe to clinical trials. Importantly, the library offers the opportunity to develop additional drug development programmes that should expand our drug development pipeline.”
The Oxford Cannabinoid Group currently has four drug development programmes running in parallel, with its first and most advanced programme OCT461201, initially targeting indications in neuropathic and visceral pain. For this programme, Phase 1 clinical trials are scheduled for Q3 2022 with Phase 2 trials expected in Q2 2023.
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The second programme uses inhaled phytocannabinoids to target an undisclosed orphan pain condition, with Phase 1 trials also scheduled for Q3 2022 and Phase 2 expected in Q2 2023.
Canopy Growth and OCT will establish a Development Steering Committee (“DSC”) to monitor the progress of the development and commercialisation activities OCT is undertaking in relation to the Canopy Library. The principal objective of Programme 3 is to identify drug candidates for neuropathic pain conditions, and for Programme 4 to develop a “first-in-class” drug candidate that is expected to have use across multiple therapeutic areas including pain, neurology, immuno-inflammation and oncology.
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