Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP), the pharmaceutical company developing prescription cannabinoid medicines, is pleased to announce that dosing of all the cohorts of the Phase I, single ascending dose study for OCT461201 has been successfully completed. No safety or tolerability concerns were exhibited with any dose tested. As a result, OCTP is satisfied that it is safe to proceed to the next stage of clinical development of its lead compound OCT461201.
The trial was conducted in the UK in healthy volunteers by Simbec Research Limited, part of Simbec-Orion Group Ltd, using a single ascending dose protocol. The final dose was administered on 20 September 2023, followed by formal review of final clinical data on 2 October 2023. The trial’s primary objective was to demonstrate the safety and tolerability of OCT461201, whilst also providing important information on its pharmacokinetic profile.
Clarissa Sowemimo-Coker, Chief Executive of OCTP, said:
“I am delighted to announce the completion of our Phase I, single ascending dose study of our lead drug candidate, OCT461201. This is a significant milestone in OCTP’s journey as we cement our transition into a clinical-stage business. Today’s announcement represents the culmination of many years of hard work by our team, in particular from our Chief Scientific Officer, Dr Valentino Parravicini, and Chief Medical Officer, Dr Tim Corn, whose diligence and expertise have brought us to this point fewer than 30 months since flotation. We look forward to moving OCT461201 into the next phases of its development”.
Dr Tim Corn, Chief Medical Officer of OCTP, said:
“This announcement marks an important milestone in the clinical development of OCT461201. We are very pleased to have completed this stage in the development of our lead candidate. To have reached this point within this timeframe is a noteworthy achievement and one which we are well positioned to build upon.”
