OXFORD Cannabinoid Technologies Holdings plc (LSE: OCTP, OTCQB: OCTHF), the pharmaceutical company developing prescription cannabinoid medicines targeting the US$ multi-billion pain market is pleased to announce positive results from a pre-clinical pain study for its lead compound, OCT461201, targeting the global Chemotherapy Induced Peripheral Neuropathy (“CIPN”) treatment market valued at US$1.61bn in 2020 and forecasted to reach US$2.37bn by the year 2027.
CIPN is a peripheral neuropathy resulting from the neurotoxic effects of common chemotherapeutic drugs. The hallmarks of CIPN are pain, numbness and tingling in the extremities. On average, an estimated 60 per cent. of people undergoing chemotherapy are affected by CIPN at 3 months. CIPN can be progressive and enduring, leading to years of debilitation and suffering.
The results from OCTP’s recent study show that OCT461201 successfully reduces pain in a pre-clinical animal model of CIPN induced by paclitaxel, a widely used chemotherapy agent. Two common symptoms of CIPN are pain caused by innocuous stimuli, like light touch (mechanical allodynia) and heat or cold (thermal hyperalgesia). In the study, OCT461201 significantly reduced pain from both mechanical allodynia and thermal hyperalgesia compared to untreated animals.
Globally, there is an urgent need for new therapies to treat CIPN as there are currently no approved therapies for this condition. The current standard of care is the off-label use of gabapentinoids (gabapentin and pregabalin) and antidepressants (e.g. duloxetine), drugs associated with serious side effects. Furthermore, in some cases their overall clinical effectiveness is inadequate, leaving cancer patients in pain, with a reduced quality of life and the prospect of having to change or stop their chemotherapy altogether.
Commenting on the results of the experiment, OCTP Chief Executive John Lucas said:
“To obtain such a positive result in this study is significant and provides further evidence that OCT461201 could be an effective therapy in the treatment of CIPN in cancer patients. Based on previously completed pre-clinical safety experiments, the Directors believe the administered dose of OCT461201 could have been increased by over three times. The results of this study demonstrate the opportunities open to OCT461201 in treating a major and common side effect experienced by so many cancer patients and we are more excited than ever to be starting phase 1 clinical trials early next year. These latest results reaffirm the potential of OCT461201 across multiple indications.”