Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, FRA:0CB) (OCT) chief executive, Dr John Lucas, hailed as a “significant achievement” a licensing deal with Canopy Growth, one of the world’s largest cannabis companies.
Under the agreement, OCT has exclusive access to Canopy’s entire cannabinoid derivative library.
This includes 335 derivatives of cannabidiol (CBD), tetrahydrocannabinol (THC) and cannabigerol (CBG) and intellectual property rights, including 14 patent families and “associated product research and development”.
OCT, which is developing licensed prescription cannabis medicines, has said it will develop and commercialise a product from each of the three cannabinoid categories.
The company currently has four drug programmes. The most advanced, for pain management, is currently undergoing phase I trials.
"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,” said CEO Lucas.