LONDON, UK: Oxford Cannabinoid Technologies Holdings plc (OCTP), a leading pharmaceutical company in the field of cannabinoid medicines, has revealed a promising new drug candidate for the treatment of solid tumours.
The drug, which is derived from OCTP’s proprietary library of cannabinoid compounds, has shown remarkable potency and selectivity in targeting a key immune checkpoint that is exploited by cancer cells to evade the body’s natural defences.
The drug also has favourable pharmacokinetic properties, meaning it can be easily absorbed and distributed in the body. This could enable the development of a convenient oral formulation that patients can take at home, unlike many existing immunotherapies that require injections or infusions at specialised centres.
OCTP’s CEO, Clarissa Sowemimo-Coker, said: “We are thrilled to announce this major milestone in our oncology programme. Our drug candidate has the potential to be a game-changer in the treatment of solid tumours, offering a more effective, less toxic and more accessible option than current therapies. We believe this is a testament to the power and versatility of cannabinoid-based medicines, which can address unmet medical needs across a range of indications.”
OCTP plans to conduct further preclinical studies to confirm the safety and efficacy of its drug candidate, before moving to clinical trials in 2024. The company hopes to capture a significant share of the rapidly growing immunotherapy market, which is expected to reach US$532 billion by 2032.
OCTP is a UK-based biopharmaceutical company that specialises in developing novel cannabinoid medicines for pain and oncology. The company has an exclusive licence agreement with Canopy Growth Corporation, the world’s largest cannabis producer, to access its extensive library of cannabinoid derivatives. OCTP has four active programmes in various stages of development, targeting chronic pain, neuropathic pain, chemotherapy-induced nausea and vomiting, and solid tumours.
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