Oxford Cannabinoid Tech.Holdings Board Changes (0517A)
January 31 2022 - 01:59AM
UK Regulatory
TIDMOCTP
RNS Number : 0517A
Oxford Cannabinoid Tech.Holdings
31 January 2022
Oxford Cannabinoid Technologies Holdings plc
("OCTP" or "the Company")
Board Changes
Oxford Cannabinoid Technologies Holdings plc, the pharmaceutical
company developing prescription cannabinoid medicines for approval
by global regulatory agencies and targeting the US$ multi-billion
pain market, announces the following Board changes.
Richard Guy Hathaway has been appointed to the Board as a
Non-Executive Director, as a representative of Imperial Brands
Ventures Limited ("Imperial"), with effect from 1 February 2022.
With agreement of OCTP, Imperial, a 10.87 per cent. shareholder of
OCTP, nominated Mr Hathaway as its representative following the
resignation of Bishrut Mukherjee from Imperial in September 2021.
As announced on 18 January 2022, Bishrut Mukherjee remains on the
Board of OCTP in his capacity as Non-Executive Director.
Mr Hathaway is the Corporate Development Director at Imperial
Brands plc, the ultimate holding company of Imperial where he is
responsible for leading M&A activity and other strategic
initiatives and projects across the business. Prior to joining
Imperial, he was a partner at KPMG LLP where he gained extensive
experience of auditing and advising public and private companies
across a wide range of sectors, including transactions such as
financing and restructuring, acquisitions and disposals. He is a
fellow of the ICAEW and holds an MA in Mathematics from the
University of Oxford.
Further to the announcement of 5 November 2021, Julie Pomeroy,
currently an independent Non-Executive Director, will assume the
role of Non-Executive Chair with effect from 11 February 2022, at
which time the current Executive Chairman, Mr Neil Mahapatra will
step down but remain on the Board as a Non-Executive Director.
Commenting on the Board changes, OCTP Chief Executive John Lucas
said:
"We are delighted to welcome Richard Hathaway to the Board as
our new Non-Executive Director, where his own extensive financial
and corporate experience will be of great benefit to the
Company.
"The Board is very grateful to Julie for agreeing to step up to
the role of Company Chair. Her PLC experience both in an executive
and non-executive capacity will be invaluable as the business
enters a key stage in its development, preparing to move into phase
1 clinical trials for our lead candidate OCT461201 and our inhaled
cannabinoids programme, OCT130401, in Q1 2023 and Q4 2022,
respectively. At the same time, we thank Neil as incumbent Chair,
for his knowledge and guidance and look forward to continuing to
work with him in his capacity as Non-Executive Director."
Disclosures regarding Richard Hathaway
Richard Hathaway, aged 55, has been a member of the
administrative, management or supervisory bodies or partners of the
following companies or partnerships within the last five years:
Active positions:
- Global Horizon Ventures Ltd
- Imperial Brands Ventures Holdings Ltd
- 1213509 B.C. Ltd
- Imperial Brands Ventures Limited
- Reemtsma-Kyrgyzstan OJSC
- Compañia de Distribucion Integral Logista Holdings SA
Richard does not currently hold any shares in OCTP.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
The Directors of the Company accept responsibility for the
content of this announcement.
Enquiries:
Oxford Cannabinoid Technologies +44 (0)20 3034 2820
Holdings plc john@oxcantech.com
Dr John Lucas (CEO) clarissa@oxcantech.com
Clarissa Sowemimo-Coker (COO)
Cairn Financial Advisers
Emily Staples +44 (0)20 7213 0897
Jo Turner +44 (0) 20 7213 0885
Walbrook PR Limited +44 (0)20 7933 8780
Paul Vann +44 (0)7768 807631
Nicholas Johnson oxcantech@walbrookpr.com
Harbor Access LLC +1 (203) 862 0492
Jonathan Paterson Richard.Leighton@harboraccessllc.com
Richard Leighton
About Oxford Cannabinoid Technologies Holdings Plc :
Oxford Cannabinoid Technologies Holdings plc is the holding
company of Oxford Cannabinoid Technologies Ltd, a pharmaceutical
company developing prescription cannabinoid medicines for approval
by key medicines regulatory agencies worldwide and targeting the U$
multi-billion pain market (together the "Group"). Cannabinoids are
compounds found in the cannabis plant that have been shown to have
a range of therapeutic effects on the body, including pain relief.
The Group has a clearly defined path to commercialisation, revenues
and growth. The Group is developing drug candidates through
clinical trials to gain regulatory approval (FDA/MHRA/EMA) that
will enable medical professionals to prescribe them with
confidence.
The Group's portfolio aims to balance risk, value and time to
market, whilst ensuring market exclusivity around all its key
activities. The Group's lead compound, OCT461201, is a highly
potent and selective CB2 agonist and is being developed by OCT in a
solid oral dosage form. OCT is conducting pre-clinical testing and
development with clinical trials scheduled for Q1 2023. The Group's
product pipeline also uses a balanced drug product strategy that
employs both natural and synthetic compounds for the treatment of
rare diseases and includes chemically modified phytocannabinoids
with improved drug-like characteristics and a proprietary library
of cannabinoids.
OCTP operates a partnership model with external academic and
commercial partners.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAUWUWRUBUAUAR
(END) Dow Jones Newswires
January 31, 2022 01:59 ET (06:59 GMT)
Oxford Cannabinoid Techn... (LSE:OCTP)
Historical Stock Chart
From Feb 2024 to Mar 2024
Oxford Cannabinoid Techn... (LSE:OCTP)
Historical Stock Chart
From Mar 2023 to Mar 2024