Oxford Cannabinoid Technologies Holdings announces £16.5m fundraise and admission to LSE

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Oxford Cannabinoid Technologies Holdings plc, the holding company of Oxford Cannabinoid Technologies Ltd, a UK pharmaceutical company focussed on developing a portfolio of cannabinoid-based prescription medicines, approved by medicines regulatory agencies which target the pain market, has announced a £16.5m fundraise.

The firm also revealed its admission to the standard segment of the Official List and to trading on the London Stock Exchange Group plc’s Main Market for listed securities.

Commenting on developments since Admission, Dr John Lucas, OCTP’s Chief Executive Officer, said: “I am delighted with the Company’s progress across all fronts. The Board agrees that we are off to a great operational start as a public company with the two partnership agreements signed recently, and we remain firmly on schedule to deliver the drug development timeline set out in our prospectus dated 17 May 2021. The Group will continue to develop its drug pipeline and its proprietary, unique library of cannabinoid derivative compounds. Furthermore, we have visibility over a number of exciting developments and a clear path to growth. By utilising a range of inputs, the Group is creating a drug development portfolio that is intended to maximise the therapeutic potential of cannabinoids, long-term market value and market exclusivity across its activities.”