Oxford Cannabinoid Technologies, the pharmaceutical company developing cannabinoid-based prescription medicines, has announced plans to list on the London Stock Exchange later this week.
Founded in 2017, OCT plans to use the proceeds from the initial public offering to develop a portfolio of four drug candidates for approval as licensed pain medicines in the U.S., U.K. and European Union, with the first commercial sales expected in 2027. It said that the pain market it is targeting, which includes neuropathic, visceral, lower back and cancer pain, is estimated to be worth more than £42 billion globally.
However, unlike GW, which manufactures drugs from cannabis plants, OCT will chemically synthesize its drug compounds, which include phytocannabinoids, cannabinoid derivatives and completely new chemical entities, Lucas said in an interview with MarketWatch. OCT owns a library of 93 cannabinoid derivatives that are an additional source of further drug compounds for development, he added.
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SnoopDogg cannabinoid cbd lse cannabis octp $octp pharma ms_melissak thedaily_trade OxCanTech 🚀🚀🚀
It listed on Friday ~ OCTP OxCanTech
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