Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTC:OCTHF) CEO Clarissa Sowemimo Coker and CMO Dr Tim Corn speak to Thomas Warner from Proactive after the pharmaceutical group announced the appoint of Corn to its board of directors.
The move follows his appointment as Chief Medical Officer in June 2023. Sowemimo-Coker highlights the importance of having a clinician on the board of a biopharmaceutical company. The appointment follows the successful announcement of Phase I single ascending dose results in October, reflecting OCT's commitment to addressing unmet medical needs with novel therapeutic approaches.
Dr. Corn cites the combination of addressing unmet medical needs and the use of a novel cannabinoid approach as key factors that have attracted him to the business. He outlines his dual focus in the role, continuing as CMO to ensure efficient clinical programs aligned with regulatory requirements and bringing a physician's perspective to the board. He suggests that his expertise in clinical development and board work positions him well to balance patient interests and financial considerations.
Discussing the company's cash runway, Sowemimo-Coker says the company is funded into April 2024. She assures stakeholders that the board is actively exploring various funding options, and updates will be provided as progress unfolds. While the details remain confidential, she hints at potential updates before the end of the year.
The interview showcased OCT's commitment to advancing cannabinoid-based therapies, building a strong leadership team, and maintaining transparency in financial matters. Stakeholders are eagerly anticipating further developments as OCT continues its journey towards clinical and financial success.
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