08 June 2023

Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

Appointment of Chief Medical Officer

OCTP is pleased to announce the appointment of Dr Tim Corn as the Company's new Chief Medical Officer ("CMO") effective immediately.

Dr Corn is an independent pharmaceuticals consultant who has held senior positions in both large and small pharma organisations.  He is currently CMO at Nodenza Inc and Medical Adviser to Confo Therapeutics SA, which recently announced a global licensing deal with Eli Lilly and Company for the clinical stage peripheral pain candidate CFTX-1554 and back-up compounds. He also serves as a non-executive director on the Board of Physiomics plc.

He was formerly Chief Medical Officer International at Jazz Pharmaceuticals plc and CMO at venture-backed companies EUSA Pharma Inc, acquired by Jazz Pharmaceuticals plc in 2012, and Zeneus Pharma Ltd, acquired by Cephalon Inc in 2005. Dr Corn has also played a key role in the successful conclusion of more than twenty regulatory approvals in the US and Europe and is the author of more than forty scientific publications. He was elected a Fellow of both the Faculty of Pharmaceutical Medicine and the Royal College of Psychiatrists.

Dr Corn will oversee the Company's clinical research and development activities as well as providing expert medical guidance and advice to the team.

Commenting on Dr Corn's appointment, Clarissa Sowemimo-Coker, Chief Executive Officer of OCTP, said: "We are delighted to welcome Tim to OCTP as Chief Medical Officer, a new position within the Group, highlighting yet another step change at OCTP, as we further strengthen the senior team. Tim's knowledge of the regulatory environment and experience as a CMO make him a perfect fit for this key role as we move forward through clinical trials towards commercialisation.

"Having already established a Scientific Advisory Board last year, demonstrating our commitment to growing a "best-in-class" network of scientific, academic and commercial partners, we believe that as a highly experienced and well-respected medical professional, Tim will provide further validation of our vision."

The Directors of the Company accept responsibility for the content of this announcement.

About Oxford Cannabinoid Technologies Holdings Plc:

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company of Oxford Cannabinoid Technologies Ltd (together the "Group"), a pharmaceutical Group developing prescription cannabinoid medicines targeting the U$ multi-billion global pain market.

OCTP currently has a portfolio of four drug development programmes. Its lead compound, OCT461201, will initially target neuropathic and visceral pain (including irritable bowel syndrome ("IBS") and chemotherapy induced peripheral neuropathy ("CIPN")), with Phase I clinical trials, aimed at demonstrating safety and tolerability. Trial results are expected in Q3 2023.  The global market for CIPN alone is currently valued at US$1.61bn and is forecast to reach US$2.37bn by the year 2027.

OCTP's drug development pipeline comprises both natural and synthetic compounds, and includes compounds targeting trigeminal neuralgia, a severe type of face pain, and cannabinoid derivatives targeting pain and potentially other therapeutic areas. Having established an exclusive license agreement with Canopy Growth Corporation for their entire pharmaceutical cannabinoid derivative library, OCTP now has a portfolio of almost five hundred derivatives and intellectual property rights including fourteen patent families and associated research data.

OCTP 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. OCTP's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities.