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Oxford Cannabinoid Technologies Holdings plc

("OCTP" or the "Company")

Patent Applications

Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP), the biotech company developing prescription cannabinoid medicines, is pleased to announce that it has filed a European application in its own name, directed to Programme 2. This programme initially targets Trigeminal Neuralgia ("TN"), and the patent application filed by the Company is directed to a composition containing Delta-9-tetrahydrocannabinol ("THC") and Cannabidiol ("CBD"). The Company intends to file an international ("PCT") patent application based on this European application within the next year.

Once the patent is granted, OCTP will benefit from exclusive rights to the use, production, and sale of the composition claimed in the patent, typically for a period of up to 20 years from the filing date. This protection potentially allows OCTP to recoup its investment in R&D and secure a competitive market advantage. Patent application examination times can vary, but grant of the patent can typically be expected in 2 to 5 years from the filing date of the patent application. The precise timing will depend on the examination process at the patent office and any objections or oppositions that may arise. The Company expects to file several other patent applications directed to other aspects of Programme 2 during 2024.

Rob Bennett, General Counsel and Company Secretary of OCTP, said:

"At OCTP, we are sharply focused on the importance of intellectual property and patents in safeguarding our research and development and protecting the interests of our shareholders. Today's announcement is testimony to our ongoing research and development strategy and our commitment to generating new intellectual property as a pathway to commercialisation. This European patent application further embeds our progress in relation to Programme 2's potential, which initially targets Trigeminal Neuralgia."

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.

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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 initially targeting the US$ 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"). The global market for CIPN alone is currently forecast to reach US$1.17bn by 2028.

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 licence 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.