Oxford Cannabinoid Technologies Holdings plc announced 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 and Cannabidiol. 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.