(Alliance News) - Oxford Cannabinoid Technologies Holdings PLC on Monday said the final dose of its lead pharmaceutical drug compound, OCT461201, has been successfully administered.

Oxford Cannabinoid, a pharmaceutical company developing prescription cannabinoid medicines, said the final dose, which was administered on Wednesday last week, is part of its Phase I clinical trial.

The trial is being conducted in the UK in health volunteers by Simbec Research Ltd, using a single ascending dose protocol.

Oxford Cannabinoid noted that no adverse drug effects have been observed.

"The trial's principal objective is to demonstrate the safety and tolerability of OCT461201, whilst also providing pivotal information on its pharmacokinetic profile, to confirm its value as a potential drug," it added.

Oxford Cannabinoid expects to report results by October 16.

Shares in Oxford Cannabinoid were up 1.1% to 0.99 pence each in London on Monday morning.

By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved