Oxford Cannabinoid Technologies Holdings PLC - Oxford-based pharmaceutical company developing prescription cannabinoid medicines - Files European patent application in its own name directed to Programme 2. Application is directed to a composition containing Delta-9-tetrahydrocannabinol or THC, and Cannabidiol or CBD. Patent will give company exclusive rights to use, produce and sell this composition most likely for up to two decades, allowing it to recoup its Research & Development investment and gain a competitive market advantage. Notes however that grant process could take up to five years. Company expects to file multiple other Programme 2 applications this year, followed by an international patent application next year.

General Counsel & Company Secretary Rob Bennett says: "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."

Current stock price: 0.75 pence, up 11% on Wednesday around midday

12-month change: down 26%

By Emma Curzon, Alliance News reporter

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