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Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP) , is pleased to announce that on 21 September 2021 it signed an exclusive licensing agreement with Canopy Growth Corporation - a world-leading diversified cannabis and cannabinoid-based consumer product company and Tweed Inc, a wholly owned subsidiary of Canopy Growth.

The terms of the Agreement provide OCT with an exclusive worldwide licence to the entire cannabinoid derivative library, including 335 derivatives of cannabidiol (CBD), tetrahydrocannabinol (THC) and cannabigerol (CBG), intellectual property rights including 14 patent families and associated product research and development ("Canopy Library"). In return, OCT will pay Canopy Growth an annual license fee plus additional payments based on developmental, regulatory and sales milestones and royalties on future sales. The contract research group will provide support for OCT’s drug development efforts, starting with programmes three and four, targeting pain, neurology and inflammation.

Read the full press release here.

Date posted: 22 September 2021
Article tag: Oxford Cannabinoid Technologies

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