Oxford Cannabinoid Technologies

About Oxford Cannabinoid Technologies

Oxford Cannabinoid Technologies (OCT) is a biopharmaceutical company founded in 2017 by Neil Mahapatra and Gavin Sathianathan. The company focuses on developing prescription medicines that target the endocannabinoid system (ECS) to treat chronic pain and other conditions, aiming to provide alternatives to opioids. OCT operates on a pre-revenue, milestone-driven business model, advancing its drug programs through clinical development to generate value. The company's strategy includes developing new chemical entities, in-licensing compounds to speed up development, and utilizing a proprietary library of cannabinoid derivatives. Revenue is anticipated upon the successful commercialization of its drug candidates.

The co-founder, Neil Mahapatra, has a background in healthcare investment banking at Morgan Stanley and private equity at J. Rothschild Capital Management. He holds a BA in Biological Sciences from Oxford University and an MBA from Harvard Business School. Co-founder Gavin Sathianathan has experience at the intersection of technology and data with companies like Facebook and Tesco, and also holds degrees from Imperial College and Harvard Business School. The current CEO is Clarissa Sowemimo-Coker, who joined the company in 2018 and has a background as a solicitor and commercial consultant.

OCT's main product in development is OCT461201, a selective CB2 agonist intended for neuropathic pain associated with chemotherapy (CIPN) and visceral pain in irritable bowel syndrome (IBS). The company successfully completed a Phase I single ascending dose trial for OCT461201, which showed no safety or tolerability concerns. Another key asset is OCT130401, an inhaled phytocannabinoid drug/device combination being developed for trigeminal neuralgia (TN). In September 2021, OCT signed an exclusive licensing agreement with Canopy Growth Corporation, gaining access to a library of 335 cannabinoid derivatives to expand its research and development pipeline. The company has also explored oncology, identifying a potential immunotherapy agent for solid tumors. However, it was reported in May 2025 that the company had appointed administrators, facing financial challenges amidst a difficult biotech market.