Imperial Brands Ventures Ltd, a subsidiary of Imperial Brands PLC, today announces that it has taken an equity stake in Oxford Cannabinoid Technologies (OCT).
OCT is a biopharmaceutical company focused on researching, developing, and licensing cannabinoid-based compounds and therapies. Its activities are licensed for operation by the UK Home Office.
Matthew Phillips, Chief Development Officer, Imperial Brands PLC said: “We are pleased to be partnering with OCT. Cannabinoid products have significant potential and our investment enables Imperial to support OCT’s important research while building a deeper understanding of the medical cannabis market.”
ENDS
Notes to editors
Imperial Brands is a dynamic fast moving consumer goods company borne out of a strong tobacco heritage. We have continually evolved to embrace changing market dynamics and are increasingly focusing our attention on developing and expanding our portfolio of Next Generation Products.
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