Supporting research

Imperial Brands Ventures, a subsidiary of Imperial Brands, said on Thursday that it had 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,’ Imperial Brands said in a note on its website.

‘Its activities are licensed for operation by the UK Home Office.’

Matthew Phillips, Imperial Brands’ chief development officer, was quoted as saying that Imperial was 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.”