Oxford Cannabinoid Technologies is shedding its old skin. Having delisted its stock last year, the biotech is rebranding as Octavian Therapeutics to align with its “growth ambitions and its transition to a privately held company.”
The British drug developer began trading in London in 2021, pulling off a rare biotech listing in the city but struggled to secure sustained support for its R&D ambitions. By May 2024, the biotech had signaled its intent to go private amid “particularly challenging times” for U.K. capital markets. The delisting took place in June, and Oxford Cannabinoid began assessing its next steps out of the glare of public markets.
Details of the biotech’s new direction emerged Tuesday. Oxford Cannabinoid has rebranded as Octavian, a name that recalls the first Roman emperor and, in the biotech’s words, “underscores its commitment to pioneering life-changing treatments for patients with debilitating conditions.”
The new name is reminiscent of some existing brands in and around the biotech space. Adding an R gives Roctavian, the name of BioMarin’s commercially underwhelming hemophilia A gene therapy. There is also Octavian AG, a Swiss brokerage service that has worked with biotechs such as ADC Therapeutics and Idorsia.
Under its new name, Octavian will advance a cannabinoid receptor type 2 agonist in diabetic peripheral neuropathy, chemotherapy-induced peripheral neuropathy and irritable bowel syndrome. The molecule, which was Oxford Cannabinoid’s lead candidate when the company went public, completed a phase 1 study in 2023.
Octavian plans to build on the phase 1 data by raising 10 million pounds ($12 million) to fund further development. The biotech is looking to the more fertile financing fields across the Atlantic to support its R&D plans, engaging WaterSeid Partners as U.S. investor relations advisors and participating in stateside biotech events.