Skip to content 
Search

Latest Stories

Cannabis-based pain treatment firm Oxford Cannabinoid Technologies to list in London

A cannabis-based pain treatment company, controlled by Neil Mahapatra and Gavin Sathianathan, will start trading on the London Stock Exchange on Friday (21).

Oxford Cannabinoid Technologies (OCT), backed by Snoop Dogg and Imperial Brands, raised £16.5 million in a placing that values the company at about £50 million recently, reported The Times.


After the listing, almost 21 per cent of the company will be owned by Kingsley Capital Partners, controlled by Mahapatra, OCT’s co-founder and executive chairman, and eight per cent by Sathianathan, is co-founder, and his wife, the report added.

Imperial Brands will have a holding of almost 11 per cent, while Casa Verde will own just over two per cent. Snoop Dogg, a partner with Casa Verde, had an investment of $10m in the company.

Bishrut Mukherjee and Karan Dharam Wadhera are directors in the firm.

The business was founded in 2017 to develop prescription medicines derived from cannabis and has a research partnership with Oxford University. Casa Verde, the cannabis-focused venture capital firm that counts Dogg, the rapper, among its partners, invested $10m in 2018. Imperial Brands, the tobacco group, invested in the same funding round, The Times report added.

Cairn Financial Advisers and States Bridge Capital are advising on the listing, which will be a standard rather than a premium listing, the report said.

The company said that it aimed to commercialise its first drug by 2027 and intended to 'develop a portfolio of four drug candidates for approval as licensed pain medicines'. It estimated that the 'addressable pain market' was worth at least £42.5 billion globally.

OCT’s leading drug candidate — OCT461201 — is being developed as a solid oral medicine that is in pre-clinical testing. It aims to carry out early stage clinical trials to treat irritable bowel syndrome and post-herpetic neuralgia, a complication of shingles, The Times report added.

In February GW Pharmaceuticals, the British company that was the first to secure regulatory approval for a cannabis-based treatment in America, was bought for $7.2 billion by Jazz, a larger rival.

It developed Epidiolex, a treatment for epilepsy using cannabidiol, a part of the plant that does not make you high, and had sales of more than $500m of the drug last year.

More For You

Air India partially restores international flights after crash

FILE PHOTO: Passengers gather in front of the ticket counter of Air India airlines in Delhi, India, June 13, 2025. REUTERS/Bhawika Chhabra.

Air India partially restores international flights after crash

AIR INDIA said on Tuesday (15) it would partially restore its international flight schedule that was scaled back following the crash involving its flight last month that killed 260 people.

As part of the restoration, Air India will start a thrice-weekly service between Ahmedabad and London Heathrow from August 1 to September 30, replacing the currently operating five-times-a-week flights between Ahmedabad and London Gatwick.

Keep ReadingShow less
tesla-fadnavis-mumbai

The showroom, located in Mumbai, was inaugurated by Maharashtra state's chief minister Devendra Fadnavis and opened to select visitors on Tuesday. (Photo: X/@Dev_Fadnavis)

X/@Dev_Fadnavis

Tesla makes India debut with Mumbai showroom

TESLA opened its first showroom in India on Tuesday, marking its entry into the country as the electric vehicle company looks for new customers amid declining sales in the United States and Europe.

The showroom, located in Mumbai, was inaugurated by Maharashtra state's chief minister Devendra Fadnavis and opened to select visitors on Tuesday. It will be open to the general public starting Wednesday.

Keep ReadingShow less
Tata-Steel

he Port Talbot EAF will produce up to 3 million tonnes of steel per year using UK-sourced scrap.

getty images

Tata Group begins construction of new Electric Arc Furnace in Port Talbot

TATA STEEL UK has started construction of a new Electric Arc Furnace (EAF) at its Port Talbot site in South Wales. Tata Group chairman Natarajan Chandrasekaran marked the groundbreaking ceremony on July 14, joined by Tata Steel CEO and managing director TV Narendran and Tata Steel UK CEO Rajesh Nair.

The EAF project is part of Tata Steel UK’s £1.25 billion plan to transition to low-carbon steelmaking, backed by £500 million from the UK government. The furnace is expected to be commissioned by the end of 2027 and aims to reduce carbon emissions at Port Talbot by about 90 per cent, or 5 million tonnes of CO₂ annually. The project is expected to support 5,000 jobs.

Keep ReadingShow less
Labour’s non-dom tax changes may cost £4bn, experts warn

Starmer and Reeves during a visit to Horiba Mira in Nuneaton in Nuneaton. (Photo: Getty Images)

Labour’s non-dom tax changes may cost £4bn, experts warn

PLANS by Labour to overhaul the tax rules for non-domiciled residents in the UK could cost the public purse up to £4 billion and result in the loss of thousands of private sector jobs, according to a new analysis.

A report by the Centre for Economics and Business Research (CEBR), shared with The Times, suggested that scrapping the current non-dom regime could lead to a sharp drop in tax revenues if even a fraction of those affected decide to leave the country.

Keep ReadingShow less
Tesla set to open first showroom in India

Elon Musk and Narendra Modi (right)

Tesla set to open first showroom in India

US CARMAKER Tesla is finally making its official debut in India with the opening of its first showroom in Mumbai.

The firm, led by Elon Musk, will unveil the new “Tesla Experience Centre” on Tuesday (15) at Maker Maxity Mall in the Bandra Kurla Complex, one of the city's top commercial hubs.

Keep ReadingShow less