UK biotech backed by Snoop Dogg to ditch London

A British biotech start-up backed by US rapper Snoop Dogg has unveiled plans to ditch the “turbulent” London stock market.

Oxford Cannabinoid Technologies said it was delisting from London following a “continuous, irrational and regressive pressure” on its share price.

The company, which joined the market in 2021, claimed it would be much better valued as a private company and would also not have to bear the “substantial cost” of maintaining a public listing.