InMed Pharmaceuticals (NASDAQ: INM) recently announced it had signed a definitive agreement to acquire 100% of BayMedica Inc., a U.S.-based private company specializing in the manufacture and commercialization of rare cannabinoids. InMed CEO Eric A. Adams described the acquisition as a transformative transaction for the company as it would give InMed a breadth of synthetic cannabinoid manufacturing capabilities. “BayMedica brings unparalleled cannabinoid manufacturing expertise in both chemical synthesis and biosynthesis together with industry veterans who have been pioneers in this space,” a recent article quotes Adams as saying. The article further notes that, once closed, the transaction will create a powerful combination. “It will make InMed a global leader in the manufacture of rare cannabinoids, with expertise in three distinct and complementary cannabinoid manufacturing approaches… At the same time, the combined company will continue to explore the therapeutic potential of cannabinoids and novel cannabinoid analogs for pharmaceutical drug development. It will also increase commercial sales of rare cannabinoids to the consumer health and wellness sector.”
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About InMed Pharmaceuticals Inc.
InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (“CBN”), in diseases with high unmet medical need. The company is dedicated to delivering new therapeutic alternatives to patients who may benefit from cannabinoid-based medicines. For more information, please visit www.InMedPharma.com.
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