- The presentation highlighted the company’s INM-088 cannabinol topical eye drop to treat glaucoma
- InMed’s IntegraSyn is being used to help the company develop synthetic bioidentical rare cannabinoids in the lab, as most are only found in trace amounts in cannabis plants
- In addition to INM-088 for glaucoma, the company is currently working on CBN-based INM-755 to treat a rare genetic skin disorder called epidermolysis bullosa and is awaiting the answer to Phase II trial applications in various countries
Dedicated to delivering new therapeutic alternatives as a treatment for conditions with a high unmet medical need, InMed Pharmaceuticals (NASDAQ: INM) is leading the way as a clinical-stage company developing treatment alternatives using rare pharmaceutical-grade cannabinoids. The company’s operations and programs, in particular its ocular program, were the focus of a presentation given by InMed’s President and CEO Eric A. Adams and Senior Vice President of Pre-Clinical Research and Development Dr. Eric Hsu at the H.C. Wainwright Ophthalmology Virtual Conference on August 17, 2021 (https://cnw.fm/TbQ8f).
In the presentation, Adams and Dr. Hsu gave an overview of InMed’s ocular program, consisting of INM-088, a topical eye drop under development for the treatment of glaucoma using cannabinol (“CBN”). This cannabinoid is showing promise for potential neuroprotection and the reduction of intraocular pressure within the eye.
There are over 100 rare cannabinoids that are found in only trace amounts in cannabis. Together, these rare cannabinoids only make up about 1% of the plant’s total biomass – but they are not without their benefits. InMed is currently focused on one cannabinoid, CBN, to meet the unmet needs for medicinal therapeutics for various conditions. The preclinical studies on CBN have shown a promising safety profile and potential therapeutic benefits that exceed tetrahydrocannabinol (“THC”) and cannabidiol (“CBD”).
In addition to INM-088, InMed is currently developing INM-755, a CBN topical cream geared toward treating epidermolysis bullosa, a genetic skin disorder. INM-755 has been evaluated in two Phase I clinical trials of healthy volunteers to date. The Company has also filed Clinical Trial Applications in several countries as a part of Phase II clinical trials for the same indication.
With the availability of rare cannabinoids in the cannabis plant, it is economically impractical for InMed to try and rely solely on the plant as a primary source of these cannabinoids. The Company is developing IntegraSyn, a cannabinoid synthesis manufacturing system, to create these rare cannabinoids in a laboratory setting. The cannabinoids developed in the laboratory setting are bioidentical to the compounds extracted from the natural source.
InMed is also focused on the development of proprietary manufacturing technology to produce rare cannabinoids in the lab and already has a on file to acquire a leading cannabinoid manufacturer.
In late June, InMed entered a non-binding Letter of Intent (“LOI”) to acquire BayMedica Inc., a private company based in Nevada and California that specializes in the manufacturing and commercialization of rare cannabinoids. BayMedica is a revenue-stage biotech company producing high-quality, regulatory compliant rare cannabinoids, including cannabichromene (“CBC”), and providing them as a B2B supplier to distributors and manufacturers.
With a focus on rare cannabinoids and their development in a laboratory setting, InMed is strongly positioned for a prominent role on the U.S. cannabinoid market, a sector valued at $2.3 billion in 2019 and anticipated to grow at a CAGR of 20.4%, resulting in a revenue forecast of $16.4 billion in 2027 (https://cnw.fm/uOehD). Much of this growth can be attributed to the increasing number of medical practitioners prescribing cannabinoids for health-related issues.
For more information, visit the company’s website at www.InMedPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM
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