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InMed Pharmaceuticals Inc. (NASDAQ: INM) is a global leader in the development, manufacture and commercialization of rare cannabinoids
for pharmaceutical and consumer health and wellness applications. InMed is a clinical stage company developing a pipeline of cannabinoid-based pharmaceutical drug candidates, as well as manufacturing technologies for pharmaceutical-grade rare cannabinoids.
The company is dedicated to delivering new therapeutic alternatives to treat conditions with high unmet medical needs. The company is also developing a proprietary manufacturing technology to produce pharmaceutical-grade rare cannabinoids in the lab.
In October 2021, InMed announced its acquisition of BayMedica Inc., a private U.S. firm specializing in the manufacture and commercialization of rare cannabinoids for the health and wellness sector. BayMedica, now operating as a subsidiary of InMed, is a revenue-stage biotechnology firm leveraging its significant expertise in synthetic biology and pharmaceutical chemistry to develop efficient, scalable and proprietary manufacturing approaches to produce high quality, regulatory-compliant
rare cannabinoids for consumer applications.
Research and Technology
There are more than 100 rare cannabinoids found in only trace amounts in the cannabis plant, together making up less than 1% of the plant’s biomass. InMed is initially focused on the therapeutic benefits of cannabinol (CBN) in diseases with high unmet medical need. Preclinical studies of CBN demonstrated an excellent safety profile and showed CBN has potential for therapeutic benefit over other cannabinoids such as tetrahydrocannabinol (THC) and cannabidiol (CBD).
Evidence suggests there may be great therapeutic potential in rare cannabinoids. Each has a specific chemical structure, and different cannabinoids have been observed to have distinct physiological properties in humans, including therapeutic potential for specific diseases as well as unique safety profiles. CBN is the active pharmaceutical ingredient (API) in InMed’s two lead programs for dermatological and ocular diseases.
InMed’s most advanced compound, INM-755, is a CBN topical cream under clinical development for the treatment of epidermolysis bullosa (EB), a severe genetic skin disorder. To date, INM-755 has been evaluated in two Phase 1 clinical trials in healthy volunteers. A Phase 2 clinical trial in EB is currently underway, marking the first time that a CBN-based formulation has advanced to a Phase 2 clinical trial. The study is taking place at 13 sites across eight countries in Europe, with
patient screening and treatment currently ongoing.
InMed is also developing INM-088, an ocular CBN formulation being researched for the treatment of glaucoma, the second leading cause of blindness in the developed world. InMed is currently evaluating several formulations to deliver CBN into the eye to address issues of dosing frequency, side effects and treatment penetration. INM-088 is being designed for topical delivery to the eye. This localized delivery results in very little drug being absorbed or migrating into the bloodstream, thus
minimizing potential adverse side effects. INM-088 shows promise to reduce intraocular pressure and provide neuroprotection of the eye.
Manufacturing
The limited availability of rare cannabinoids like CBN makes them economically impractical to extract directly from the plant for pharmaceutical use. InMed is developing IntegraSyn, a cannabinoid synthesis manufacturing system to create rare cannabinoids in the lab that are bioidentical to the compounds derived from the cannabis plant. IntegraSyn uses multiple standard pharmaceutical processes and has achieved a cannabinoid yield of 5 grams per liter, surpassing commercial viability and
significantly exceeding currently reported industry yields. InMed is now focusing on manufacturing scale-up to larger batch sizes while continuing process optimization, targeting increased cannabinoid yield and further reducing overall cost of goods.
Commercialization
Through BayMedica, InMed commercializes rare cannabinoids cannabichromene (CBC) and cannabicitran (CBT) as a B2B supplier to distributors and manufacturers marketing products in the health and wellness sector. Additionally, commercial scale production of cannabidivarin (CBDV) is underway, with tetrahydrocannabivarin (THCV) production scheduled to commence in the near future. InMed expects to produce over 100kg of CBDV and THCV in the coming months to meet anticipated initial demand.
“We are delivering on our objective to launch additional rare cannabinoids in early 2022 in response to inbound demand,” Shane Johnson, SVP and General Manager of BayMedica, stated in a January news release. “By midyear, we expect to have at least four rare cannabinoids available for the health and wellness markets, positioning us as a leading large-scale supplier of high quality rare cannabinoids in these sectors.”
Investment Considerations
- InMed has a world class leadership team with a successful track record of drug development and commercialization.
- InMed has a solid and expanding intellectual property portfolio with multiple patents filed.
- The company recently acquired rare cannabinoids manufacturer BayMedica.
- InMed retains all commercial rights to its IntegraSyn manufacturing system.
- InMed has commenced a Phase 2 clinical trial of INM-755 (cannabinol) cream in epidermolysis bullosa.
- The consumer market for cannabinoid-based pharmaceuticals in the United States is forecast to grow to $25 billion by 2025 and to $50 billion by 2029.
Recent Coverage
InvestorNewsBreaks - InMed Pharmaceuticals Inc. (NASDAQ: INM) Enters into $6M Securities Purchase Agreement
September 12, 2022 8:30 AM
InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development and manufacturing of rare cannabinoids, has announced a private placement agreement with two healthcare-focused institutional investors. The agreement calls for the issuance and sale of 691,245 of INM common shares; the shares will be sold at a purchase price of $8.68 per share in a private placement priced according to Nasdaq guidelines. According to the announcement, InMed will also issue unregistered preferred
investment options that will allow investors in the offering to purchase more than 1.3 million common shares. The company noted that it anticipates gross proceeds from the placement, which is expected to close on or about Sept. 13, 2022, to reach some $6 million. The company plans to use the funds gathered from the offering to continue its focus on pipeline development of its proprietary pharmaceutical drug candidates as well as advance manufacturing knowledge of cannabinoids and cannabinoid
analogs and support intellectual property development and other commercial activities; the company may also use proceeds from the offering for general working capital purposes. The announcement also noted that any unregistered investment options issued in the offering will be exercisable upon issuance at an exercise price of $8.44 per share; the shares will expire seven years from the date of issuance.
To view the full source article, visit: https://ibn.fm/0PpIb
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