BioMedNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Releases Update on Company Objectives and Programs

InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development and manufacturing of rare cannabinoids and cannabinoid analogs, is reporting an update on the company’s research/development and commercial activities. According to the update, the company is working to complete enrollment in a phase 2 clinical program in epidermolysis bullosa (‘EB’) by the end of 2023, to advance its R&D efforts on a preclinical drug candidate in ocular disease and to investigate the potential of proprietary cannabinoid analogs in targeting specific diseases. The update included an observation that market demand for INM’s BayMedica naturally occurring cannabinoids is not progressing as anticipated, which has caused the company to re-evaluate whether its BayMedica commercial activities will see margins that justify further investment in that business line. The announcement noted that the company plans to invest where it sees the greatest potential for a return. Consequently, InMed will be focusing its core business on the pharmaceutical drug-development area and reducing its efforts in the health and wellness space. Specifically, the company will be evaluating the potential use of a rare cannabinoid to improve neuronal function and provide neuroprotection for treating neurodegenerative disorders such as Alzheimer’s disease, Parkinson’s disease and Huntington’s disease. “To make that transition, we plan to focus sales efforts on reducing inventory and decreasing other commercial and manufacturing R&D efforts,” said InMed CEO Eric A. Adams in the press release. “BayMedica will continue to evaluate opportunities for potential structured supply arrangements and collaborations and will consider other potential strategic alternatives for the commercial business. . . . [Our rare cannabinoid] research further reflects our efforts in the fields of dermatology and ocular disease to identify and develop cannabinoids that have significant therapeutic potential in treating disease. We look forward to continuing the progress we have made in advancing our pharmaceutical drug-development programs, including proprietary cannabinoid analogs, with the aim of achieving important milestones in the coming quarters and years.”

To view the full press release, visit https://ibn.fm/BU9Kv

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs.  We also have significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, please visit www.InMedPharma.com.  

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://ibn.fm/INM

About BioMedWire

BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.

To receive SMS text alerts from BioMedWire, text “Biotech” to 888-902-4192 (U.S. Mobile Phones Only)

For more information please visit https://www.biomedwire.com

Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer

BioMedWire (BMW)
San Francisco, California
www.biomedwire.com
415.949.5050 Office
Editor@BioMedWire.com

BioMedWire is part of the InvestorBrandNetwork