In 2020, the global health and wellness market reached $4.436 trillion and is expected to grow at a CAGR of 5.5% from 2021 to 2030, resulting in an estimated value of $7.7 trillion by the end of the forecasted period (https://ibn.fm/BjCNi). The primary driver for the market is the rise in chronic diseases globally. The lifestyles led by individuals have resulted in a high prevalence of stress, depression, anxiety, cancer, diabetes, and other health-related issues. On top of these conditions, the lack of a proper diet has reduced the intake of essential minerals and nutrients required for healthy function by every body. The rapid growth of the biopharmaceutical industry and the constant research and development of health and wellness products boost the medicinal industry with life-saving drugs and treatments for some of the most devastating illnesses and diseases.
Six areas make up a consumer’s view of wellness – better health, better fitness, better nutrition, better appearance, better sleep, and better mindfulness. According to a McKinsey & Company survey, worldwide, the most money spent was on products that promote better health (https://ibn.fm/Jhzpl). The majority of the spending (70%) was product-related, but over the next year, the services industry is expected to grow as well.
InMed Pharmaceuticals (NASDAQ: INM), a clinical-stage company developing cannabinoid-based pharmaceutical drug candidates and the manufacturer of technologies for pharmaceutical-grade rare cannabinoids, has dedicated itself to developing new therapeutic alternatives for the treatment of conditions with high unmet medical needs. Together with its subsidiary, BayMedica, InMed increases shareholder value by combining two complementary business models.
There are over 140 rare cannabinoids that naturally occur at low amounts in the cannabis plant. InMed initially focused on the therapeutic benefits of cannabinol (“CBN”), which shows increased potential over other cannabinoids more prominently found in the cannabis plant. CBN is also the active pharmaceutical ingredient in two lead programs conducted by InMed for dermatological (INM-755) and ocular (INM-088) diseases.
The manufacturing process used by InMed and recently acquired subsidiary BayMedica is unparalleled in the industry. There is no “one-size-fits-all” approach to cannabinoid manufacturing, so multiple avenues are required to realize the maximum outcome for the targeted cannabinoid. InMed and BayMedica, like a well-oiled machine, work together using biosynthesis, chemical synthesis, and the proprietary IntegraSyn(TM) manufacturing models.
Biosynthesis is preferred for complex structures at a large scale and is well suited for the consumer and health industry. Chemical synthesis is preferred for cannabinoids with simple structures and offers the potential for less equipment and lower capital requirements. There is also a potential for easier validation with chemical synthesis, and it is also an important component of secondary IntegraSyn(TM) differentiation steps.
IntegraSyn(TM) utilizes high-efficiency biosynthesis-derived enzymes, allowing the flexibility to shift from the production of one cannabinoid to a range of cannabinoids. This proprietary method makes it easy to scale up to mass production, it is commonly available, and it is cost-efficient when dealing with startup materials.
Together, InMed and BayMedica plan to launch a series of rare cannabinoids into the health and wellness sector during Q1 2022, starting with cannabicitran (“CBT”). “We are delivering on our objective to launch additional rare cannabinoids in early 2022 in response to inbound demand,” BayMedica SVP and General Manager Shane Johnson said (https://ibn.fm/lsr3m). “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.”
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://ibn.fm/INM
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