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InMed Pharmaceuticals Inc. (NASDAQ: INM) Increasing Rare Cannabidiol Product Portfolio, Revenues

  • InMed Pharmaceuticals is a Canadian clinical-stage drug development company focused on the development of rare cannabinoids and their synthetic counterpoints for B2B sales and pharmaceutical potential
  • InMed expects to have rare cannabinoids CBDV and THCV available for B2B sale to the health and wellness market in the coming months, following on the heels of its CBC and CBT products
  • The company recently reported its first revenues from CBC sales in the wake of its acquisition of rare cannabinoids manufacturer BayMedica late last year
  • The company is also working to develop synthetic CBN cannabinoids as potential medical treatments for select conditions, including glaucoma and a severe genetic skin disorder known as epidermolysis bullosa (“EB”)

Rare cannabinoid drug developer InMed Pharmaceuticals (NASDAQ: INM) is expanding its product manufacturing scale, thanks largely to the acquisition of consumer-focused rare cannabinoids manufacturer BayMedica last year to better approach the pharmaceutical and health and wellness markets (https://cnw.fm/9lVDp). 

InMed’s most-recent Q2 financial statement reported revenues of $0.3 million from commercial sales of cannabichromene (“CBC”) to the health and wellness market following the BayMedica acquisition. Since January, the company has also been selling cannabicitran (“CBT”) to the health and wellness market on a B2B basis according to a company news release, so revenues from those sales would appear in future quarterly reports (https://cnw.fm/OjtQW).

The company’s forward-looking focus on bringing new cannabinoid products to commercial scale anticipates sales of cannabidivarin (“CBDV”) and tetrahydrocannabivarin (“THCV”) in the coming months as its next revenue generators. A Harvard Medical School report noted THCV has some “exciting” potential in treating obesity and diabetes because of its apparent capacity to reduce fasting insulin levels, enhancing weight loss and improving glycemic control, which has been demonstrated in animal trials but is without human studies to support it thus far (https://cnw.fm/DuVM8).

CBDV is being considered as a potential means of modulating “brain excitatory-inhibitory systems” — including its possibilities for treating the irritability in autistic children (https://cnw.fm/2ECZx).

“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 stated in January (https://cnw.fm/gqVh3). “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.”

The company expects to produce more than 100 kilograms of CBDV and THCV under the initiative. 

Because of the very limited quantities of rare cannabinoids that make them effectively impractical from an economic standpoint to extract directly from the plant for pharmaceutical use, InMed’s R&D operation is working to develop synthetic formulations for the treatment of specific conditions. 

INM-755, a cannabinol (“CBN”) topical cream under clinical development for the treatment of a severe genetic skin disorder known as epidermolysis bullosa (“EB”), is undergoing patient screening and treatment in a Phase 2 clinical trial at 13 sites in eight European countries following two Phase 1 clinical trials in healthy volunteers. The company reports it is the first time a CBN-based formulation has ever advanced to a Phase 2 clinical trial (https://cnw.fm/j4VPx). 

InMed is also developing a CBN formulation for the potential treatment of glaucoma. INM-088 dosing is currently being researched for topical delivery to the eye as a means of reducing intraocular pressure and providing neuroprotection of the eye.

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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