VANCOUVER, British Columbia, March 10, 2015 /PRNewswire/ -- InMed Pharmaceuticals Inc. ("InMed") (CSE: IN; OTCQB: IMLFF) announces it has formed an exclusive strategic collaboration with the University of Debrecen, Hungary, to develop novel phytocannabinoid-based therapies to treat ocular allergic symptoms. The collaboration will leverage InMed's proprietary Intelligent Cannabinoid Drug Design Platform (IDP) and will be led by one of the world's leading cannabinoid researchers, Dr. Tamas Biro, MD, PhD, DSc.  Dr. Biro has extensive research experience in studying the endocannabinoid system (ECS) and the closely related transient receptor potential (TRP) channels in various human diseases.

Under the discovery and development collaboration InMed's IDP Platform will be used to identify cannabinoid- and non-cannabinoid-based phytochemicals for ocular therapies focused on reducing various pro-inflammatory cytokines in in vitro and in vivo models.

Dr. Sazzad Hossain, Chief Scientific Officer of InMed, stated, "We have accumulated significant experience and expertise in developing cannabinoids to treat ocular disease, which forms the basis of this strategic collaboration.  As we prepare to initiate Phase 1 clinical trials of our lead phytocannabinoid-based drug candidate CTI-085 for glaucoma, we look forward to expanding our ophthalmic therapy pipeline by developing ocular anti-allergic drugs, where we expect Dr. Biro's 18 years of experience in this specialty field to be invaluable."

"The global ocular allergy space is a multi-billion dollar market and our platform offers a novel approach to potentially treating a wide array of allergies," said Craig Schneider, President and CEO of InMed.  "We are excited to move a lead candidate toward preclinical and clinical trials and will provide additional updates as they become available."

About InMed

InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis-based therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMeds' proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the Company.

For more information, visit www.inmedpharma.com

ON BEHALF OF THE BOARD

InMed Pharmaceuticals Inc.
Craig Schneider
President and Chief Executive Officer
Tel:  604.669.7207
Fax: 604.683.2506
info@inmedpharma.com / www.inmedpharma.com   

Contact:

InMed Pharmaceuticals Inc.
Craig Schneider
President and Chief Executive Officer
T: 604.669.7207
F: 604.683.2506
E: info@inmedpharma.com

Tiberend Strategic Advisors, Inc.
Joshua Drumm, Ph.D. (Investors)
jdrumm@tiberend.com
212-375-2664

Amy Wheeler (Media)
awheeler@tiberend.com
646-362-5750

Forward Looking Statements

This news release may contain forward-looking statements and information based on current expectations.  These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct.  We assume no responsibility to update or revise them to reflect new events or circumstances.

Additionally, there are known and unknown risk factors which could cause InMed Pharmaceuticals actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. 

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed Pharmaceuticals disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

These risks and uncertainties include, among others, the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results, risks associated with obtaining funding from third parties, risks related to the timing and costs of clinical trials and the receipt of regulatory approvals

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SOURCE InMed Pharmaceuticals Inc.