VANCOUVER, British Columbia,
March 23, 2015 /PRNewswire/--
InMed Pharmaceuticals Inc. ("InMed") (CSE: IN;
OTCQB: IMLFF), a clinical stage biopharmaceutical company
that specializes in developing safer, more effective cannabis-based
therapies, today announced that it has received a notice from
Health Canada dated March 12, 2014,
approving InMed's application for an exemption under Section 56 of
the Controlled Drugs and Substances Act.
This exemption allows InMed to use a specified quantity of
selected Cannabinoid compounds including Delta
9-Tetrahydrocannabinol and Cannabidiol. Importantly this exemption
allows InMed to possess the controlled substance and to administer
them for Research & Development purposes which include; in
vitro studies as well as the use of these compounds in animal
models of human diseases.
Craig Schneider, President &
CEO states, "Obtaining this exemption is a critical milestone for
InMed as we prepare for human clinical studies for our lead
programs in Glaucoma (CTI-085) and Arthritis (CTI-091) moving
towards the clinical development of their respective proprietary
delivery systems".
The Office of Controlled Substance licensed dealers has also
been notified so that it may import the controlled substances on
behalf of InMed.
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.
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
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
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS
SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
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SOURCE InMed Pharmaceuticals Inc.