VANCOUVER, BC, Nov. 18, 2020 /CNW/ - InMed Pharmaceuticals
Inc. ("InMed" or the "Company") (NASDAQ:INM) (TSX:IN), a
clinical-stage pharmaceutical company developing medications
targeting diseases with high unmet medical need and leading the way
in the clinical development of cannabinol ("CBN"), and BayMedica
Inc., a company specializing in the design and manufacture of
rare natural cannabinoids and cannabinoid analogs through
biosynthesis and pharmaceutical chemistry, announced today they
have entered into a broad reciprocal research collaboration to
explore synergies between technologies owned by the two
companies.
Under the terms of the Collaborative Research Agreement,
BayMedica is being provided access to specific elements of InMed's
proprietary IntegraSynTM platform for the production of
cannabinoids. Specifically, BayMedica will assess the potential of
one or more of InMed's high-efficiency enzyme gene sequences in
BayMedica's systems for the production of the cannabinoids in
BayMedica's catalogue.
InMed will undertake preclinical investigation of numerous
therapeutic compounds selected from BayMedica's extensive library
of proprietary cannabinoid analogs. Utilizing its validated assays
and assessment criteria, InMed will also explore the therapeutic
potential of specific analog compounds in selected disease models
in the field of neuroprotection as compared to naturally occurring
cannabinoids. BayMedica has a published patent application that
encompasses thousands of new chemical entities based on cannabinoid
analog structures.
Should the initial research phases of the individual projects
defined under the agreement achieve positive and meaningful
results, the Collaborative Research Agreement provides a mechanism
to license the other party's technology.
About InMed: InMed Pharmaceuticals is a clinical-stage
pharmaceutical company developing a pipeline of cannabinoid-based
medications, initially focused on the therapeutic benefits of
cannabinol (CBN) in diseases with high unmet medical need. The
Company is dedicated to delivering new therapeutic alternatives to
patients that may benefit from cannabinoid-based medicines. For
more information, visit www.inmedpharma.com.
About BayMedica: BayMedica Inc. is a revenue stage
biotechnology company leveraging synthetic biology and
pharmaceutical chemistry to develop an efficient, scalable, and
proprietary platform to produce high quality, rare cannabinoids for
consumer applications and cannabinoid-derived new chemical entities
for pharmaceutical applications. For more information visit
www.baymedica.com.
Cautionary Note Regarding Forward-Looking
Information:
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
information") within the meaning of applicable securities
laws. Forward-looking information is based on management's
current expectations and beliefs and is subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
Forward-looking information in this news release includes
statements about: leading the way in the clinical development of
CBN; the exploration of synergies between technologies owned by the
two companies; the assessment of the potential of one or more of
InMed's high-efficiency gene sequences in BayMedica's system for
the production of cannabinoids in BayMedica's catalogue; InMed's
intention to undertake preclinical investigations of therapeutic
compounds and to explore the therapeutic potential of specific
analog compounds in selected disease models; and the potential to
achieve positive results and the mechanism to license the other
party's technology.
With respect to the forward-looking information contained in
this news release, InMed has made numerous assumptions regarding,
among other things: that InMed will lead the way in the clinical
development of CBN; there will be synergies between technologies
owned by the two companies; there will be one or more of InMed's
high-efficiency gene sequences in BayMedica's system for the
production of cannabinoids in BayMedica's catalogue; there will be
benefits realized from InMed undertaking preclinical investigations
of therapeutic compounds and to explore the therapeutic potential
of specific analog compounds in selected disease models; and there
may be positive results and the ability to license the other
party's technology. While InMed considers these assumptions to be
reasonable, these assumptions are inherently subject to significant
business, economic, competitive, market and social uncertainties
and contingencies.
Additionally, there are known and unknown risk factors which
could cause InMed's 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. Known risk factors include, among
others: the outbreak and impact of COVID-19 may worsen; there may
be little or no synergies at all to be realized; there may be
little to no potential of one or more of InMed's high-efficiency
gene sequences in BayMedica's systems for the production of
cannabinoids in BayMedica's catalogues; there may be no therapeutic
potential of specific analog compounds in selected disease models;
there may be no positive results; and neither party may end up
licensing the other party's technology. A more complete discussion
of the risks and uncertainties facing InMed is disclosed in InMed's
most recent Annual Information Form and other continuous disclosure
filed with Canadian securities regulatory authorities on SEDAR at
www.sedar.com.
All forward-looking information herein is qualified in its
entirety by this cautionary statement, and InMed 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.
NEITHER THE TORONTO
STOCK 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.