New York, New York (NetworkNewsWire) – As the medical marijuana
market continues to grow, so does the number of biotech companies
expanding their research into the development of innovative
cannabinoid-based pharmaceuticals and delivery systems. It is
estimated that the U.S. consumer market for cannabinoid
pharmaceuticals will increase exponentially in upcoming years,
exceeding $50 billion by 2029, according to Statista. This doesn’t
appear to be a lofty forecast, given the prominence this market
segment has gained by the sustained efforts and innovations of
leading biotech companies such as InMed Pharmaceuticals,
Inc. (IMLFF) (InMed
Profile), GW Pharmaceuticals plc (GWPH), Zynerba
Pharmaceuticals, Inc. (ZYNE), AXIM® Biotechnologies, Inc.
(AXIM) and OWC Pharmaceutical Research Corp.
(OWCP). From multiple sclerosis symptoms to
gastrointestinal problems and rare skin conditions, cannabinoids
are increasingly demonstrating potential for a variety of medical
conditions. The biotech companies developing and commercializing
these new therapies are on a path to market stardom.
Topical delivery, targeting to treat diseases on a local (rather
than systemic) basis, is a preferred approach for various
cannabinoid therapies, especially those targeting skin conditions.
Canada-based InMed Pharmaceuticals, Inc. (IMLFF) (InMed
Profile), flagship product, INM-750, is a
cannabinoid-based topical therapy for a rare skin condition called
Epidermolysis Bullosa (EB). INM-750 is the first treatment ever
developed specifically for this disease. Although, as of now, there
is no cure for EB, INM-750 has the potential to accelerate wound
healing and skin regeneration; alleviate several symptoms such as
inflammation, itching and pain; and modulate keratin levels in the
skin, with potentially regenerative and restorative effects. With a
potential global market of $1 billion per year, the treatment is
being developed for topical application so as to maximize efficacy
while minimizing side effects. InMed’s second product candidate,
INM-085, is targeting glaucoma and is also being developed for
topical (eye drop) application. With an estimated 2.7 million
patients in the U.S. and a global market exceeding $5 billion,
INM-085 will be the first glaucoma treatment designed to be a
multi-mechanism, multi-target of action therapy based on
cannabinoids.
In addition to its innovative drug delivery systems, what sets
InMed apart further is its groundbreaking, proprietary biosynthesis
process for the manufacture of all 90+ known cannabinoids that
occur naturally in the marijuana plant. This cost-effective,
innovative approach has already proven successful at laboratory
scale, and it is likely to make InMed a game-changer in the booming
cannabinoid pharmaceutical market. Most biotech companies in the
field, including giants such as GW Pharmaceuticals
(GWPH), focus on traditional cannabinoid extraction
methods that require tons of marijuana plants and tens of millions
of dollars in expenses. This costly process is also resource
intensive, with various factors that can impact quality control,
just to get the two most common cannabinoids: tetrahydrocannabinol
(THC) and cannabidiol (CBD). The extraction of less common
cannabinoids is even more expensive, making such traditional
processing methods highly unfeasible.
But InMed’s biosynthesis process, much like Eli Lilly’s current
method for making human insulin, can change all of that. The
company’s high-yield/low-cost approach will allow the industry to
tap into the potential of cannabinoids present in marijuana plants
by creating them in a laboratory setting in a safe and scalable
manner. With its top-tier management and board, which includes
Chief Scientific Officer and global leader in cannabinoid science
Dr. Sazzad Hossain and Chief Medical Officer Ado Muhammed – a
former senior member of GW Pharmaceuticals and a proven leader in
the development of cannabinoid-based therapies, InMed has the right
expertise, the right team and the right science to cause a major
shift in the market and turn it into a billion-dollar business.
Another company that focuses on transdermal cannabinoid-based
therapies with very encouraging results is Israel’s OWC
Pharmaceutical Research Corp. (OWCP). The
company manufactures products for various conditions, including
PTSD, multiple myeloma, migraines and psoriasis, and it is focused
on the development and optimization of two proprietary delivery
systems: a sublingual tablet and a topical compound. OWC’s research
efforts are spearheaded by Chief Science Officer Dr. Yehuda Baruh,
former head of the medical cannabis program of the Israeli Ministry
of Health for over 10 years. Last month, the company received
Institutional Board Review approval to run safety testing on its
topical cream for the treatment of psoriasis and related
conditions, making it the first topical delivery mechanism and
proprietary cannabinoid-based psoriasis formulation to be included
in the NIH Registry.
Yet another innovative delivery method for cannabinoid-based
therapies comes from AXIM® Biotechnologies, Inc.
(AXIM). With a market cap of $490 million, AXIM®
is a leading cannabinoid research and development company that
focuses on creating pharmaceutical, cosmetic and nutraceutical
products. Its pharmaceutical products target mostly pain, anxiety
and spasticity, as well as other medical conditions that can
benefit from cannabinoid-based treatments. Its flagship products
both use an innovative delivery method, being manufactured in the
form of chewing gum, including: CanChew® – a CBD-based controlled
release product for the treatment of irritable bowel syndrome
(IBS), and MedChew Rx – a CBD/THC combination currently undergoing
clinical trials for the treatment of multiple sclerosis-associated
pain and spasticity. The company recently announced the launch of a
phase 2 clinical trial for CanChew Plus®, which enrolls 40 trial
patients suffering from IBS.
Another successful cannabis biotech company, Zynerba
Pharmaceuticals, Inc. (ZYNE), has taken
the process one step further, focusing on the development of novel
synthetic cannabinoid treatments designed for transdermal delivery.
With a market cap of more than $260 million and a stock price of
over $20 per share, Zynerba is developing two proprietary
therapies: a synthetic tetrahydrocannabinol pro-drug transdermal
patch for peripheral neuropathic pain and fibromyalgia, and a
transdermal synthetic cannabinoid gel for osteoarthritis, fragile X
syndrome and refractory epilepsy. Earlier this year, the company
launched an underwritten public offering of 2.8 million shares at
$18 per share, with expected proceeds of over $50 million to
continue funding the clinical development of its proprietary
therapies.
As mentioned above, GW Pharmaceuticals plc
(GWPH) is a leading industry player and a clear example of
a medical marijuana firm whose stock has been skyrocketing as a
result of successfully isolating different cannabinoids from
marijuana plants and turning them into efficient medical therapies.
The UK-based biopharmaceutical company has discovered an oromucosal
spray for multiple sclerosis spasticity, which is already being
successfully marketed in dozens of countries. Furthermore, it has
isolated another cannabinoid to be used for the treatment of
epilepsy, which is currently in the final clinical trial states
before approval, and the company is also developing other product
candidates for a wide range of medical conditions such as tuberous
sclerosis complex, Dravet syndrome, infantile spasms,
Lennox-Gastaut syndrome, glioma and schizophrenia. The company’s
success in developing effective and innovative cannabinoid-based
therapies over the last few years has earned it a market cap of
more than $3 billion and a share price of over $120.
For more information on InMed
Pharmaceuticals, Inc. (IMLFF) please visit: https://www.inmedpharma.com/insights/2017
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