NetworkNewsWire Editorial Coverage:
The medicinal cannabis market is expected to reach almost US$56
billion by 2025, according to a report by Grand View Research
(http://nnw.fm/rXx0Z), driven in part by demand
for therapeutic applications of cannabinoid-based drugs for pain
relief, suppression of nausea and appetite stimulation, as well as
for symptomatic treatment of diseases such as glaucoma, cancer and
multiple sclerosis. As an increasing volume of scientific research
leans toward the efficacy of cannabis-based drugs, innovative
biotech companies are advancing their R&D to develop
therapeutic candidates that envelop the potential health benefits
of the marijuana plant. One such company is InMed
Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) (IMLFF
Profile), which has
several cannabinoid-based drug candidates in its pipeline. The
company has also developed a proprietary and groundbreaking
technology for the biosynthesis of all 90+ cannabinoids via an
innovative process that enables a wide spectrum of drug development
activities in-house, from drug manufacture to novel,
tissue-specific formulation and all clinical and regulatory work.
Though currently valued at only US$81 million, InMed’s capabilities
position it among the ranks of larger biotechs with important
innovations in this industry, including GW Pharmaceuticals
plc (NASDAQ: GWPH), Zynerba Pharmaceuticals, Inc.
(NASDAQ: ZYNE), Cara Therapeutics, Inc. (NASDAQ:
CARA) and INSYS Therapeutics, Inc. (NASDAQ:
INSY).
Extracting cannabinoids for medicinal applications using an
agriculture-based model involves a lengthy, expensive and
labor-intensive process of planting, growing, harvesting,
extracting and purifying. To avoid the shortcomings of an
agricultural approach, several biotechs have turned to chemical
processes to produce synthetic cannabinoids that can deliver
consistent quality, thereby overcoming some of these concerns and
increasing their prospects of gaining FDA approval. However,
synthetic production can be expensive and can present potential
safety issues. It is difficult to synthesize compounds that are
identical to their natural counterparts, and the slightest
structural variations can affect the quality and safety of the
finished product.
While other biotech companies instead favor partnerships with
pharmaceutical raw material suppliers for their cannabinoid supply,
InMed
Pharmaceuticals (OTCQB: IMLFF) (CSE: IN) utilizes its
proprietary biosynthesis process to manufacture any of the 90+
individual cannabinoids found in cannabis. The company’s
computer-based platform bolsters this production capability by
using bioinformatic algorithms to match individual cannabinoids to
specific diseases, thereby identifying potential therapeutic
targets for its drug development programs.
InMed has been utilizing this bioinformatics approach for
several years now. The platform enables the company to assess the
interaction of individual cannabinoids with genes, target
receptors, proteins and other criteria to measure suitability as
active ingredients to target diseases. The output from the
bioinformatics analysis can then be rapidly and cost-effectively
validated in tissue and disease-specific in vitro and
in vivo experimentation. Once confirmed in these bench-top
experiments, the individual cannabinoids can then be manufactured
at large scale using InMed’s proprietary biosynthesis system.
In short, InMed has the ability to:
- Identify which cannabinoids have potential to treat specific
diseases
- Manufacture the desired pharmaceutical-grade cannabinoid at
>95% purity, with identical structures to cannabinoids found in
nature, with no pesticide residue; and
- Formulate the cannabinoid drug candidate into a tissue-specific
pharmaceutical product for advanced preclinical and clinical
testing.
This innovation covers a broad spectrum of the drug development
process without the need to create synthetic cannabinoids or rely
on the quantity and quality of other cannabis growers.
InMed currently has two advanced candidates in its development
pipeline. INM-750 is being developed for the treatment of
epidermolysis bullosa (EB) and includes multiple cannabinoids as
active ingredients. EB is a rare genetic disease with a very high
unmet medical need and no currently approved treatments. INM-750 is
being developed for topical application to regulate disease
activity and alleviate the symptoms of EB. INM-085 is being
development as a therapy for glaucoma, to be delivered as a
hydrogel which can be administered once a day directly to
intraocular pressure (http://nnw.fm/2EIBu). The estimated combined market
potential of these two candidates is $6 billion per year.
InMed’s innovative approach to bioinformatics and biosynthesis
is groundbreaking, and the company has already filed a provisional
patent to protect its cannabinoid biosynthetic process.
InMed is currently working on scaling up its manufacturing
capability, pivoting from the success of its proprietary
laboratory-based systems. To assist with its advancing position in
the market, InMed engaged as a consultant Ben Paterson, P.E., a
professional engineer with extensive experience in the development
of purification and manufacturing processes in the pharmaceutical
industry (http://nnw.fm/9Bzoh).
Having pioneered the manufacture of cannabinoids, InMed is well
positioned to maximize partnership activities by assisting biotechs
and other companies - such as GW Pharmaceuticals
(NASDAQ: GWPH) - with their cannabis-based drug
programs. GW Pharmaceuticals is a world leader in the research and
development of plant-based cannabinoid therapeutics, with a primary
focus on the treatment of neurological conditions. Valued at more
than US$2.5 billion, the company commercialized the world’s first
cannabinoid-based drug for the treatment of spasticity caused by
multiple sclerosis. Its leading development candidate is a
formulation for the treatment of childhood-onset epilepsy disorders
like Lennox-Gastaut syndrome and Dravet syndrome. On October 30, GW
announced that it had completed its rolling submission of a new
drug application to the Food and Drug Administration (FDA). The
company also has several other product candidates in development
for treating glioma and schizophrenia.
Zynerba Pharmaceuticals (NASDAQ:
ZYNE) focuses its research efforts into developing
synthetic cannabinoid therapeutics using a transdermal delivery
mechanism. It has two products in development: ZYN001 - a THC-based
formulation for pain relief in patients with fibromyalgia and
peripheral neuropathic indications, and ZYN002 - an innovative and
patented gel, which contains the non-psychoactive cannabidiol (CBD)
as an active ingredient, for transdermal delivery to patients with
osteoarthritis and Fragile X syndrome. Zynerba’s market valuation
is over US$172 million.
Connecticut-based Cara Therapeutics
(NASDAQ: CARA) has a market cap of US$400 million.
The company has five product candidates in development, including a
cannabinoid-based product, focusing on acute and chronic pain
relief and the treatment of pruritus. Its proprietary formulations
target the body’s peripheral nervous system. Medications that are
available to treat these conditions typically have undesirable side
effects, and initial trials of some of these candidates have
demonstrated efficacy for both conditions without adverse
reactions. The company’s most advanced opioid drug candidate,
CR845, has been tested in phase 2 trials on patients undergoing
laparoscopic hysterectomy or bunionectomy procedures with good
results in pain reduction and the reduction of opioid-related side
effects.
The improvement of patient care by delivering cannabinoid-based
therapies for unmet patient needs is the mission of INSYS
Therapeutics’ (NASDAQ: INSY), which is
valued at US$380 million. The company markets a fentanyl sublingual
spray, called Subsys®, for the relief of pain associated with
cancer. Since 2014, Subsys® has achieved a market share of 48
percent of prescription fentanyl products. INSYS is also developing
Syndros®, a synthetic THC product for the second-line treatment of
nausea induced by chemotherapy and AIDS-related weight loss.
The rapidly emerging cannabis-based drug market is set for
significant growth over the next few years as regulatory
restrictions are eased and more companies are licensed. The
innovation shown by these companies to date is what is needed to
leverage market demand.
For more information on InMed Pharmaceuticals, visit InMed
Pharmaceuticals, Inc. (OTCQB: IMLFF) (CSE: IN)
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