TSX:IN
OTCQX:IMLFF
VANCOUVER, Sept. 10, 2018 /CNW/ - InMed
Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN;
OTCQX:IMLFF), a fully integrated, cannabinoid-based
biopharmaceutical company that leverages its proprietary
biosynthesis platform technology to develop novel therapeutics for
the treatment of diseases with high unmet medical needs, today
announced that it has filed a Patent Cooperation Treaty ("PCT")
application pertaining to the Company's proprietary
biosynthesis program for the manufacture of cannabinoids that are
identical to those found in nature. This
application will provide protection of the
biosynthesis technology in over 150 different countries including
the United States and claims a
priority date from September 5, 2017
(PCT/CA2018/051074). The PCT filing, which is a conversion
from the provisional patent filed in September 2017, is an important step in providing
intellectual and commercial protection for InMed's biosynthesis
platform technology.
"With the conversion of this patent application, we are
continuing the process of pursuing commercial protection for our
biosynthesis platform technology. As we undertake scale-up
activities towards commercialization, today's patent announcement
is an important step forward for the Company," said Dr.
Eric Hsu, Ph.D., InMed's Vice
President of Preclinical Research and Development. Dr. Hsu
continued, "This application protects our effort to modulate E.
coli's own internal machinery to increase the metabolites
needed for the biosynthesis of the cannabinoid. Beyond this
patent, we are actively pursuing additional patent applications to
further protect our know-how in cannabinoid manufacturing through
biosynthesis. These patent applications collectively
represent the culmination of three years of dedicated time and
resource investment by an extended scientific team."
The PCT is an international patent law treaty, which
provides a unified procedure for filing patent applications to
protect inventions in each of its member states. There are
151 member countries within the PCT, enabling near-global patent
coverage through successful patent prosecution in the U.S.,
Japan, Europe, Canada, Australia, New
Zealand, China,
Brazil, Russia, India, as well as many others.
About InMed:
InMed is a
pre-clinical stage biopharmaceutical company that specializes in
developing novel therapies through the research and development
into the extensive pharmacology of cannabinoids coupled with
innovative drug delivery systems. InMed's proprietary
bioinformatics database drug/disease targeting tool, cannabinoid
biosynthesis technology and drug development pipeline are the
fundamental value drivers of the Company. For more information,
visit www.inmedpharma.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: a PCT filing providing
intellectual and commercial protection for the Company's
proprietary biosynthesis platform technology; undertaking scale-up
activities associated with the Company's biosynthesis program;
pursuing additional patent applications to further protect the
Company's know-how in cannabinoid manufacturing through
biosynthesis; and the expected fundamental value drivers of the
Company.
With respect to the forward-looking information contained
in this news release, InMed has made numerous assumptions
regarding, among other things: the approval and effectiveness of
patent protection; continued and timely positive preclinical and
clinical efficacy data; the speed of regulatory approvals; demand
for InMed's products; and continued economic and market
stability. 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: InMed may not be able to obtain
intellectual and commercial protection for its technologies;
preclinical and clinical testing may not produce the desired
results on a timely basis, or at all; regulatory applications may
not be approved on a timely basis, or at all; suitable partners may
not be located; economic or market conditions may worsen; and
InMed's proprietary bioinformatics database drug/disease targeting
tool, cannabinoid biosynthesis technology and drug development
pipeline may not deliver the expected level of results nor become
the fundamental value drivers of the Company. 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.
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ADEQUACY OR ACCURACY OF THIS RELEASE.
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SOURCE InMed Pharmaceuticals Inc.