VANCOUVER, Sept. 11, 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 the Company's research partner, University of British Columbia ("UBC"), has been
approved to receive a grant from the Natural Sciences and
Engineering Research Council of Canada ("NSERC") for their collaborative
efforts with InMed in the biosynthesis of cannabinoids (the
"Collaboration").
Under the terms of the grant, the NSERC has committed funding of
C$136,000 towards the Collaboration
over the course of three years. The Collaboration, entitled
'Microbial metabolic engineering for cannabinoid biosynthesis',
which originally commenced in May
2015, targets development of a microbial-based cannabinoid
expression system for the manufacture of individual cannabinoid
drugs for treating diseases with high unmet medical needs.
InMed's Vice President, Pre-Clinical Research & Development,
Eric Hsu, Ph.D., commented, "We are
honored that our trusted, world-class research partner, Dr. Yadav
at UBC, has received this prestigious grant from the NSERC.
Through our continued research effort on this program with UBC, we
remain optimistic that the development of our proprietary
biosynthesis platform technology will result in commercial-scale
manufacturing of cannabinoids."
"We would like to take this opportunity to extend our gratitude
to the NSERC for their vote of confidence in our cutting-edge
work," added Vikramaditya G. Yadav,
Ph.D., Assistant Professor in the Department of Chemical &
Biological Engineering. "The successful completion of this
Collaboration will not only advance the Company's manufacturing
capabilities and its R&D pipeline, but also provide immense
social and strategic benefit to Canada."
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.
About Natural Sciences and Engineering Research Council of
Canada ("NSERC"):
NSERC
invests over $1.2 billion each year
in natural sciences and engineering research in Canada. Its investments deliver
discoveries – valuable world-firsts in knowledge claimed by a brain
trust of over 11,000 professors. Its investments enable
partnerships and collaborations that connect industry with
discoveries and the people behind them. Researcher-industry
partnerships supported by NSERC help inform research and
development and solve scale-up challenges. NSERC also
provides scholarships and hands-on training experience for more
than 30,000 post-secondary students and post-doctoral fellows.
These young researchers will be the next generation of science and
engineering leaders in Canada.
About INM-750. INM-750 is a proprietary, topical
cannabinoid product candidate targeted as a therapy in
epidermolysis bullosa (EB) and other potential dermatological and
wound-healing applications. It has been specifically designed with
the intent to: (i) modify the underlying cause of the disease in
certain patients with EB Simplex (EBS, the most common form of EB),
and (ii) to treat the major symptoms of the disease in all patients
with EB. Preclinical data generated previously demonstrates that
INM-750 may have a significant impact on certain symptoms of EB
(which may include improvement of wound area to promote healing,
reduction in pain, itch and inflammation, and providing
antimicrobial activity). These disease hallmarks are key
therapeutic targets for the effective treatment of EB as well as
several other dermatological conditions. Additionally, our data
indicate that INM-750 may have an impact on the underlying disease
by increasing the production of certain proteins, called keratins,
in the skin.
About Epidermolysis Bullosa (EB). EB is a group of
rare diseases that cause fragile, blistering skin. The
blisters may appear in response to minor injury, even from heat,
rubbing, scratching or adhesive tape. In severe cases, the
blisters may occur inside the body, such as the lining of the mouth
or the stomach. Most types of epidermolysis bullosa are
inherited. The condition usually presents in infancy or early
childhood. Epidermolysis bullosa has no cure.
About INM-085. InMed is developing a
stimulus-responsive, nanoparticle-laden vehicle for controlled
delivery of ophthalmic drugs into the aqueous humor of the eye. The
first application of this delivery vehicle will be for INM-085 as a
cannabinoid-based topical therapy targeting reduction of the
intraocular pressure associated with glaucoma as well as being
designed to serve as a neuro-protectant to the retinal ganglion
cells. INM-085 is intended for application as a once-per-day eye
drop administered immediately prior to the patient's bedtime,
intending to assist in reducing non-adherence with current glaucoma
therapies. Additionally, this novel, proprietary delivery system
for ocular drugs may also play an important role in enabling other
companies' proprietary ocular drug candidates or re-invigorating
the commercial potential of off-patent products that would benefit
from a once-a-day dosing regimen.
About Glaucoma. Glaucoma is a group of eye
conditions that damage the optic nerve, which is vital to good
vision. This damage is often caused by an abnormally high
pressure in your eye. It is the second leading cause of
blindness worldwide. It can occur at any age but is more
common in older adults. The most common form of glaucoma has
no warning signs. The effect is so gradual that you may not
notice a change in vision until the condition is at an advanced
stage. Vision loss due to glaucoma can't be recovered.
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: the receipt of a $136,000 grant over three years; the development
of our proprietary biosynthesis platform technology will result in
commercial-scale manufacturing of cannabinoids; advancing the
Company's manufacturing capabilities and its R&D pipeline;
providing immense social and strategic benefit to Canada; achievement of drug development
milestones; INM-750's potential impact on EB and other conditions;
developing a stimulus-responsive, nanoparticle-laden vehicle for
controlled delivery of ophthalmic drugs into the aqueous humor of
the eye; the potential of INM-085 to treat glaucoma; the potential
applications of our proprietary delivery system for other ocular
drugs; 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: 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: the NSERC grant may not be received in the expected
amount or timeline, or at all; the Collaboration may not elicit the
desired results on a timely basis, or at all; 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; 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.
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.