TSX: IN
OTCQX: IMLFF
VANCOUVER, March 18, 2019 /CNW/ - InMed
Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN;
OTCQX:IMLFF), a biopharmaceutical company developing a proprietary
biosynthesis platform technology for the manufacturing of
pharmaceutical-grade cannabinoids as well as an R&D pipeline of
medications targeting diseases with high unmet medical needs, today
announced the publication of the first in a series of pending
patent applications directed to the Company's biosynthesis platform
technology for the manufacturing of pharmaceutical-grade
cannabinoids.
International Patent Application No. PCT/CA2018/051074, which
recently published as WO2019046941, entitled 'METABOLIC ENGINEERING
OF E. COLI FOR THE BIOSYNTHESIS OF CANNABINOID PRODUCTS', addresses
the enablement and maximization of cannabinoid production through
optimization of the precursor substrates needed to support specific
cannabinoid synthesis. This application, as well as two more
recently-filed U.S. provisional patent applications, also cover
various elements required to enable functional cannabinoid synthase
production in an E. coli system. The Company will
actively seek to convert these two follow-on provisional
applications, and subsequent provisional patents from new patent
families, into additional Patent Cooperation Treaty ("PCT")
applications in all major commercial jurisdictions, in due
course.
Eric Hsu, PhD, InMed's Senior
Vice President, Preclinical Research and Development, stated, "The
publication of our initial patent and the filing of two additional
provisional patent applications supports InMed's continued
expansion of intellectual property coverage for our proprietary
biosynthesis program. InMed will continue to position itself
at the forefront of this and other innovative technologies to
enable the manufacturing of pharmaceutical grade cannabinoids
through biosynthesis."
Vikramaditya G. Yadav, PhD,
Scientific Advisor to InMed and Assistant Professor in the
Department of Chemical & Biological Engineering and School of
Biomedical Engineering at the University of
British Columbia, added, "It gives us great pride to help
fortify InMed's leadership position with this potentially
transformational innovation in the manufacturing of
pharmaceutical-grade cannabinoids." Dr. Yadav, a co-inventor
of the patent applications, continued, "These collaborative
innovations with InMed provide new avenues to drug manufacturing
that may ultimately benefit patients via cannabinoid-based
therapeutics."
About InMed:
InMed Pharmaceuticals is a
biopharmaceutical company developing a proprietary biosynthesis
system for the manufacturing of pharmaceutical-grade cannabinoids,
as well as a pipeline of cannabinoid-based medications that target
diseases with high unmet medical needs. 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.
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 granting of the provisional patents,
and the commercial protection they would provide for InMed's
biosynthesis platform technology; converting the provisional
patents, and subsequent provisional patents from new patent
families, into PCT applications in all major commercial
jurisdictions, in due course; positioning InMed at the forefront of
innovative technologies to enable the manufacturing of
pharmaceutical grade cannabinoids through biosynthesis; the
transformational potential of InMed's innovation in the
manufacturing of pharmaceutical-grade cannabinoids; providing new
avenues to drug manufacturing that may ultimately benefit patients
via cannabinoid-based therapeutics; and developing a proprietary
biosynthesis system for the manufacturing of pharmaceutical-grade
cannabinoids, as well as a pipeline of cannabinoid-based
medications that target diseases with high unmet medical needs.
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; the
effectiveness of patent protection; 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 provisional patents may not be granted on a timely
basis, or at all; the PCT applications may not be accepted on a
timely basis, if at all; the provisional patent and subsequent PCT
protections may not provide the desired level of commercial
protection; InMed may not be able to position itself at the
forefront of innovative technologies to enable the manufacturing of
pharmaceutical grade cannabinoids through biosynthesis, and such
innovations may not have the desired transformational potential;
InMed may not be able to provide new avenues to drug manufacturing
that ultimately benefit patients via cannabinoid-based
therapeutics; regulatory filings may not be filed or approved on a
timely basis, or at all; clinical trials may not proceed as
anticipated; economic or market conditions may worsen; and InMed's
proprietary biosynthesis manufacturing process and drug development
programs may not deliver the expected level of results. 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.