InMed Pharmaceuticals Advances Neurodegenerative Disease Program with Natural Sciences and Engineering Research Council of Canada ("NSERC") Alliance Grant Funding
November 16 2022 - 7:00AM
InMed Pharmaceuticals Inc. (“InMed” or the
“Company”) (Nasdaq: INM), a leader in the pharmaceutical research,
development and manufacturing of rare cannabinoids and cannabinoid
analogs, today announces the launch of its neurodegenerative
disease program (INM-900 series), which will be investigating the
effects of cannabinoid analogs in diseases such as Alzheimer’s,
Huntington’s and Parkinson’s.
In research conducted to date, InMed has
identified two cannabinoid analogs demonstrating promising effects
related to the treatment of neurodegenerative diseases, warranting
further investigation in in vivo studies. InMed will be conducting
studies using in vivo models in neurodegenerative disease to select
the most appropriate candidate for clinical studies. Early
preclinical efficacy readout is expected in 2Q 2023.
In addition, Dr. Ujendra Kumar of the faculty of
Pharmaceuticals Sciences at UBC has been awarded an Alliance grant
from NSERC, with InMed as the named industry partner. The funding
will support the research and development studies of InMed’s
cannabinoid pharmaceutical candidates, investigating their
potential therapeutic effects in neurodegenerative diseases. The
collaboration project is entitled “Pharmacological characterization
of phytocannabinoids and the endocannabinoid system.”
InMed's Senior Vice President of Preclinical
Research & Development, Eric Hsu, Ph.D., commented, "We
are pleased that our efforts have led to the identification of two
cannabinoid analog candidates to advance to in vivo studies. Our
team will continue this important research in neurodegenerative
diseases under the NSERC Alliance grant. Our early studies are
showing promising neuroprotective effects as well as neurite
outgrowth, signifying the potential to enhance neuronal function
that may be important in the treatment of neurodegenerative
diseases. This program, in conjunction with the work we are doing
within glaucoma, increases our focus on, and expands our pipeline
within, the neuroprotection space.”
In December 2021, InMed filed an international
patent application demonstrating neuroprotection and enhanced
neuronal function using rare cannabinoids and analogs for the
potential treatment of neurodegenerative diseases such as
Alzheimer’s Disease, Parkinson’s Disease, Huntington’s Disease and
others. The patent specifies such compounds that may inhibit or
slow the progression of neurodegenerative diseases by providing
neuroprotection in a population of affected neurons.
Why pursue cannabinoid analogs?Unlike natural
cannabinoids isolated from the plant which are not patentable,
these cannabinoid analogs are patentable. Benefits may include:
- Targeting certain physiological
outcomes in specific diseases;
- Improving upon the safety profile
of the natural cannabinoids;
- Enhancing the ability to integrate
with specific delivery technologies; and
- Protecting the long-term research
investment and commercial opportunities.
About InMed: InMed
Pharmaceuticals is a global leader in the pharmaceutical research,
development and manufacturing of rare cannabinoids and cannabinoid
analogs, including clinical and preclinical programs targeting
the treatment of diseases with high unmet medical needs. We also
have significant know-how in developing proprietary manufacturing
approaches to produce cannabinoids for various market sectors. For
more information, visit www.inmedpharma.com and
www.baymedica.com.
Investor Contact: Colin ClancyVice President,
Investor RelationsT: +1.604.416.0999E: cclancy@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: Advancing a Neurodegenerative Disease
Program with NSERC Alliance Grant Funding; investigating the
effects of cannabinoid analogs in diseases such as Alzheimer’s,
Huntington’s and Parkinson’s; identifying and advancing two
cannabinoid analogs demonstrating promising effects related to the
treatment of neurodegenerative diseases; conducting studies using
in vivo models in neurodegenerative disease to select the most
appropriate candidate for clinical studies; expecting early
preclinical efficacy readout in 2Q 2023; early studies showing
promising neuroprotective effects as well as neurite
outgrowth, signifying the potential to enhance neuronal function;
expanding our pipeline within, the neuroprotection space; an
international patent application demonstrating neuroprotection and
enhanced neuronal function using rare cannabinoids and analogs;
compounds that may inhibit or slow the progression of
neurodegenerative diseases by providing neuroprotection in a
population of affected neurons and analogs targeting certain
physiological outcomes in specific diseases, Improving upon the
safety profile of the natural cannabinoids, enhancing the ability
to integrate with specific delivery technologies and protecting the
long-term research investment and commercial opportunities.
With respect to the forward-looking information
contained in this news release, InMed has made numerous
assumptions. 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. A complete discussion
of the risks and uncertainties facing InMed’s stand-alone business
is disclosed in InMed’s Annual Report on Form 10-K and other
filings with the Securities and Exchange Commission on
www.sec.gov.
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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