- Proprietary biosynthesis process to produce cannabinoids
- Cannabinoid bioinformatics system that identifies optimal R&D pathways
- Lead candidate targeting billion dollar market
Despite the awe-inspiring shadow cast by the moon on August 21, 2017, there’s no eclipse in sight for InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF). The Vancouver, Canada-based company continues its research and development (R&D) into the therapeutic benefits of cannabinoids, an activity that holds the promise of exceedingly rich reward. Peer valuations have skyrocketed, increasing the likelihood that unicorns may soon appear on the cannabis biotech landscape. With a triad of valuable core assets, it won’t be surprising if, sometime in the future, InMed turns out to be one of them.
InMed Pharmaceuticals has more to offer than the typical drug discovery and development company. Its triple play comprises a proprietary technology based on biosynthesis, a bioinformatics system, and a robust drug development pipeline, any one of which may propel this innovative biotech to success. The company has developed a process to manufacture cannabinoids by applying cannabinoid DNA to Escherichia-coli (E. coli) bacteria. The E. coli DNA is then removed, leaving just the cannabinoid DNA, which can then replicate in a process known as biosynthesis. Biosynthesis is widely employed in the pharmaceutical industry and is used, for example, to manufacture the insulin upon which millions of diabetics rely.
InMed’s bioinformatics system, employing proprietary algorithms, identifies the cannabinoids most likely to have beneficial therapeutic effect in serious diseases with high unmet medical needs. The program integrates data from numerous bioinformatics databases, including a database on the structure of currently approved pharmaceutical products and an extensive proprietary database of over 90 individual cannabinoid drugs found in cannabis. This bioinformatics tool has already identified several therapies, including the company’s two lead pipeline candidates, INM-750 and INM-085.
INM-750 is for the treatment of a rare genetic connective tissue disorder called epidermolysis bullosa (EB). EB is an orphan pediatric disease characterized by extremely fragile skin that affects roughly one out of every 20,000 births in the United States. The condition, which currently has no approved treatment or cure, has been called “The Worst Disease You’ve Never Heard Of” by the Dystrophic Epidermolysis Bullosa Research Association of America. INM-750 works by replacing missing keratins in the skin with specially selected cannabinoids in an effort to modulate the painful manifestations of EB. It has potential global market revenues of approximately $1 billion.
INM-085 targets glaucoma, a leading cause of blindness, according to the Glaucoma Research Foundation. The drug reduces the elevated intra-ocular pressure that is often associated with glaucoma and so holds the promise of providing relief to the more than three million Americans who currently have glaucoma.
Both INM-750 and INM-085 are in the pre-clinical phase, and InMed is taking the lead with the former, which it is hoping to advance to phase I clinical trials in 2018. If all goes well, INM-750 is expected to be in phase III by 2020, setting InMed on a trajectory, if peer comparisons are any indication, to a much higher valuation than its current one of under $50 million. Scioderm, for example, was acquired by Amicus two years ago for $847 million. This acquisition was based on the results of a phase II study of its sole clinical asset Zorblisa, which involved only 42 patients. Zorblisa, for the treatment of EB, is currently in phase III.
InMed’s pipeline is in good hands. Its chief scientific officer is Dr. Sazzad Hossein, who brings more than 20 years of academic and industrial experience in new drug discovery and natural health product development to the C-suite. He was, at one time, group leader and senior scientist at Biotechnology Research Institute of National Research Council Canada, the Government of Canada’s prime biotechnology research organization, where he set up a pharmacology laboratory to evaluate the safety and efficacy of new drugs under development in the areas of cancer and cardiovascular and ocular diseases. He is also the author of more than 40 peer-reviewed papers, primarily in the pharmacology, genetics and nutritional sciences.
InMed’s chief medical officer is Dr. Ado Muhammed. Muhammed joined the company from GW Pharmaceuticals, developer of Sativex, where he was associate medical director, distinguishing InMed as the only biopharmaceutical company in North America with a senior GW team member on its executive team.
For more information, visit the company’s website at www.InMedPharma.com
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