VANCOUVER, May 5, 2020 /PRNewswire/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol ("CBN"), today announced that it is working with the Almac Group (UK) ("Almac") on a proprietary approach to augment current biosynthesis-based methods for cannabinoid production.
Over the last several months, InMed and Almac have been engaged in developing a streamlined cannabinoid manufacturing process, specifically optimizing the upstream cannabinoid assembly processes as well as downstream purification, to achieve cost efficient, GMP-grade active pharmaceutical ingredients for prescription-based medications.
"InMed's research and development teams have been working diligently in identifying an approach that integrates several existing pharmaceutical manufacturing processes to enable cannabinoid production," said InMed's Senior Vice President, Preclinical Research & Development, Dr. Eric Hsu. "An essential part of our effort has been drawing on the extensive experience and 'best practice' expertise of leading contract development and manufacturing organizations. Almac brings extensive knowledge and a successful track record to this effort, from early process development to commercial-scale manufacturing. We look forward to continuing our combined efforts in optimizing different aspects of the cannabinoid manufacturing process."
Prof. Tom Moody, Almac's VP of Technology Development and Commercialisation added, "Working with the InMed team on, what we all believe may become, a state-of-the-art approach to cannabinoid manufacturing has been an exciting challenge. Our companies continue to make steady progress in several areas across multi-disciplinary research including enzyme engineering, process design and development and downstream processing."
About InMed:InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (CBN) in diseases with high unmet medical need. 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.
About Almac Group:The Almac Group is an established contract development and manufacturing organization providing an extensive range of integrated services across the drug development lifecycle to the pharmaceutical and biotech sectors globally. Its innovative services range from R&D, biomarker discovery development and commercialization, API manufacture, formulation development, clinical trial supply, Interactive Response Technology through to commercial-scale manufacture. Almac is an international, privately-owned organization which has grown organically over the past five decades now employing over 5,600 highly skilled personnel across 18 facilities including Europe, the US and Asia. For more information please visit almacgroup.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: leading the way in the clinical development of cannabinol ("CBN"); developing a proprietary approach to augment current biosynthesis-based methods for cannabinoid production; achieving cost efficient, GMP-grade active pharmaceutical ingredients for prescription-based medications; continuing to optimize different aspects of the cannabinoid manufacturing process; developing a state-of-the-art approach to cannabinoid manufacturing; continuing to make progress across several areas of multi-disciplinary research; developing a pipeline of cannabinoid-based medications in diseases with high unmet medical need; and delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the ability to successfully optimize necessary cannabinoid manufacturing production processes; 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 outbreak and impact of COVID-19 may worsen; the cannabinoid manufacturing process may not proceed with Almac on the anticipated timeline and structure, or at all; InMed may not be able to advance its other product candidates on a timely basis, or at all; 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; InMed's proprietary biosynthesis manufacturing process and drug development programs may not deliver the expected level of results; and, InMed may not be able to provide new therapeutic alternatives that benefit patients via cannabinoid-based medicines. 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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SOURCE InMed Pharmaceuticals Inc.