VANCOUVER, June 13, 2017 /PRNewswire/ - InMed Pharmaceuticals, Inc. ("InMed" or the "Company") (CSE: IN; OTCQB: IMLFF), a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based drug therapies, is pleased to announce it has signed an agreement with Pharmaseed Ltd, Israel's largest GLP-certified pre-clinical contract research organization, to develop a final formulation for InMed's lead compound, INM-750, a proprietary, topical cannabinoid product candidate intended as a therapy in epidermolysis bullosa and other potential dermatological and wound-healing applications.
"This agreement with Pharmaseed now adds one of Israel's leading formulation development teams to our efforts and represents an important strategic relationship as we move INM-750 towards our first clinical trial," stated Eric A. Adams, CEO of InMed.
Under the agreement, Pharmaseed will develop a final formulation for INM-750 for continued R&D including IND-enabling pharmacology and toxicology studies and subsequent clinical studies. Also included under the scope of the contract is the development of assay methods for manufacturing, stability, quality assurance and other analytical methods.
Pharmaseed is Israel's largest GLP private research organization leading in the development of life-science early stage technologies from discovery to the first in man/patient stage. The company specializes in both efficacy proof-of-concept studies and safety evaluation in various animal models, as well as complementary formulation development and in vitro/ex-vivo services. Its core competence lies in the area of translational and regenerative medical projects with main expertise in: Stem Cell, CNS, Pain, Cancer, Angiogenesis, Inflammation, Dermatology, Metabolic disorders, Infectious diseases and Medical devices. Over 50% (40) of the company's employee have PhD degrees representing many years of experience in academic and applied scientific research activity.
InMed is a preclinical stage biopharmaceutical company specializing in the research and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. InMed conducts research, discovery, preclinical, clinical, regulatory, manufacturing and commercial development activities for its product candidates. InMed's proprietary bioinformatics database assessment tool, the biosynthesis manufacturing process and its drug development programs are the fundamental value drivers of the Company. 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 final formulation for INM-750 being used for IND-enabling pharmacology and toxicology studies and subsequent clinical trials 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: 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: a formulation for INM-750 that is suitable for advancing it to IND-enabling pharmacology and toxicology studies and subsequent clinical trials may not be attainable; InMed's proprietary platform technology, product pipeline and drug development programs may not return their expected level of value.
A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com. In addition, readers should review the disclosure under the heading "Risk Factors" in the Final Prospectus, once filed. 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 CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.