InMed Pharmaceuticals Signs Agreement with the National Research Council of Canada for Cannabinoid Biofermentation Process Development and Scale-Up
TSX:IN
OTCQX:IMLFF
VANCOUVER, Oct. 3, 2018 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a cannabinoid-based biopharmaceutical company that leverages its proprietary platform technologies to develop novel therapeutics for the treatment of diseases with high unmet medical needs, is pleased to announce entering into a research agreement with the National Research Council of Canada (NRC) in Montreal, Canada, for biofermentation development and scale-up processes for cannabinoid biosynthesis in E.coli.
InMed's Vice President, Pre-Clinical Research & Development, Eric Hsu, Ph.D., commented, "The NRC has significant biofermentation expertise and extensive facilities to support InMed's scale-up activities. The NRC will help us define specific process parameters to improve fermentation scale and product yield needed for InMed to maximize the commercial potential of our proprietary E.coli based cannabinoid biosynthesis system. This work is the natural progression of several years' history in designing cannabinoid-specific vectors at the University of British Columbia and the next step in reaching our goal of establishing a leadership position in the field of cannabinoid biosynthesis."
About InMed:
InMed is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed's proprietary bioinformatics database drug/disease targeting tool, cannabinoid biosynthesis technology and drug development pipeline 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: developing novel therapeutics for the treatment of diseases with high unmet medical needs; entering into a research agreement with the NRC; optimizing fermentation conditions and process scale-up for manufacturing cannabinoids via E. coli biosynthesis; leading the field of cannabinoid biosynthesis; 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: continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; 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: InMed and NRC may terminate their agreement; the agreement with NRC may not yield the desired results; preclinical and clinical testing may not produce the desired results on a timely basis, or at all; regulatory applications may not be approved on a timely basis, or at all; suitable partners may not be located; economic or market conditions may worsen; and InMed's proprietary bioinformatics platform, biosynthesis manufacturing process and drug development programs may not deliver the expected level of results nor become the fundamental value drivers of the Company. 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.
Investor Contact: InMed Pharmaceuticals Inc., Josh Blacher, Chief Business Officer, T: +1-778-945-0960, E: [email protected]
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