InMed Pharmaceuticals, Inc. (OTCQB: IMLFF) is engaged as a biopharmaceutical company that specializes in CBD-based treatments. Shares of CBD-based treatment developer are rallies 11.11%, through early trading on Tuesday, September 12, 2017. Over the past month, InMed Pharmaceuticals, Inc. has seen average daily volume of 289,171 shares. However, volume of 631,192 shares or dollar volume of $189,357, has already exchanged hands on Tuesday.
Shares of InMed Pharmaceuticals, Inc. are gaining today, after the company filed a provisional patent for the biosynthesis of CBDs. The company plans to continue protecting its intellectual property and process and conversions into national-stage filings. Here is the full press release detailing of the provisional patent for biosynthesis:
InMed Pharmaceuticals, Inc. Press Release:
VANCOUVER, Sept. 12, 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, today announces the filing of a provisional patent application pertaining to the Company’s proprietary biosynthesis program for the manufacture of cannabinoids that are identical to those found in nature.
The patent application, once converted into an international Patent Cooperation Treaty (PCT) application and pursued in key jurisdictions throughout the world, will provide significant commercial protection for InMed’s E. coli-based expression system to manufacture any of the 90+ cannabinoid compounds that may have a medical impact on important human diseases.
This will be the first in a series of patent applications directed to various aspects of the Company’s biosynthesis program. In particular, these applications focus on the superior nature of E. coli-based expression systems over other approaches; gene optimization for maximizing the production of cannabinoids and related compounds; and other proprietary developments and data. The company will actively convert this and subsequent provisional patents into national-stage filings in all major commercial jurisdictions, in due course.
InMed’s cannabinoid biosynthesis program is one of three core assets, which also include the bioinformatics assessment tool to target specific cannabinoids against important diseases, as well as the drug development program, which includes INM-750 for Epidermolysis bullosa and INM-085 for glaucoma.
“This novel approach to the biosynthesis of cannabinoids is a game-changer for drug development. The importance of producing cannabinoids that are identical to the naturally occurring compounds cannot be overstated. Many drug development efforts with synthetic derivatives have failed,” say Dr. Vikramaditya Yadav, Assistant Professor of Chemical and Biological Engineering at University of British Columbia, a co-inventor of the biosynthesis technology. “In our extensive experimentation, the E. coli system is more robust and more efficient for the manufacturing of cannabinoids as compared to other microbial platforms.”
The PCT is an international patent law treaty, which provides a unified procedure for filing patent applications to protect inventions in each of its member states. There are 151-member countries within the PCT, enabling near global patent coverage through successful patent prosecution in the U.S., Japan, Europe, Canada, Australia, New Zealand, China, Brazil, Russia, India and many other countries.
About InMed Pharmaceuticals, Inc.
InMed Pharmaceuticals, Inc. 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.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the relative superiority of E. coli expression systems over other yeast-based approaches; the Company’s ability to covert provisional patents to PCT filings; the potential issuance of such PCT patents; the expected fundamental value drivers of the Company; and others. 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 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.