InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) commenced the 2nd Phase 1 clinical trial of cannabinol (CBN) based cream – INM-755 to cure EB (Epidermolysis Bullosa) by dosing the subject.
Evaluates tolerability and safety
InMed will evaluate the CBN-based cream tolerability/ safety in a vehicle-controlled, double-blinded, and randomized Phase 1 trial. It will apply the cream in healthy individuals on epidermal wounds daily. The trial is for 14 days, and two strengths of the cream will be applied to eight adults.
InMed is also conducting a clinical trial on 755-102-HV at Leiden, the Netherlands based Centre for Human Drug Research. It expects to report the results of both the clinical trials in H2 2020.
The market for EB
The demand for EB worldwide expects to grow at a CAGR of 5% during 2019-2020. It will surge by $304.67 million during this period with fund support from private organizations and governments.
The prevailing treatments for EB have some side effects. Therefore, the governments/ private agencies are pumping in funds for research to eliminate the side effects and offer an effective and safe treatment for EB.
Companies offering treatment for EB
Major companies that offer a cure for EB are Novartis, Johnson & Johnson, Fresenius, Amryt Pharma, and Pfizer.
Consolidates common shares
In its efforts to get listed on NASDAQ, InMed consolidated its common shares based on 33 pre-consolidation to 1 share of post-consolidation. The company expects to commence trading of its shares with effect from July 3, 2020, on receipt of the approval from TSX (Toronto Stock Exchange). It will begin trading on OTCQX Best Markets with effect from July 6, 2020, because July 3 is an independence day in the US. Post consolidation, InMed shares will reduce to 5.22 million from 172.3 million.
Introduces a new method for pharmaceutical-grade cannabis
InMed introduced a new technique called IntegraSyn for the manufacture of medical-grade cannabis. IntegraSyn combines traditional drug production techniques with biosynthesis to achieve economies of scale and manufacture superior quality cannabinoids.
According to a communiqué on May 5, 2020, InMed is developing IntegraSyn in collaboration with contract manufacturing and development organizations. IntegraSyn facilitates the easy conversion of one cannabinoid to another.
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