2023 Off To A Busy Start: Top Cannabis Execs Making Moves, Will They Attend Benzinga's April Event?
Some significant cannabis strides have been made in the development of treatments for epidermolysis bullosa, glaucoma, and neurodegenerative diseases, according to InMed Pharmaceuticals Inc.
The company's work to advance cannabis research and therapies could be a major step forward in the fight against these disabling conditions.
In Med's innovative approach to drug development has attracted the attention of investors as well as medical professionals. Epidermolysis bullosa (EB) is a rare genetic disorder that affects the skin and the mucous membranes. Currently, no effective treatments are available for the disease.
Estimates suggest that up to 50,000 people in the U.S. have EB. In Med is working to develop a therapy that could help reduce the severity of symptoms and improve the overall quality of life for patients.
Glaucoma, a condition that affects the eyes, causing damage to the optic nerve and potentially leading to vision loss, is one of the areas that the company is researching. There are no cures for this disease, which is a leading cause of blindness.
In 2020, it is estimated that 78.6 million people will have eye disease, and the number is likely to increase to 111.8 million in 2040.
Half of those with the disease don't know they're affected. The results of its therapy for the condition have been shown in pre-clinical studies.
The company is working on therapies that could help slow the progression of neurodegenerative diseases. A decline in cognitive and motor functions is caused by neurodegenerative diseases. Alzheimer's, Parkinson's, and Huntington's disease are among the diseases.
There is a business update and goals for the coming years.
If the January 10 update outlining key accomplishments from 2022 is anything to go by, In Med could definitely garner some attention from investors. Business updates and catalysts were provided in the same report.
InMed created a unique offering as the only company that has the breadth and depth in cannabinoid drug research, development and significant manufacturing know-how.
Adams revealed that InMed was able to advance its programs and achieve a number of key milestones despite the economic pressures on businesses. We are very encouraged by the strength of our pharmaceutical programs, with several material milestones anticipated in the coming quarters.
The company raised in excess of $16 million through several financings last year to fund the advancement of pharmaceutical programs and corporate activities this year.
In Med's clinical trial program is moving forward
INM-755, INM-088, and INM-900 are potential treatments for Epidermolysis bullosa, while INM-900 is a potential treatment for Parkinson's disease.
In med hopes to advance research using rare cannabinoids in treating neurodegenerative diseases, such as Alzheimer's, Huntington's and Parkinson's, as well as progress research in preparation for human trials.
A closer look at the company's business update and upcoming milestones shows that the company will have a complete Phase 2 clinical trial in Epidermolysis Bullosa in the first quarter of 2019. In Med hopes to advance research using rare cannabinoids in treating neurodegenerative diseases, such as Alzheimer's, Huntington's and Parkinson's, as well as progress research in preparation for human trials.
There are things that stand for In Med.
INM-755 is a Phase 2 clinical trial for the treatment of Epidermolysis Bullosa.
The company reports that 17 patients have been added to the Phase 2 clinical trial. The company said it would extend the period to the end of March in order to screen more patients.
The clinical trial is evaluating the safety and effectiveness of INM-755 cannabinol cream in treating symptoms of itching, pain and wound healing in patients with epidermolysis bullosa. As the trial is double-blinded, the company notes it will remain blinded to INM-755 treatment outcomes until the last patient has completed treatment.
Advancing towards human trials is the topic of INM-088.
The company plans to conduct several Good Laboratory Practice (GLP) studies in order to conduct human clinical trials for the candidate for the potential treatment for Glaucoma. The company received feedback on the proposed studies and the design of human trials from a pre-IND meeting with the FDA.
Advancing to human trials for a disease with a large patient population will be a significant development for the company. The clinical trial is on track to start in 2024.
INM-900 is a new approach to neurodegenerative diseases.
The non-psychedelic cannabinoids are attractive pharmaceutical agents for targeting neurological disorders because they are highly lipophilic and cross the blood-brain barrier. The neurodegenerative disease program was added to InMed's portfolio.
InMed plans to accelerate its INM-900 program for the potential treatment of Alzheimer's Disease, Parkinson's Disease, and Huntington's Disease. The company said that their research demonstrated the benefits of cannabinoid analogs.
Two cannabinoid analogs are being assessed in a model of neurodegenerative disease in order to see if they can target multiple novel disease pathways instead of the majority of drugs currently in clinical development for these diseases. The studies will be finished and a candidate will be selected for further development in the second quarter of 2023.
The R&D investment is protected by novel cannabinoids.
InMed continues to develop cannabinoid analogs. The company said in an update that the analogs are being screened and developed for targeting specific disease outcomes, safety profiles, and/or pharmacological properties.
In Med is optimistic that the novel cannabinoid analogs are patentable, increasing their commercial attractiveness for internal development or licensing candidates to other drug development companies.
BayMedica has a commercial business.
The company focused on the commercial side of its business after the acquisition of BayMedica in October of 2021.
BayMedica supplied highly pure rare cannabinoids for use in the study to assess the effects of delta-9 THCV on energy, focus and attention, appetite and weight.
Financing and results of operations.
InMed reported in its Q2 fiscal 2023 financial results and business update that the company continues to be a leading producer of cannabichromene with increased revenue in the last two quarters, including a 46% quarter-over-quarter increase. The company said management continues to evaluate strategic options and long-term supply agreements for this business segment.
The company has raised in excess of $16 million through several financings to fund the advancement of pharmaceutical programs and corporate activities this year.
InMed continuously evaluates and pursues business development opportunities that are aligned with its current direction and pharmaceutical programs. The company says it has a projected cash runway that will allow it to hit certain material milestones over the next year, which it believes will increase shareholder value.
The full Q2 fiscal 2023 financial results and business update can be found here.
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Keywords: company,InMed,Clinical Trial,disease
Gov. John Carney on Friday said he would let the bills to legalize marijuana and create a recreational industry become law without his signature, standing down from his aversions to recreational weed that put him at odds with his party.
Delaware is the 22nd state to legalize recreational marijuana, after a nearly decadeslong fight by advocates and Democrats to enact these policies. Carney, in a statement, said he still believes legalizing weed is “not a step forward.”
“I want to be clear that my views on this issue have not changed,” the governor said in a statement. “And I understand there are those who share my views who will be disappointed in my decision not to veto this legislation.
“I came to this decision because I believe we’ve spent far too much time focused on this issue, when Delawareans face more serious and pressing concerns every day. It’s time to move on.”