VANCOUVER, May 14, 2018 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a fully integrated, cannabinoid-based biopharmaceutical company that leverages its proprietary biosynthesis platform technology to develop novel therapeutics for the treatment of diseases with high unmet medical needs, today announced it has filed a Patent Cooperation Treaty ("PCT") application for INM-085 as a cannabinoid-based topical therapy for glaucoma, which includes protection of its technology in about 150 different countries including the United States, and claims a priority date from May 8, 2018 (PCT/CA2018/050548). The PCT filing, which is a conversion from the provisional patent filed in May, 2017, is an important step in providing intellectual and commercial protection for this therapy.
"With the filing of this patent application, we are continuing the process of pursuing commercial protection for our novel technologies, in this case until May 2038. This is particularly important to the Company as we undertake additional pre-clinical studies of INM-085, as well as pursue initial discussion with potential partners," said Eric A. Adams, InMed's President and Chief Executive Officer. Mr. Adams continued, "While glaucoma is certainly a significant opportunity, we believe that our innovations offer solutions beyond this single indication. Our research in this program validates InMed's first-in-class technology, which integrates our proprietary drug-disease targeting platform, efficient biosynthesis process for cannabinoid manufacturing, and delivery of therapeutic products to targeted diseased tissues."
InMed is developing a stimulus-responsive, nanoparticle-laden vehicle for controlled delivery of ophthalmic drugs into the aqueous humor of the eye. The first applications of this vehicle will be for INM-085 as a cannabinoid-based topical therapy to reduce the intraocular pressure associated with glaucoma. INM-085 is intended for application as a once-per-day eye drop administered immediately prior to the patient's bedtime, intending to assist in reducing the high rate of non-adherence with current glaucoma therapies. Additionally, this novel, proprietary delivery system for ophthalmic drugs may also play an important role in enabling other companies' proprietary ophthalmic drug candidates or re-invigorating the commercial potential of off-patent products that would benefit from a once-a-day dosing regimen.
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
About INM-085. InMed is developing a stimulus-responsive, nanoparticle-laden vehicle for controlled delivery of ophthalmic drugs into the aqueous humor of the eye. The first application of this delivery vehicle will be for INM-085 as a cannabinoid-based topical therapy targeting reduction of the intraocular pressure associated with glaucoma as well as being designed to serve as a neuro-protectant to the retinal ganglion cells. INM-085 is intended for application as a once-per-day eye drop administered immediately prior to the patient's bedtime, intending to assist in reducing non-adherence with current glaucoma therapies. Additionally, this novel, proprietary delivery system for ocular drugs may also play an important role in enabling other companies' proprietary ocular drug candidates or re-invigorating the commercial potential of off-patent products that would benefit from a once-a-day dosing regimen.
About Glaucoma. Glaucoma is a group of eye conditions that damage the optic nerve, which is vital to good vision. This damage is often caused by an abnormally high pressure in your eye. It is the second leading cause of blindness worldwide. It can occur at any age but is more common in older adults. The most common form of glaucoma has no warning signs. The effect is so gradual that you may not notice a change in vision until the condition is at an advanced stage. Vision loss due to glaucoma can't be recovered.
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: providing intellectual and commercial protection for INM-085 and our other novel technologies; undertaking additional pre-clinical studies of INM-085; initiating discussions with potential partners; InMed's technology being first-in-class; developing a stimulus-responsive, nanoparticle-laden vehicle for controlled delivery of ophthalmic drugs into the aqueous humor of the eye; the potential of INM-085 to treat glaucoma; the potential applications of our proprietary delivery system for other ocular drugs; 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: the approval and effectiveness of patent protection; 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 may not be able to obtain intellectual and commercial protection for its technologies; 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 database drug/disease targeting tool, cannabinoid biosynthesis technology and drug development pipeline 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.