VANCOUVER, Nov. 5, 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 the appointment of Michael Woudenberg, P.Eng. as Vice President, Chemistry, Manufacturing, and Controls (CMC).
Mr. Woudenberg joins InMed with over twenty years of leadership experience in process engineering, development and commercialization of pharmaceutical products. Prior to joining InMed, Mr. Woudenberg served as Managing Director at Phyton Biotech, where he was responsible for the operations and manufacturing of active pharmaceutical ingredients (API) from plant cell fermentation, including contract development and manufacturing services to global pharmaceutical companies. Prior to Phyton Biotech, Mr. Woudenberg held senior CMC-related positions at Arbutus Biopharma and Cardiome Pharmaceuticals. Mr. Woudenberg earned his degrees in chemistry and chemical engineering from the University of Western Ontario.
Eric A. Adams, InMed's President and CEO, commented, "During the next year, InMed will be making an important transition from a pre-clinical stage company to a clinical stage company; this is seminal milestone for us. To successfully make this transition, it's imperative that we build our internal expertise in CMC for both our clinical stage products, as well as to support the evolution of our proprietary biosynthesis manufacturing technology towards commercial scale-up." Mr. Adams continued, "Michael's extensive experience, professional accomplishments and leadership skills will be a significant contribution towards the Company's success. We are fortunate and excited to bring Michael on board."
"It's clear to me that InMed's biosynthesis technology is cutting-edge, and has the potential to lead the industry in this emerging field of alternative manufacturing of pharmaceutical-grade cannabinoids," commented Mr. Woudenberg. "I'm excited to join InMed's experienced leadership team and look forward to working with my new colleagues to help accomplish InMed's mission."
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; the appointment of Michael Woudenberg, P.Eng. as Vice President, Chemistry, Manufacturing, and Controls; transitioning from a pre-clinical stage to a clinical stage company during the next year; building our internal expertise in CMC; Mr. Woudenberg's expected contribution towards the Company's success; the potential for InMed's biosynthesis technology to lead the industry in the emerging field of alternative manufacturing of pharmaceutical-grade cannabinoids; 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: Mr. Woudenberg's continued availability; 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: Mr. Woudenberg may cease to be willing or able to serve the Company; the Company may not transition from a pre-clinical stage to a clinical stage company during the next year, or at all; the Company may not be able to build an internal expertise in CMC; Mr. Woudenberg may not deliver the expected contribution towards the Company's success; InMed's biosynthesis technology may not lead the industry in the emerging field of alternative manufacturing of pharmaceutical-grade cannabinoids; 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.