Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

#Cannabisstocks: InMed Pharmaceuticals (TSX:IN; OTCQX:IMLFF) Receives Funding from the Government of Canada to Support Development of Novel #Cannabinoid Biosynthesis Program

 

VANCOUVER - December 4, 2018 (Investorideas.com Newswire) 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 that it has signed a contribution agreement with the National Research Council Canada Industrial Research Assistance Program ("NRC IRAP") to receive funding of up to C$500,000 to support InMed's ongoing R&D efforts in cannabinoid biosynthesis. NRC IRAP provides advisory services and funding to Canadian businesses to promote accelerated growth and technology innovation.

In particular, funding from NRC IRAP will be applied to improve production of the different components of the terpenoid biosynthetic pathway, a pre-cursor of cannabinoid production, as well as research and development supporting up-stream and down-stream scale-up activities conducted by InMed's contract development and manufacture organizations. The funding will be received over the next 18 months. The Company also continues its efforts to further diversify the number of cannabinoids produced using its technology platform.

"Manufacturing of pharmaceutical grade cannabinoids remains a major challenge to the industry," commented Dr. Eric C. Hsu, Ph.D., InMed's Vice President, Pre-Clinical Research & Development. Dr. Hsu continued, "We are extremely honored to receive this non-dilutive investment from NRC IRAP. This funding will support our on-going efforts to establish a leadership position in the field of cannabinoid biosynthesis."

About InMed:

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; receiving the NRC IRAP funding over the next 18 months; applying the NRC IRAP funding to improve production of the different components of the terpenoid biosynthetic pathway as well as up-stream and down-stream scale-up activities conducted by InMed's CDMOs; further diversifying the number of cannabinoids produced using InMed's technology platform; leading the field of cannabinoid biosynthesis; 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 availability and timing of NRC IRAP's funding; 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: the NRC IRAP funding may not be received over the anticipated schedule, if at all; the NRC IRAP funding may not be applied as currently anticipated; InMed may not be able to improve production of the different components of the terpenoid biosynthetic pathway or the up-stream and down-stream scale-up activities conducted by InMed's CDMOs; InMed may not be able to diversify the number of cannabinoids produced using its technology platform; InMed may not establish a leadership position in the field of cannabinoid biosynthesis; 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.

NEITHER THE TORONTO STOCK EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: InMed Pharmaceuticals Inc.

Investor Contact:

InMed Pharmaceuticals Inc.
Josh Blacher
Chief Business Officer
T: +1-778-945-0960
E: jblacher@inmedpharma.com


Marijuana / Hemp / Cannabis Stocks at Cannabisinvestorideas.com and Investorideas.com

Investorideas Potcasts is on Facebook  Follow Investorideas Potcasts on Twitter  Investorideas Potcasts is on Instagram  Investorideas Potcasts is on LinkedIn Group 

Investorideas.com potcasts - Listen Daily to Investor Ideas Potcasts #Cannabis News and Stocks on the Move

Check out our stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana / Hemp Stocks

Follow Pot stocks news - Get News Alerts on Marijuana Stocks


Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Investor Ideas does not condone the use of cannabis except where permissible by law. Our site does not possess, distribute, or sell cannabis products.