InMed Pharmaceuticals, a leader in the manufacturing and clinical development of rare cannabinoids, has signed a definitive agreement to acquire BayMedica Inc., a private, U.S.-based company that specializes in the manufacturing and commercialization of rare cannabinoids. According to the announcement, the acquisition is expected to be final in the coming weeks, subject to standard closing conditions.
The strategic move is designed to firmly establish INM as a leader in the manufacturing and commercialization of rare cannabinoids as well as strengthen the company’s position within growing consumer health and wellness cannabinoid markets. The acquisition includes BayMedica’s pipeline and several planned product launches, which will help InMed transition into a revenue-generating company. With the acquisition, InMed anticipates becoming a global leader in the manufacturing of rare cannabinoids, with expertise in three distinct and complementary cannabinoid manufacturing approaches. The company anticipates that its proprietary cannabinoid manufacturing process, IntegraSyn(TM), combined with BayMedica’s synthetic biology and chemical synthesis capabilities, will provide flexibility to choose the most appropriate, cost-effective manufacturing method based on the cannabinoid and appropriate quality specifications for the desired market segment.
Read full article in Benzinga.