The Dales Report Host Shadd Dales spoke with InMed CEO, Eric A. Adams, about plans for 2022.
Excerpt from The Dales Report:
Listed on the Nasdaq just over one year ago, InMed Pharmaceuticals acquired U.S. based cannabinoid manufacturer Bay Medica in October. While cannabis hasn’t exactly been hot on the stock market in recent weeks, CEO Eric Adams told The Dales Report in a recent interview that retail investors shouldn’t lump in cannabinoid-focused companies with ones focused on cannabis.
“I think people need to separate in their minds the cannabis industry itself, and what’s happening with cannabinoids,” he said.
InMed focuses on two specific areas: the health and wellness space, where the cannabinoids it manufactures are sold to brands who incorporate them into end products like gummies, topicals, and so on; and the pharmaceutical space, where Adams said the company is slowly but surely gaining momentum.
“We kind of straddle both of those worlds and have nothing to do with the cannabis world, per se—that’s a whole different group of companies. From the health and wellness sector, things are continuing to expand, and there’s new rare cannabinoids coming to the market all the time.”
Based on what Adams has seen in 2021, he said “the foundation is set” at InMed to see significant growth over the next year, with human studies on the horizon.
Adams also pointed out that interest from Big Pharma in cannabinoids is already materializing, based on the recent announcement that Pfizer will acquire Arena Pharmaceuticals, a company with cannabinoid pharmaceuticals in its portfolio.
InMed’s acquisition of BayMedica was a highlight of the year for Adams, who said the company brings with it a revenue stream, a team of biotech and pharmaceutical experts with plenty of experience in research and development, and a suite of patents, one of which looks at cannabinoid analogues.