Vancouver, BC – August 6, 2015 – InMed Pharmaceuticals Inc. (“InMed”) (CSE: IN; OTCQB: IMLFF),a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based therapies combined with innovative drug delivery systems, announced today that it has obtained positive response from its pre-clinical research on INM-750 tested in various in vitro assays. The INM-750 is a proprietary phytocannabinoid based compound for the treatment of epidermolysis bullosa simplex (EBS), a rare genetically inherited skin disorder. INM-750 is designed to modulate skin growth, differentiation and inflammation that are signature characteristics of EBS.
Dr. Sazzad Hossain, Chief Scientific Officer of InMed, stated, “There are different sub-types of EBS caused by mutations of various keratin genes such as keratin 5, keratin 14 or keratin 15 etc. By modulating the expression of various keratin genes that are responsible for cytoskeleton intermediate filaments and/or wound healing using INM-750, we hoped to alleviate the EBS symptoms. Our preliminary results clearly validate this approach since INM-750 displayed modulation of expression of various keratin genes.”
Craig Schneider says, “We are very pleased that we have again demonstrated the ability and efficiency of our platform technology (“IDP”) to discover novel therapies in disease areas with large unmet medical needs. We have successfully employed our “IDP” for the discovery of INM-750 (see News Release May 26, 2015) which validates our in-silico approach to drug discovery by these positive pre-clinical results.”
InMed anticipates commencing human proof of concept clinical studies of INM-750 in February, 2016 with initial data expected by Q3 2016 after which InMed will seek orphan drug designation for INM-750 with the US Food and Drug Administration (FDA).
About Epidermolysis bullosa simplex (EBS)
Epidermolysis bullosa simplex (EBS) is one of the major forms of Epidermolysis bullosa, a group of genetic conditions that cause the skin to be very fragile and to blister easily. It is a result of a defect in anchoring between the epidermis and dermis, resulting in friction and skin fragility. Its severity ranges from mild to lethal. As of today there is no cure or effective treatment. Currently, wound care, pain management and preventative bandaging are the only options available for treatment.
InMed is a 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 platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company. For more information, visit www.inmedpharma.com.
ON BEHALF OF THE BOARD
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 commencing human proof of concept clinical studies of INM-750 in February, 2016 with initial data expected by Q3 2016; seeking orphan drug designation for INM-750 with the US Food and Drug Administration (FDA); and the 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: continued favourability of clinical trials; continued 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 possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results; risks associated with obtaining funding from third parties; risks related to the timing and costs of clinical trials; the receipt of regulatory approvals; InMed’s proprietary platform technology, product pipeline and accelerated development pathway may not return their expected level of value; and economic or market conditions may worsen.
A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed’s continuous disclosure filings with Canadian securities regulatory authorities 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 CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.