Pre-clinical studies of INM-750 to commence February, 2015
Third Program Discovered Through InMed’s Proprietary Drug Design Platform
Vancouver, BC — February 3, 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 added a new therapy to its pipeline: INM-750, for the treatment of epidermolysis bullosa simplex (EBS), a rare genetically inherited skin disorder. INM-750 is designed to suppress pathological skin growth, differentiation and inflammation that are signature characteristics of EBS.
InMed anticipates commencing pre-clinical studies of INM-750 in February, 2015 with initial data expected by Q2 2015. The initiation of INM-750 signals InMed’s entry into the dermatological market and adds to the Company’s rapidly advancing pipeline of cannabis-based therapeutics, which includes CTI-805 for glaucoma and CT-091 for arthritis, both of which are expected to enter human clinical studies in 2015.
“We are pleased to continue the strategic diversification of our pipeline by adding a third therapy identified by our proprietary platform technology,” said Craig Schneider, President & CEO of InMed. “The discovery of INM-750 furthers our corporate strategy of developing therapies for diseases that may be approved for Orphan drug designation.”
Sazzad Hossain, Ph.D., M.Sc., Chief Scientific Officer of InMed, stated, “EBS is a rare keratin mutation-related disease with no FDA approved treatment. The only options available to patients are wound care, pain management, and preventative bandaging. More severe forms of the disease lead to scarring, disfigurement, disability, and early death, usually before the age of 30.”
Craig Schneider concluded, “We are working rapidly to advance the development of INM-750 to address this significant unmet medical need.”
About Epidermolysis bullosa simplex (EBS)
Epidermolysis bullosa simplex (EBS) is 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. The more severe forms of the disease lead to scarring, disfigurement, disability and early death, usually before the age of 30.
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
Amy Wheeler (Media)
Forward Looking Statements
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Additionally, there are known and unknown risk factors which could cause InMed Pharmaceuticals 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.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed Pharmaceuticals 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.
These risks and uncertainties 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 and the receipt of regulatory approvals.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.