Vancouver, BC – March 18, 2015 – InMed Pharmaceuticals Inc. (“InMed”) (CSE: IN; OTCQB: IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabis-based therapies, today announced that it has initiated a program to identify and evaluate cannabinoid compounds for the treatment of chronic orofacial pain. Initial drug discovery and preclinical development is currently underway in collaboration with members of the Faculty of Pharmaceutical Sciences at the University of British Columbia. The work is being funded by a grant from Mitacs, a leading Canadian organization that accelerates innovative projects through strategic academic and industry collaboration.
Dr. Sazzad Hossain, CSO, states “Pain in the orofacial region is one of the more complex and difficult-to-treat conditions for patients and clinicians. Current treatments are limited in terms of efficacy and are fraught with considerable side effects. Recent advances in cannabinoid pharmacology have renewed hope for these patients with the exciting prospect of safer, more effective cannabis-based treatments. Under this collaboration Inmed will investigate the role of cannabinoid receptors in chronic orofacial pain, including neuropathic pain, muscle pain and arthritis of the jaw joint.”
A Mitacs grant was awarded to Dr. Hayes Wong, a Ph.D. level researcher, with extensive experience in developing orofacial models of pain. Dr. Wong will be working with Prof. Brian Cairns a specialist in research for chronic pain above the neck. In conjunction with InMed, the Mitacs grant will be utilized to screen selected InMed compounds in orofacial pain models.
Mitacs is a national, private not-for-profit organization that develops the next generation of innovators with vital scientific and business skills through a suite of unique research and training programs, such as Mitacs-Accelerate, Elevate, Step, Enterprise and Globalink. In partnership with companies, government and universities, Mitacs is supporting a new economy using Canada’s most valuable resource — its people.
For more information on Mitacs, visit www.mitacs.ca.
InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis based therapies through the Research and Development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMeds’ Proprietary Platform Technology, Product pipeline and accelerated development pathway are the fundamental value drivers of the Company.
ON BEHALF OF THE BOARD
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.