Vancouver, BC – May 4, 2016 – InMed Pharmaceuticals Inc. (“InMed” or “the Company”) (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 is currently engaged in a process to explore a range of strategic alternatives to enhance shareholder value. InMed is a biotechnology company focused on the discovery and development of phytocannabinoids as prescription based medicines. The company’s lead programs are targeting epidermolysis bullosa (EB) and rare pediatric skin disease, and glaucoma.
The Company has retained Midtown Partners & Co, LLC as its advisor to assist the Company in exploring multiple strategic alternatives. The Company stated that there can be no assurance that the exploration of strategic alternatives will result in any transaction being entered into or consummated. The Company has not set a timetable for completion of this process unless or until the Board has approved a definitive course of action.
Additionally, the company would like to announce two personnel changes to the company: effective May, 5th 2016 Paul Brennan will be leaving the company in his role as President and CEO, and Tarek Mansour will leave his position from the Board of Directors. Mr. Brennan will continue to be involved with the company as a strategic advisor and on the Board, and remains a shareholder of InMed. Upon Mr Brennan’s resignation, Chris Bogart, SVP, will take on the responsibilities as interim CEO.
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
Contact: InMed Pharmaceuticals Inc.
E: [email protected]
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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.
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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.
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