VANCOUVER, Sept. 10, 2018 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a fully integrated, cannabinoid-based biopharmaceutical company that leverages its proprietary biosynthesis platform technology to develop novel therapeutics for the treatment of diseases with high unmet medical needs, today announced that it has filed a Patent Cooperation Treaty ("PCT") application pertaining to the Company's proprietary biosynthesis program for the manufacture of cannabinoids that are identical to those found in nature. This application will provide protection of the biosynthesis technology in over 150 different countries including the United States and claims a priority date from September 5, 2017 (PCT/CA2018/051074). The PCT filing, which is a conversion from the provisional patent filed in September 2017, is an important step in providing intellectual and commercial protection for InMed's biosynthesis platform technology.
"With the conversion of this patent application, we are continuing the process of pursuing commercial protection for our biosynthesis platform technology. As we undertake scale-up activities towards commercialization, today's patent announcement is an important step forward for the Company," said Dr. Eric Hsu, Ph.D., InMed's Vice President of Preclinical Research and Development. Dr. Hsu continued, "This application protects our effort to modulate E. coli's own internal machinery to increase the metabolites needed for the biosynthesis of the cannabinoid. Beyond this patent, we are actively pursuing additional patent applications to further protect our know-how in cannabinoid manufacturing through biosynthesis. These patent applications collectively represent the culmination of three years of dedicated time and resource investment by an extended scientific team."
The PCT is an international patent law treaty, which provides a unified procedure for filing patent applications to protect inventions in each of its member states. There are 151 member countries within the PCT, enabling near-global patent coverage through successful patent prosecution in the U.S., Japan, Europe, Canada, Australia, New Zealand, China, Brazil, Russia, India, as well as many others.
InMed is a pre-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 bioinformatics database drug/disease targeting tool, cannabinoid biosynthesis technology and drug development pipeline are the fundamental value drivers of the Company. For more information, visit www.inmedpharma.com
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: a PCT filing providing intellectual and commercial protection for the Company's proprietary biosynthesis platform technology; undertaking scale-up activities associated with the Company's biosynthesis program; pursuing additional patent applications to further protect the Company's know-how in cannabinoid manufacturing through biosynthesis; and the expected 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: the approval and effectiveness of patent protection; continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; 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: InMed may not be able to obtain intellectual and commercial protection for its technologies; preclinical and clinical testing may not produce the desired results on a timely basis, or at all; regulatory applications may not be approved on a timely basis, or at all; suitable partners may not be located; economic or market conditions may worsen; and InMed's proprietary bioinformatics database drug/disease targeting tool, cannabinoid biosynthesis technology and drug development pipeline may not deliver the expected level of results nor become the fundamental value drivers of the Company. A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's most recent Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR 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.
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SOURCE InMed Pharmaceuticals Inc.
For further information: Investor Contact: InMed Pharmaceuticals Inc., Josh Blacher, Chief Business Officer, T: +1-778-945-0960, E: [email protected]