VANCOUVER, May 12, 2020 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol ("CBN"), today announced that it has filed a Patent Cooperation Treaty ("PCT") application pertaining to the potential of cannabinoids in the prevention of neuron damage associated with glaucoma.
The patent application, entitled "Compositions and Methods for Use of Cannabinoids for Neuroprotection" represents an important step in protecting the Company's intellectual property and commercial opportunities.
"Glaucoma remains a common and debilitating ocular disease for millions of people worldwide. It is characterized by hallmark symptoms of increased intraocular pressure with associated progressive, irreversible damage to the retinal ganglion cells ("RGC") and the optic nerve," remarked Dr. Eric Hsu, InMed's Senior Vice President of Preclinical Research and Development. "In addition to significant anecdotal evidence of specific cannabinoids decreasing intraocular pressure, our preclinical data suggest certain cannabinoids, and particularly CBN, may offer an additional neuroprotective effect for RGC."
With INM-088, an eye drop formulation of CBN, the Company is exploring the treatment for glaucoma, either as a prospective stand-alone or an adjunct therapy, and in other ocular diseases where neuroprotection may be of benefit.
Glaucoma is a neurodegenerative disease in which various triggers, including elevated intraocular pressure, induce a cascade of events which ultimately leads to nerve cell death and an irreversible loss of vision. Currently approved glaucoma therapies are typically intended to decrease intraocular pressure, which may lead to an indirect effect of reducing neuron damage in the eye. However, some patients fail to show improvement even after intraocular pressure reduction, and others develop glaucoma in the absence of elevated intraocular pressure. As of 2010, there were 44.7 million people in the world with 'open angle' glaucoma, the most common form of the disease, of which 2.8 million were in the United States. By the end of 2020, the prevalence is projected to increase to 80 million worldwide with 3.4 million the United States.
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.
About InMed: InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (CBN) in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines. For more information, visit www.inmedpharma.com.
About INM-088: InMed is developing INM-088 as a cannabinol (CBN) eye drop formulation targeting reduction of the intraocular pressure associated with glaucoma as well as being designed to serve as a neuroprotectant to the retinal ganglion cells (RGC) and optic nerve.
About Glaucoma: Glaucoma is a group of eye conditions characterized by abnormally high pressure in the eye, which can damage the membranes of the retina and the head of the optic nerve, leading to blindness. Glaucoma is the second leading cause of blindness worldwide and can occur at any age but is more common in older adults.
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: leading the way in the clinical development of cannabinol ("CBN"); a PCT filing providing intellectual and commercial protection; the potential of cannabinoids, in particular CBN, to prevent neuron damage associated with glaucoma; the potential for INM-088, either as a stand-alone or an adjunct therapy, to treat glaucoma and other ocular diseases where neuroprotection may be of benefit; INM-088 reducing intraocular pressure and acting as a neuroprotectant to the retinal ganglion cells and optic nerve; developing a pipeline of cannabinoid-based medications in diseases with high unmet medical need; and delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the ability to recruit appropriate test subjects; continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; the effectiveness of patent protection; 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 outbreak and impact of COVID-19 may worsen; INM-088 may not proceed with the anticipated timeline and structure, or at all; PCT filings may not provide the Company with intellectual and commercial protection; InMed may not be able to advance its other product candidates on a timely basis, or at all; regulatory filings may not be filed or approved on a timely basis, or at all; clinical trials may not proceed as anticipated; economic or market conditions may worsen; InMed's proprietary biosynthesis manufacturing process and drug development programs may not deliver the expected level of results; and InMed may not be able to provide new therapeutic alternatives that benefit patients via cannabinoid-based medicines. 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., Brendan Payne, Director - Investor Relations, T: +1.604.669.7207, E: [email protected]; Edison Advisors for InMed Pharmaceuticals: Joe Green/Ethan Walfish, T: +1.646.653.7030/+1.646.760.0321, E: [email protected], [email protected]