VANCOUVER, July 2, 2019 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a biopharmaceutical company developing a proprietary biosynthesis technology for cannabinoid-based pharmaceuticals to treat severe diseases, today announced the appointment of Catherine Sazdanoff, JD, to its Board of Directors.
Ms. Sazdanoff joins InMed's Board with 35 years of experience in the healthcare industry. She held various global VP roles in business development and corporate development at Takeda Pharmaceuticals, which she joined in 2006. Prior to Takeda, Ms. Sazdanoff served in senior global legal and pharmaceutical business roles at Abbott Laboratories since 1984, including litigation, international commercial and transactional legal roles, marketing, and business development. At both companies, she completed numerous collaborations and transformational M&A transactions, including Abbott's acquisition of Knoll Laboratories (including the mega-blockbuster drug Humira®), and Takeda's acquisitions of Millennium Pharmaceuticals and Nycomed S.A.
Ms. Sazdanoff is an independent director of the Board of Meridian Bioscience, Inc. (NASDAQ: VIVO). She is currently President and CEO of Sazdanoff Consulting LLC, where she acts as Business Advisor to Strata Oncology, Inc., a private precision oncology company, and works with other healthcare companies on strategy and corporate/business development. Ms. Sazdanoff has a BA in English from the University of Notre Dame, and a JD from Northwestern University School of Law.
"We are enthusiastic to welcome Catherine to our Board of Directors at an exciting time in the Company's evolution," commented Eric A. Adams, President and Chief Executive Officer. "Her diverse business development and legal experience, built from over 35 years in the pharmaceutical industry, will be important as we accelerate the development of our therapeutic pipeline and scale-up our innovative biosynthesis platform technology. Importantly, Catherine's rich experience in pharma deal making will be highly beneficial to InMed as our assets mature and we begin strategizing about potential transactions."
"InMed has unique opportunities to bring significant medical advances to important patient populations with its differentiated cannabinoid-based therapeutic pipeline and novel biosynthesis manufacturing technology," stated Ms. Sazdanoff. "I am delighted to join the team and look forward to working closely with the Company's management as InMed drives towards long-term value creation."
InMed Pharmaceuticals is a biopharmaceutical company developing a proprietary biosynthesis system for the manufacturing of pharmaceutical-grade cannabinoids, as well as a pipeline of cannabinoid-based medications that target diseases with high unmet medical needs. 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.
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: Ms. Sazdanoff joining the Company's Board of Directors; accelerating the development of our therapeutic pipeline and scaling-up our innovative biosynthesis platform technology; potential transactions; bringing significant medical advances to important patient populations with its differentiated cannabinoid-based therapeutic pipeline and novel biosynthesis manufacturing technology; long-term value creation; and developing a proprietary biosynthesis platform technology for the manufacturing of pharmaceutical-grade cannabinoids as well as an R&D pipeline of medications targeting diseases with high unmet medical needs.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: Ms. Sazdanoff's continued availability; continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; the ability to contract with suitable partners; 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: Ms. Sazdanoff may become unwilling or unable to serve on the Company's Board of Directors; 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; cannabis licensing/importing issues may delay our projected development timelines; suitable partners may not be located; economic or market conditions may worsen; our existing cash runway may not allow us to complete our forthcoming significant milestones; and the development of a proprietary biosynthesis platform technology for the manufacturing of pharmaceutical-grade cannabinoids as well as an R&D pipeline of medications targeting diseases with high unmet medical needs may not be as successful as desired, if at all. 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: +1.646.452.7045, E: [email protected]