By Frehiwote Negash –
As the marijuana debate continues to dominate headlines on both sides of the border, there are emerging players that have taken the pharmaceutical approach by developing therapeutic options using cannabinoids and testing their effectiveness via clinical trials. As marijuana gains traction as a viable medical option, it is not surprising to see the pharmaceutical companies like Otsuka, Novartis, Eli Lilly and GW Pharma all getting involved in therapy development using cannabinoids in what could be a lucrative opportunity.
In light of changing public perception, Vancouver based InMed Pharmaceuticals (C: IN, OTCQB: IMLFF) formally known as Cannabis Technologies has been on a tear in recent weeks with their share price nearly tripling. After reaching a low of $0.11 in December, the company has rebranded and teamed up with Tiberend Strategic Advisors to increase their exposure to the American market, particularly in the biotech world and is creating buzz. The price was bolstered by their recent showing at the J.P Morgan Biotech show in January and their latest announcement of a new therapy for Epidermolysis bullosa simplex; a genetic skin condition that makes the epidermis fragile and causes it to blister. This foray into developing dermatological therapies makes sense if you consider that there are no FDA approved drugs on the market for this condition. This is the third therapy in the companies’ roster of treatments with therapies for glaucoma and arthritic joint pain already in the pipeline.
While the development of new cannabinoid-based therapies is vital to the company’s fortunes, what distinguishes InMed from their competition is their unique proprietary platform technology. The platform is designed to accelerate the process in which drugs go through the requisite clinical trials and receive government approval for public consumption. Instead of the standard 10-15 year wait for FDA approval, the platform allows for development and commercialization within 3-5 years. If time is of the utmost importance, then InMed has struck gold with this platform.
Investor interest is high and for good reason. With world renowned Dr. Sazzad Hossien, Ph.D., as their Chief Scientific Officer and the recent additions of Dr. Tarek Mansour, Ph.D., a veteran in the pharmaceutical sector, and Kevin Puil, a reputable investment manager on the Board of Directors, InMed has a brilliant management team with extensive knowledge in the pharmaceutical industry and the knowhow to capitalize on a growing market. InMed will be holding an Interactive Investor Webcast on March 5th at 1:15 PM EST. This is a golden opportunity for investors to look at a company with tons of potential and a promising future.
Source: InMed Pharmaceuticals , CNN Money