INMED AWARDED GRANT FOR PROPRIETARY NANOPARTICLE-BASED DELIVERY SYSTEM FOR GLAUCOMA THERAPY
News Release – April 15, 2015 – InMed Pharmaceuticals Inc. (“InMed”) (CSE: IN; OTCQB: IMLFF), a clinical stage biopharmaceutical company that specializes in developing safer, more effective cannabinoid-based therapies, today announced that it has been awarded a grant to further develop the Company’s proprietary nanoparticle-based delivery system for their leading drug candidate CTI-085 for glaucoma. Initial formulation, in vitro & in vivo development is currently underway in collaboration with members of the Department of Chemical & Biological Engineering at the University of British Columbia. The grant from Mitacs, a leading Canadian non-profit organization that accelerates innovative projects through strategic academic and industry collaboration, is partially funding the ongoing development of the delivery system and is the second grant awarded to InMed from Mitacs.
The Mitacs grant was awarded to Dr. Maryam Kabiri, Ph.D., a researcher with extensive experience in developing nanoparticle-based delivery systems. Dr. Kabiri will be working with Prof. Vikramaditya G. Yadav, whose research focuses on metabolic & enzyme engineering and customized novel biosynthetic enzymes that can convert biomass-derived feedstock into better fuels, pharmaceuticals and value-added chemicals. In conjunction with InMed, the Mitacs grant will be utilized to develop a novel delivery system for glaucoma therapy.
Dr. Sazzad Hossain, Chief Scientific Officer, states, “We are pleased to have met the Mitacs funding criteria for the advancement of our proprietary glaucoma delivery system. Not only does this bring us closer to our goals of initiating our Phase 1 trial, but it furthers our business development strategy of having a proprietary delivery system that can be licensed with existing drugs endangered by patent expiration. This “therapy extension” strategy used by drug makers can be a valuable asset to InMed upon successful completion of the program. Additionally, the incorporation of an existing medicine into a new drug delivery system can significantly improve its performance in terms of efficacy, safety, and improved patient compliance.”
About Mitacs
Mitacs is a national, private not-for-profit organization that develops the next generation of innovators with vital scientific and business skills through a suite of unique research and training programs, such as Mitacs-Accelerate, Elevate, Step, Enterprise and Globalink. In partnership with companies, government and universities, Mitacs is supporting a new economy using Canada’s most valuable resource – its people.
For more information on Mitacs, visit www.mitacs.ca.
About InMed
InMed is a clinical stage biopharmaceutical company that specializes in developing cannabis based 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.