VANCOUVER, Sept. 25, 2018 /PRNewswire/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN;OTCQX:IMLFF), a fully integrated, cannabinoid-based biopharmaceutical company that leverages its proprietary platform technologies 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 INM-405 program and other unique compositions as cannabinoid-based topical therapies for the treatment of pain, which is an important step in protecting the Company's intellectual and commercial property. The patent application, entitled "Methods and Composition for the Treatment of Pain with Cannabinoids" is designed to provide protection of the Company's INM-405 program in over 150 different countries including the United States and claims a priority date from September 22, 2017 (PCT/CA202018/051194).
Dr. Eric Hsu, Ph.D., InMed's Vice President of Preclinical Research and Development commented, "While there are numerous pharmaceutical products to treat both acute and chronic pain, the increase in the number of prescriptions for the opioid class of products (oxycodone, hydrocodone, morphine, methadone, fentanyl, etc.) has led to concerns as these products can be highly addictive and have damaging side effects, including death." According to the United States Centers for Disease Control and Prevention, since 1999, the number of overdose deaths involving opioids (including prescription opioids and heroin) quadrupled, as have the number of prescriptions for opioids, yet there has been no increase in the amount of pain reported in the general population. Thus, there is a need to find alternative treatments for chronic and severe pain that are non-addictive and have limited side effects. "InMed is researching the potential of non-THC (THC is a psychoactive ingredient in cannabis) cannabinoids to treat pain using a proprietary topical formulation," Dr. Hsu continued.
"There remains a significant need in the field of analgesia for a product that can treat pain via a topical route of administration, which would reduce systemic exposure and any associated side effects," said Dr. Sazzad Hossain, Chief Scientific Officer of InMed Pharmaceuticals and a co-inventor on the patent. "InMed's focus on non-THC cannabinoids further reduces concerns regarding addiction, a key concern in pain management."
InMed's study results were published in the European Journal of Pain in July 2017 and highlighted the topical application of THC to successfully treat peripheral pain. The foundation of this patent is the unreported data on non-THC cannabinoids and their ability to modulate pain. The patent cites a range of cannabinoids, alone or in combination, applied topically to treat various types of pain – muscle, nerve, arthritis-induced joint pain, etc.
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: developing novel therapeutics for the treatment of diseases with high unmet medical needs; a PCT filing providing intellectual and commercial protection for the Company's unique compositions as cannabinoid-based topical therapies for the treatment of pain; 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.
NEITHER THE TORONTO STOCK EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE InMed Pharmaceuticals Inc.