NEW YORK, May 4, 2018 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced InMed Pharmaceuticals Inc. (TSX: IN;OTCQX: IMLFF), a cannabinoid-focused biopharmaceutical company, has qualified to trade on the OTCQX® Best Market. InMed Pharmaceuticals upgraded to OTCQX from the OTCQB® Venture Market.
InMed Pharmaceuticals begins trading today on OTCQX under its existing over-the-counter symbol "IMLFF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome InMed Pharmaceuticals to the OTCQX Best Market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "Upgrading to OTCQX will allow InMed Pharmaceuticals, a recent graduate to Canada's Toronto Stock Exchange, to continue to build visibility with U.S. investors. We congratulate the Company on reaching these important milestones and look forward to continuing to support the Company's growth."
"As we begin to approach major milestones this year, particularly in the advanced pre-clinical development of our lead product, INM-750 for the treatment of Epidermolysis Bullosa, as well as important scale-up milestones for our proprietary cannabinoid biosynthesis technology, the migration to the OTCQX Best Market will help optimize our visibility with U.S.-based institutional and retail investors, as well as enhance our liquidity," stated Josh Blacher, InMed's Chief Business Officer. Mr. Blacher continued, "Going forward, we're hopeful that trading on OTCQX will assist us in driving shareholder value and recognition of our proprietary drug-disease targeting platform and novel biosynthesis process, which we anticipate will support the development of cannabinoid-based therapeutic compounds designed to treat multiple diseases with high unmet medical needs."
InMed Pharmaceuticals was sponsored for OTCQX by Dorsey & Whitney LLP, a qualified third-party legal firm responsible for providing guidance on OTCQX requirements and recommending membership.
About InMed Pharmaceuticals Inc.:
InMed is a preclinical stage biopharmaceutical company specializing in the research and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. InMed conducts research, discovery, preclinical, regulatory, manufacturing and commercial development activities for its product candidates. InMed's proprietary bioinformatics platform, its biosynthesis manufacturing process and its drug development programs are the fundamental value drivers of the Company. For more information, visit www.inmedpharma.com.
About OTC Markets Group Inc.:
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
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OTC Markets Group Inc., +1 (212) 896-4428, firstname.lastname@example.org
InMed Pharmaceuticals Inc.
Josh Blacher, Chief Business Officer
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: InMed approaching major milestones in the coming year, optimizing its visibility with U.S.-based institutional and retail investors, enhancing its liquidity, and driving shareholder value; InMed's proprietary drug-disease targeting platform and novel biosynthesis process supporting the development of cannabinoid-based therapeutic compounds designed to treat multiple diseases with high unmet medical needs; 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: 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: InMed's listing on the OTCQX may not optimize its visibility with U.S.-based institutional and retail investors, enhance its liquidity, nor drive shareholder value; InMed's proprietary bioinformatics platform, biosynthesis manufacturing process and drug development programs may not support the development of cannabinoid-based therapeutic compounds designed to treat multiple diseases with high unmet medical needs nor become the fundamental value drivers of the Company; and economic or market conditions may worsen. 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 OTC Markets Group Inc.