InMed Pharmaceuticals Synthesizes Rare Cannabinoids To Treat Glaucoma, Skin Disease

Summary

• InMed Pharmaceuticals went public last November.
• The company is developing the application of rare cannabinoids to treat glaucoma and skin disease.
• They have a method for synthesizing bio-identical cannabinoids from enzymes.
• The company is funded by direct offerings and operates at a net loss without revenue.
• I give the company a neutral rating and recommend investors watch their research and stock.

Source: Company

InMed (NASDAQ:INM), publicly listed back in November, has dedicated their research to the medical applications of rare cannabinoids. The company has two completed phase 1 clinical studies. They have designed a system for making bio-identical cannabinoids from enzymes. They have patents for their medical applications and unique cannabinoid production. Since they are a biotechnology research company, an investor should, at this stage, consider their medical research and potential value. I recommend that one watches the company’s stock and I give them a neutral rating for now.

The company’s business strategy may be found in their recent investor presentation. Their current progress is summarized in their Q2-2021 investor letter. The company has focused their research on the therapeutic applications of rare cannabinoids, beginning with cannabinol (CBN). They are interested in topical applications for skin and ocular disease. Because CNB is difficult to concentrate, the company has designed a manufacturing system for making bio-identical CNB from enzymes. They call it IntegraSyn.

The two cannabinoids most abundant on the cannabis flower are THC and CBD, but there are 100s of other cannabinoids found on the flower, which all have different healing properties and effects on the human body. They are called rare because they are less abundant than THC and CBD and accordingly are more difficult to concentrate for medical applications. It is inefficient to produce rare cannabinoids concentrated from traditional plant harvesting and processing. InMed has chosen a production method using enzymes to make bio-identical pharmaceutical grade rare cannabinoids.

Their clinical studies in dermatology concern the treatment of a rare genetic skin disease, Epidermolysis bullosa (EB), which causes the skin to blister, shear, and become wounded. There is no panacea for treating the condition. If proven effective, the company’s CBN topical cream may become a main treatment for EB and other skin conditions. Its applications will

Analyst’s Disclosure:I am/we are long INM. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.