CannabisNewsWire Company Spotlight

InMed Pharmaceuticals Inc. (NASDAQ: INM) is a global leader in the development, manufacture and commercialization of rare cannabinoids for pharmaceutical and consumer health and wellness applications. InMed is a clinical stage company developing a pipeline of cannabinoid-based pharmaceutical drug candidates, as well as manufacturing technologies for pharmaceutical-grade rare cannabinoids.

The company is dedicated to delivering new therapeutic alternatives to treat conditions with high unmet medical needs. The company is also developing a proprietary manufacturing technology to produce pharmaceutical-grade rare cannabinoids in the lab.

In October 2021, InMed announced its acquisition of BayMedica Inc., a private U.S. firm specializing in the manufacture and commercialization of rare cannabinoids for the health and wellness sector. BayMedica, now operating as a subsidiary of InMed, is a revenue-stage biotechnology firm leveraging its significant expertise in synthetic biology and pharmaceutical chemistry to develop efﬁcient, scalable and proprietary manufacturing approaches to produce high quality, regulatory-compliant rare cannabinoids for consumer applications.

Recent Coverage

InvestorNewsBreaks - InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Close on $6M Private Placement Funding

November 22, 2022 8:30 AM

InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, has closed on a private placement with two healthcare-focused institutional investors. The placement included the sale of 1,818,185 INM common shares, which were issued at a purchase price of $3.30 per share (or prefunded warrant in lieu thereof); the shares were priced at-the-market under NASDAQ rules. The announcement also noted that InMed issued unregistered preferred investment options to the investors in the offering to purchase up to 3,272,733 common shares. The offering resulted in approximately $6 million in gross proceeds for the company, which plans to use the funds to continue pipeline development of its pharmaceutical drug candidates as well as advance manufacturing know-how of cannabinoids and cannabinoid analogs; the company may also use portions of the proceeds to support intellectual property development and other commercial activities and for general working capital purposes. According to the announcement, H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

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