InMed Pharmaceuticals Inc. (NASDAQ: INM) Advances Therapies Targeting Neurodegenerative Diseases

  • INM is advancing INM-089 targeting age-related macular degeneration and INM-901 targeting Alzheimer’s disease
  • The company recently posted positive results for INM-089 demonstrating significant functional and pathological improvements in an AMD disease model
  • Recent preclinical data for INM-901 displayed positive pharmacological effects for treating Alzheimer’s disease
  • INM posted a business update for Q3-2024 reporting a closing cash position of US$7.9 million and revenue growth for subsidiary BayMedica, a supplier of rare cannabinoids as ingredients

InMed Pharmaceuticals (NASDAQ: INM), a is a clinical stage pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed’s pipeline consists of three separate programs in the treatment of Alzheimer’s, ocular and dermatological indications. The company recently released several critical updates regarding its INM-089 therapy treating dry Age-related Macular Degeneration (“AMD”) and its INM-901 small molecule drug candidate targeting Alzheimer’s disease (“AD”).

Recent preclinical data for INM-089 demonstrated significant functional and pathological improvements in an AMD disease model, indicating promising neuroprotective effects in the back of the eye. “We are very excited with the data from recent preclinical studies demonstrating both significant functional and pathological improvements from INM-089 in the AMD model,”  said Dr. Eric Hsu, SVP of Preclinical Research and Development at INM (https://cnw.fm/ZCsET).

“While a few treatment options are currently available, their efficacy is limited and may be associated with several undesirable side effects. We see an opportunity for INM-089 to slow the progression and to fill a significant gap in the treatment of this chronic disease.”

INM-901 is currently being investigated for its potential in treating Alzheimer’s disease. Recent preclinical data showcased its positive pharmacological effects, demonstrating reduced neuroinflammation and improved neuronal function, among other promising outcomes. The small molecule drug, acting as a preferential signaling ligand for CB1/CB2, delivers improved retinal pigment epithelium integrity, neuroprotection, and photoreceptor improvement in an in vivo preclinical disease model.

“The recent results demonstrating pharmacological effects in in vivo disease models continue to validate INM-901 as a potential treatment of AD,” said Dr. Eric Hsu (https://cnw.fm/BYzq7). “There continues to be a major unmet medical need for this multi-factorial disease and differentiated therapeutic mechanisms may play an important role. We believe the development of INM-901 may address several pathological factors including neuroinflammation, neuroprotection and neuritogenesis.”

InMed additionally provided a business update for the third quarter of fiscal year 2024, highlighting progress in its pharmaceutical pipeline and commercial business growth (https://cnw.fm/H62nJ). Highlights included a closing cash position of US$7.9 million and strong revenue growth for its subsidiary BayMedica, a B2B supplier of rare cannabinoids as ingredients to the health and wellness sector.

InMed Pharmaceuticals Inc. stands at the forefront of cannabinoid research, pioneering advancements in the development of proprietary small molecule drug candidates targeting different specific receptors. With an experienced management team leveraging expertise in pharmaceutical research, manufacturing, and commercialization, the company is advancing novel therapies to address unmet medical needs across a spectrum of diseases and disorders.

For more information, visit the company’s website at www.InMedPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM

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