InMed Pharmaceuticals Inc. (“InMed” or the
“Company”) (Nasdaq: INM), a leader in the research, development,
manufacturing and commercialization of rare cannabinoids, is
pleased to announce it has launched B2B sales of the rare
cannabinoid delta 9-dominant tetrahydrocannabivarin (“d9-THCV”)
into the health and wellness sector via its wholly-owned
subsidiary, BayMedica LLC (“BayMedica”).
“We are very excited to launch our highly
anticipated d9-THCV and further enhance BayMedica’s growing product
portfolio,” stated Shane Johnson, MD, SVP and General Manager of
BayMedica. “THCV is one of the few rare cannabinoids that has been
researched in early clinical trials for various therapeutic
effects, fueling significant interest by end-product manufacturers
and consumers alike. In anticipation of this launch, we have
expanded internal sales and marketing infrastructure, developed new
distribution channels and optimized the supply chain to ensure a
consistent and reliable supply of a high quality product. As this
market continues to mature, we are well positioned to be a leading
supplier of rare cannabinoids to the health and wellness industry.
We currently have several high-value, rare cannabinoids in various
stages of commercial development and will continue to expand our
cannabinoid portfolio over the coming years”.
THCV – What is it and why the growing
interest?
Although similar in name and structure to its
intoxicating cousin THC, THCV has a slightly modified structure
that leads to significantly different physiological effects,
including being non-intoxicating. In addition, while THC is
found abundantly in many strains of the Cannabis plant, THCV is a
rare cannabinoid that is generally found in only trace amounts in
the plant.
D9-THCV has been researched for a variety of
physiological benefits, most notably for its appetite suppressing
effects, making it a compelling compound for use in weight
management. It has also attracted interest for its potential
ability to help maintain normal blood sugar levels and has been
studied for a myriad of other effects.
InMed is committed to developing products based
on scientific evidence, and as previously announced, BayMedica has
supplied d9-THCV to be evaluated in Radicle Science’s “Radicle
Energy” study on energy, focus/attention, appetite and weight/body
mass index (“BMI”). The study is being conducted to provide
valuable third party validation of the potential effects of
d9-THCV.
Delta 9 vs. Delta 8 – An important
differentiator
As compared to d8-THCV, d9-THCV is the
naturally-occurring variant found in the Cannabis plant, has
specifically been the subject of the vast majority of scientific
research into the potential effects of THCV, and is significantly
more difficult to manufacture. BayMedica manufactures a
d9-dominant THCV to high purity via a proprietary process.
BayMedica’s cannabinoids are made in accordance with food-grade GMP
standards and are rigorously tested at certified laboratories. Like
all BayMedica minor cannabinoid products, d9-THCV can be combined
in precise ratios with other cannabinoids to create unique health
and wellness products.
Commercial Opportunity - Increasing
demand for rare cannabinoids
With the availability of these rare cannabinoids
at commercial scale, product manufacturers and consumer brands now
have the ability to deliver differentiated products, including
augmenting existing CBD-based products, to consumers in the health
and wellness marketplace. With flexibility across multiple
manufacturing approaches, and its ability to scale up to meet
market demand, BayMedica is well positioned to take advantage of
this rapidly growing industry.
This emerging market is expected to grow
significantly due to the increasing awareness of the potential
benefits of cannabinoid-based products. According to the December
2021 Grand View Research report, the retail market for rare
cannabinoids is expected to reach US$26 billion by 2028 with a
forecasted compounded annual growth rate (CAGR) of >20% during
the same period. [U.S. Minor Cannabinoids Market Size Report,
2021-2028 (grandviewresearch.com)]
For more information on how to purchase d9-THCV
and other rare cannabinoids, please reach out to the BayMedica
sales team at: orders@baymedica.com
To learn more about d9-THCV: Tetrahydrocannabivarin (THCV)
| BayMedica /
Learn more about InMed’s Cannabinoids in Development:
https://www.inmedpharma.com/pharmaceutical/cannabinoids-in-development/
About InMed: InMed
Pharmaceuticals is a global leader in the research, development,
manufacturing and commercialization of rare cannabinoids. Together
with its subsidiary BayMedica LLC, the Company has unparalleled
cannabinoid manufacturing capabilities to serve a spectrum of
consumer markets, including pharmaceutical and health and wellness.
InMed is also a clinical-stage company developing a pipeline of
rare cannabinoid therapeutics and dedicated to delivering new
treatment alternatives to patients that may benefit from
cannabinoid-based pharmaceutical drugs. For more information,
visit www.inmedpharma.com and www.baymedica.com.
Investor Contact: Colin ClancyVice President
Investor Relations and Corporate CommunicationsT: +1.604.416.0999E:
cclancy@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: launched B2B sales of the highly
anticipated rare cannabinoid d9-THCV; THCV being one of the few
rare cannabinoids that has been reserched in early clinical trials
for various therapeutic effects; fueling significant interest by
end-product manufacturers and consumers developing new distribution
channels and optimizing the supply chain to ensure a consistent and
reliable supply of a high quality product; being well positioned to
be a leading supplier of rare cannabinoids to the health and
wellness industry; having several high-value, rare cannabinoids in
various stages of commercial development and will continue to
expand our cannabinoid portfolio over the coming years; D9-THCV has
been researched for a variety physiological benefits, including
appetite suppressing effects, making it a compelling compound for
use in weight management and help maintain normal blood sugar
levels; BayMedica manufactures a d9-dominant THCV to high purity
via a proprietary process and are made in accordance with
food-grade GMP standards and are rigorously tested at certified
laboratories; 9-THCV can be combined in precise ratios with other
cannabinoids to create unique health and wellness products; product
manufacturers and consumer brands now have the ability to deliver
differentiated products, including augmenting existing CBD-based
products; BayMedica’s ability to scale up to meet market demand,
means they are well positioned to take advantage of this rapidly
growing industry; emerging market is expected to grow significantly
due to the increasing awareness of the potential benefits of
cannabinoid-based products; according to the December 2021 Grand
View Research report, the retail market for rare cannabinoids is
expected to reach US$26 billion by 2028 with a forecasted
compounded annual growth rate (CAGR) of >20% during the same
period; being a global leader in the research, development,
manufacturing and development of rare cannabinoids; and delivering
new treatment alternatives to patients that may benefit from
cannabinoid-based pharmaceutical drugs.
With respect to the forward-looking information
contained in this news release, InMed has made numerous
assumptions. 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. A complete discussion
of the risks and uncertainties facing InMed’s stand-alone business
is disclosed in InMed’s Annual Report on Form 10-K and other
filings with the Security and Exchange Commission on
www.sec.gov.
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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