In a conference call and webcast on February 15, 2022, Eric A. Adams, President and Chief Executive Officer of InMed Pharmaceuticals (NASDAQ: INM), emphasized the company’s successful product diversification and strategic acquisition achievements. Most notably, he expressed his optimism regarding the company’s expansion into the health and wellness sector as an ingredient supplier, coupled with the integration of BayMedica’s operations and team into its ongoing activities (www.cnw.fm/x7dza).
While noting how recent product launches have allowed the company to top its revenue estimates, Mr. Adams was also keen to point out its ongoing commitment to launch even more products in the coming months. He reiterated the company’s plan to execute more programs designed to grow its market reach, product portfolio, and increase overall growth.
“We are committed to further product launches in the immediate term to build out a robust suite of products to meet the needs of the rapidly evolving health and wellness sector,” he noted.
“At the same time, our pharmaceutical drug development programs continue to advance in both preclinical and clinical studies and we continue to expand InMed’s intellectual property portfolio, supporting sequential growth opportunities to hit important milestones across all aspects of our business,” he added.
Mr. Adams also touched on the company’s commercial initiatives, manufacturing, pharmaceutical development programs, corporate activities, financing activities, and results of operations.
He highlighted the ongoing INM-755 clinical study, a Phase 2 clinical trial on the INM-755 cream for the treatment of epidermolysis bullosa that commenced in September 2021. Mr. Adams reiterated that this study, which enrolled up to 20 patients, is expected to be done during the 2022 calendar year. He also touched on the UNM-008 research for the treatment of glaucoma, for which the company is preparing for a pre-investigational New Drug (“PIND”) meeting with the United States Drug Administration (“FDA”) within the coming weeks, and commencement of regulatory applications within the first half of the 2023 calendar year.
The corporate update also highlighted the acquisition of BayMedica, which, InMed acknowledges, opens it to multiple advanced manufacturing approaches that afford it the flexibility to select the most cost-effective method to produce rare cannabinoids of interest. To further strengthen its operations on this front, the company has announced the appointment of Gerald (“Jerry”) P. Griffin III as the new Vice president of Sales and Marketing at BayMedica (www.cnw.fm/p5Gom).
Mr. Griffin will be responsible for overseeing the commercialization of BayMedica’s health and wellness business, covering both existing products and the launch of new rare cannabinoid alternatives.
Mr. Griffin lends his years of experience, having worked in various markets with different cannabinoid products. In addition, he has served in senior positions in multiple companies, including Fortune 500 companies. With that, he brings significant real-world knowledge across the entire value chain to the company.
“We are very excited to welcome Jerry to the InMed/BayMedica family. Jerry is joining the team as a strong strategic leader and has the requisite experience to oversee the commercial ramp-up of B2B sales of rare cannabinoids products to the consumer health and wellness market,” noted Shane Johnson, the Senior Vice president (“SVP”) and General Manager of BayMedica.
Jerry’s appointment aligns with InMed’s plan to introduce new products in the market, particularly unique high-demand rare cannabinoids. It also reflects its commitment to accelerate its commercial activities and grow its market share in this segment.
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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