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INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) Progressing with Cannabinoid Glaucoma Treatment

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INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) shares went from .25 cents per share to .70 cents in one short month. Then, shares fell back to as low as .34 cents as common shareholders experience volatility around the company getting the proper funding. The company is a biopharmaceutical company specializing in the research and development of cannabinoid-based drug therapies. Recently, IMLFF announced the filing of a provisional patent application in the United States for INM-085 as a cannabinoid-based topical therapy for glaucoma, which is an important step in legitimizing this therapy.

Glaucoma is a group of eye diseases resulting in damage to the optic nerve and vision loss. Worldwide, it is the second-leading cause of blindness. The current global market for drug therapies to treat glaucoma exceeds US$5 billion. Risk factors for glaucoma include: increased pressure in the eye, a family history of the condition, migraines, high blood pressure, and obesity. Investigators studying patient adherence to glaucoma medications have identified multiple factors related to poor adherence, including more frequent and complex dosing regimens.

INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) is developing a stimulus-responsive, nanoparticle-laden vehicle for controlled delivery of ophthalmic drugs into the aqueous humor of the eye. The first applications of this vehicle will be for INM-085 as a cannabinoid-based topical therapy to reduce the intraocular pressure associated with glaucoma. INM-085 is intended for application as a once-per-day eye drop administered immediately prior to the patient’s bedtime, intending to assist in reducing the high rate of non-adherence with current glaucoma therapies.

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Additionally, this novel, proprietary delivery system for ophthalmic drugs may also play an important role in enabling other companies’ proprietary ophthalmic drug candidates. Lastly, it may re-invigorate the commercial potential of off-patent products benefiting from a once-a-day dosing regimen. IMLFF plans to initiate discussion with potential partners to this end.

The company also announced it has entered into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Eight Capital along with Roth Capital Partners, LLC serving as placement agent. They have agreed to purchase, on an underwritten basis, 11,120,000 Units of the Company  at a price of $0.45 per Unit, for aggregate gross proceeds of $5,000,400. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant. Each Warrant will have an exercise price of $0.65 per common share and will be exercisable for a period of 24 months following the closing date. The Warrants will only be exercisable on a net cashless basis on the five-day volume-weighted average trading price of the common shares of the Company on the Canadian Securities Exchange ending on the date immediately preceding the date of exercise.

In addition, the company has granted the Underwriters an option to purchase up to 1,668,000 additional Units. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering to the Company will be $5,754,600.

INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) intends to use the net proceeds from the Offering for the following purposes: to support the continued research and development of INM-750 for the treatment of Epidermolysis Bullosa. In addition, IMLFF to further develop the company’s other research and development programs including its biosynthesis assets.

Price volatility around raising capital for operations always tests the mettle of the shareholders. IMLFF needs to do this to accomplish the goals they set for 2017 and beyond.  Currently trading at a market cap of $17.77M, it is the common shareholders who must endure this volatility. The most important thing with the Bio-Pharma sector is believing in the product and the story. In light of the soaring cannabis market, IMLFF’s product could have bankers swirling around this novel eye treatment. We will keep an eye on InMed as they get traction with a fresh round of operating capital. For continuing coverage on shares of IMLFF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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