InMed Pharmaceuticals Inc (INM)

[lesgetrich]

From Revive's February 22 PR...

Revive Therapeutics Announces Term Sheet with InMed Pharmaceuticals for the Discovery and Development of Cannabinoid-Based Therapy Targeting Kidney Diseases

Subject to satisfaction of remaining conditions, Revive and InMed will endeavor to enter into a definitive agreement within 30 days of the execution of the term sheet. Pursuant to the signing of a definitive agreement, InMed will grant Revive the exclusive worldwide rights to develop and commercialize the target cannabinoid(s) discovered from InMed's proprietary in silico drug/disease targeting technology. Under the term sheet, InMed will receive an upfront payment and will be eligible to receive additional milestone payments upon achievement of certain predefined pre-clinical clinical, regulatory and commercial targets, as well as royalties on commercial sales. The term sheet agreement is not binding and remains subject to further negotiation and definitive documentation. Further announcements will be made on the status of this transaction, and the details of the commercial terms.

Revive will be using InMed's bioinformatics system to create it's Kidney Disease drug. Revive doesn't have its own Bioinformatics system or else feels InMed has superior technology. I'm sure there may be other companies using software to explore different drug combinations but I doubt if any other company has a system as sophisticated as InMed's that specifically targets cannabinoids. InMed's technology is patented.