InMed Pharmaceuticals Inc (INM)

[PharmaGreen007]

Dr. Sazzad Hossein's old company traded as high as $18.46 on Tuesday, after a $9 IPO on November 5th. The market cap was over $200 million on its 5th trading day, and closed today at $13.42

Market Cap
$182.11 M
Shares Outstanding
13.58 M
Public Float
9.38 M

The primary reason for the high valuation was Dr. Sazzad's discovery (XEN402)

From a Xenon Piece:

"The company’s most advanced product candidate is TV-45070 (formerly XEN402). Teva is currently conducting a 300-patient, randomized Phase 2b clinical trial of TV-45070 in osteoarthritis of the knee. The company is currently planning additional development of TV-45070 in neuropathic pain indications."

http://finance.yahoo.com/news/ipo-filing-xenon-pharmaceuticals-134009754.html ;

Now read this from Dr. Sazzad's Linkedin:

Associate Director- Drug Discovery
Xenon Pharmaceuticals Inc.
December 2006 – October 2008 (1 year 11 months)Burnaby. BC. Canada
Recruited from University of British Columbia and away from assistant professorship offer at a U.S. university by Professor Michael Hayden. Earned rapid promotion from Senior Scientist to Associate Director while simultaneously serving as principal scientist in development of mission-critical compounds.

? Successfully completed due diligence meeting with Pharmaceutical companies: Novartis Pharma AG, Takeda Pharmaceuticals, and Roche resulting licensing agreements & increased portfolio value ~$500M.
? Prepared FDA’s IND enabling documents and Investigator’s brochure (IB) for new drug candidates.
? Developed topical drug development program for XEN402 licensed to Teva Pharmaceuticals (~$335M) and recently FDA granted XEN402 as Orphan Drug for the treatment of pain associated with Erythromelalgia.

Principal Research Scientist
Xenon Pharmaceuticals Inc.
2004 – 2006 (2 years)Burnaby. BC. Canada
? Provided scientific & technical leadership & managed group of scientists & technical personals.
? Managed the following drug discovery & development projects: Oral XEN402(Pain- Phase 3), Topical XEN402(Pain - Phase 2), XEN403- Oral (Pain Phase 1 Trial).
? Collaborated with medicinal chemistry group to optimize lead compounds.
? Conducted efficacy, PK/PD, non-GLP safety & toxicological studies .
? Designed & managed GLP toxicological studies conducted at CRO's
? Increased portfolio value ~$232M by managing licensing of Stearoyl-CoA Desaturase-1 (SCD1) lead compound to Novartis Pharma AG .