Hi Everyone. It's a new Era!
A couple of hours ago, Japan entered into a new era. The first day of the Reiwa Era is May 1st and there are lots of things to look forward to.
For us, it is a good time to reflect on where we've come and where we are going.
May 21, 2014 InMed commences trading on the CSE as Cannabis Technologies. They rebrand to become InMed technologies in March 2015 and focus on a potential unicorn application in EB. In August 2015, they have a positive test result for their invitro preclinical experiment in EB. Also in 2015, they initiate experimentation on Oral Facial Pain and file provisional patents for treating eye diseases using cannabinoids.
2016 was the return from the edge of the abyss with the decision to press forward with their biosynthesis technology and the appointment of Eric Adams as the CEO. This is when things got interesting. The ecoli biosynthesis platform was thought to be impossible but the research group working with InMed and the University of British Columbia had a break through. Eric rolled up his sleeves and filled the company with enough cash to get the programs to survive another day. He built the team through 2016 with the addition of the CFO and VP Regulatory affairs. He continued to find money for the company and put InMed on solid ground.
2017 was the first transformational year with the appointment of Eli Lilly's Martin Bott to the Board of Directors. This, in my opinion was the validation that ecoli biosynthesis was real and real important. Also, InMed files the PTC for EB and the company is well on the way. For much of the year, the CEO is on the road promoting the company and gaining momentum. He presented at several conferences and raised significant capital enabling the development of a clinical pathway for EB and progress on the preclinical pipeline. Also in 2017, InMed files the Biosythesis patent, hires Ben Patterson formerly of Eli Lilly to take the manufacturing technology to commercialization.
But InMed wasn't finished. They appointed the world famous cannabis researcher Dr. Mauro Maccarrone to the Scientific Advisory Board, filed the provisional patent for Oral Facial Pain and announces positive preclinical data on "... an Ocular Hydrolgel Formulation using a Biosynthesized Cannabinoid" on October 24, 2017.
Boy did 2018 ever start with a bang! Riding the cannabis wave, InMed skyrocketed prematurely to over C$2 and set somewhat unrealistic expectations that extend to this day. Also exciting was the filing of the biosynthesis patent, partnering with the National Research Council of Canada to help scale up of biosynthesis, the contract with an undisclosed Contract Research and Development Organzation to help with purification and subsequent manufacturing once scale-up is complete. Inmed closed the year with $20+ million in the bank and 2 years on runway to get to biosynthesis commercialization and phase II clinical trials for EB.
The foundation has been build and now the next Era is at our doorstep. This year, InMed Pharmaceuticals will enter into a new era of becoming a Clinical Stage Biopharma Company and a commercial plan for revenues in earl 2020.
Life is good. Cash in bank. Patents filed. Partners lined up. InMed is in execution mode and that is an exciting place to be. There is good news to come for those with patience.
#STMF
