- There is an urgent need for large-scale biosynthetic processing that preserves the purity and consistency of cannabinoids
- Acquired by InMed in October 2021, Bay Medica is a private U.S. firm specializing in the manufacturing and commercialization of rare cannabinoids for the health and wellness sector
- InMed has two cannabinol formulations currently in development for ocular and dermatological diseases – INM-088 (ocular for glaucoma) and INM-755 (dermatological cream for epidermolysis bullosa)
The global cannabis market increased exponentially after the pandemic hit, and is anticipated to continue its upward trend over the next few years. The market was valued at $20.47 billion in 2020, reporting a growth rate of 50.92% that year. The sector reached $28.66 billion in 2021 and is anticipated to hit $197.74 billion in 2028, expanding at a CAGR of 32.04% (https://cnw.fm/YYtTc). The market growth is paired with an increased demand for rare cannabinoids, with research showing that the biosynthesis of rare cannabinoids is projected to reach $25 billion in 2025 and up to $40 billion by 2040 (https://cnw.fm/B7SRh).
The problem faced by companies looking to work with rare cannabinoids on an industrial scale is the lack of efficient biosynthetic production methods that can ensure purity and consistency at high levels of production. Many companies find small-scale processing efficient for maintaining purity and…
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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