InMed Pharmaceuticals Inc. (NASDAQ: INM) and Its Quest to Build an Industry-Leading, Rare Cannabinoid Enterprise

August 9, 2021 13:55:29
  • InMed announced a non-binding letter of intent to acquire BayMedica Inc.
  • The move is designed to grow InMed’s market presence and strengthen its operations
  • The two companies have had a reciprocal research collaboration that dates back to November 2020
  • InMed looks to capitalize on the growing cannabinoid industry that is projected to grow at a CAGR of 21.2% from 2021 to 2028
InMed Pharmaceuticals (NASDAQ: INM) is a clinical-stage company committed to developing cannabinoid-based pharmaceutical drug candidates. It also manufactures technologies for pharmaceutical-grade rare cannabinoids. It is known for creating a pipeline of cannabinoid-based pharmaceutical drug candidates to treat various diseases with high unmet medical needs. In a move to grow its market presence and strengthen its operations, the company announced that it had entered into a non-binding letter of intent (“LOI”) to acquire BayMedica Inc. ( This announcement followed the two parties’ reciprocal Research Collaboration Agreement back in November 2020, which saw them collaborate on several projects since ( The agreement allowed BayMedica to assess particular elements of InMed’s proprietary IntegraSyn(TM) approach in producing cannabinoids. In addition, InMed began a preclinical investigation of different compounds selected from BayMedica’s extensive library of proprietary cannabinoid analogs, designed to be developed to treat human diseases. While making the announcement, Eric A. Adams, the president and chief executive officer (“CEO”) of InMed, noted: “We are very excited about the prospect of continuing to work with BayMedica and the potential to build a leading rare cannabinoid company together ( He further noted that: “Since commencing our collaboration in November last year, it has become apparent that our complementary business models and capabilities have the potential to provide a platform to expedite the growth of both companies and provide the flexibility of multiple processes for the manufacturing of rare cannabinoids.” The acquisition is intended to turn InMed into a powerful cannabinoid manufacturing company. With the company’s IntegraSyn(TM) pharmaceutical-grade manufacturing process, along with BayMedica’s rare cannabinoid manufacturing and ongoing revenue generation, Mr. Adams reckons that the company’s overall value proposition to customers would increase significantly, all while allowing the company to position itself at the forefront of the growing rare cannabinoid sector ( BayMedica is a biotechnology company that utilizes its expertise in synthetic biology and pharmaceutical chemistry to develop scalable, efficient and proprietary manufacturing approaches ( With this, it is known to produce regulatory-compliant, high-quality rare cannabinoids designed for the consumer market. Currently, BayMedica is commercializing the rare cannabinoid cannabichromene (“CBC”) as a business-to-business (“B2B”) supplier to distributors and manufacturers who are providing it in the health and wellness sector. The company is targeting additional rare cannabinoid launches for 2022. InMed is committed to becoming a leader in the cannabinoid sector. This move to acquire BayMedica confirms its ambition, along with the successful collaboration that the two companies have had so far. For more information, visit the company’s website at NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only) For more information please visit Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: Do you have questions or are you interested in working with CNW? Ask our Editor CannabisNewsWire (CNW) Denver, Colorado 303.498.7722 Office CannabisNewsWire is part of the InvestorBrandNetwork.