InMed Pharmaceuticals Inc. Common Shares - INM STOCK NEWS

InMed Pharmaceuticals (Nasdaq: INM) has announced a definitive agreement to acquire BayMedica, a US-based manufacturer of rare cannabinoids. This acquisition will establish InMed as a leader in cannabinoid manufacturing and commercialization, enabling it to tap into a growing consumer health market. The transaction is expected to close soon and positions InMed to generate revenue through BayMedica’s established products. BayMedica’s Prodiol® CBC has exceeded $2.5 million in cumulative sales since its launch in December 2019, and the combined company aims to significantly increase revenues in the near term.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced that President and CEO Eric A. Adams will present at the H.C. Wainwright 23rd Annual Global Investment Conference, scheduled for September 13-15, 2021. The presentation will be available on-demand from 1:00 PM ET on September 13 via the H.C. Wainwright events platform. An archived version will be accessible on the company's website for 90 days following the event. InMed's management is also engaging with institutional investors throughout the conference.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced that CEO Eric A. Adams will present live at VirtualInvestorConferences.com on September 8, 2021, at 1:30 PM ET. This interactive online event allows investors to engage with the company in real-time. InMed recently improved its proprietary IntegraSyn™ cannabinoid manufacturing approach, achieving a notable yield of 5 g/L, which surpasses industry standards. The company also signed a non-binding letter of intent to acquire BayMedica and is advancing clinical trials for INM-755, a cannabinoid cream for treating Epidermolysis Bullosa.

InMed Pharmaceuticals (Nasdaq: INM) has announced that its President and CEO Eric A. Adams, along with Dr. Eric Hsu, will present at the H.C. Wainwright Ophthalmology Virtual Conference on August 17, 2021. The presentation will focus on InMed’s ocular program and the development of INM-088, a topical eye drop formulation aimed at treating glaucoma. INM-088 utilizes cannabinol (CBN) as its active ingredient, which has shown potential benefits in neuroprotection and reducing intraocular pressure. The presentation will be accessible at 7:00 a.m. ET on the same day.

InMed Pharmaceuticals (Nasdaq: INM) has successfully closed a private placement, raising approximately US$11 million. The placement involved 4,036,327 common shares sold at an effective price of US$2.973 per share and accompanying warrants priced at US$2.848. Funds will support pipeline and business development. The company must file a registration statement with the SEC within ten days. These securities are unregistered and may not be resold in the U.S. without proper registration or exemption.

On June 29, 2021, InMed Pharmaceuticals (Nasdaq: INM) announced a non-binding letter of intent to acquire BayMedica, a revenue-stage biotechnology company specializing in rare cannabinoids. The transaction involves issuing 1.6 million InMed common shares to BayMedica's equity and debt holders, with certain shares held in escrow for indemnification claims. With BayMedica's expertise in synthetic biology, InMed aims to create a leading rare cannabinoid company, leveraging both companies' technologies to enhance product offerings in the health and wellness sector.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a securities purchase agreement with an institutional investor to raise approximately US$12.0 million. This will involve issuing 4,036,327 common shares at an effective purchase price of US$2.973 per share and warrants for the same amount. The private placement is set to close around July 2, 2021. The company plans to utilize the net proceeds for pipeline development, business activities, and general working capital. H.C. Wainwright & Co. is the exclusive placement agent for this offering.

InMed Pharmaceuticals Inc. (Nasdaq: INM) announced a significant milestone in cannabinoid production, achieving a yield of 5 g/L with its IntegraSyn™ manufacturing process. This yield notably surpasses previous levels of 2 g/L and the industry average, significantly reducing manufacturing costs. The company plans to advance to large-scale, GMP-ready batch production later in 2021. The achievement is a collaborative effort with Almac Sciences, enhancing InMed's prospects as a provider of pharmaceutical-grade cannabinoids.

InMed Pharmaceuticals (Nasdaq: INM) announced that President and CEO Eric A. Adams will present at the virtual 2021 BIO Digital conference from June 10-11 and June 14-18. The presentation will cover the company's latest advancements, including the IntegraSyn™ cannabinoid manufacturing system and the Phase 2 clinical development of INM-755, a cannabinol cream for epidermolysis bullosa. Attendees can access the presentation starting at 9 am ET on June 10. Additionally, Adams and CFO Bruce Colwill will hold meetings via the BIO One-on-One Partnering™ system from June 14.