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InMed Pharma Appoints Eli Lilly Finance Executive to Board of Directors

Ryan Allway

January 18th, 2017

News, Top News

InMed Pharmaceuticals Inc. (OTCQB: IMLFF) (CSE: IN), a cannabis biopharmaceutical company specializing in the development of novel cannabinoid therapies and delivery mechanisms, recently announced that Martin Bott, VP of Corporate Finance and Investment Banking at Eli Lilly & Company joined its Board of Directors.

“Martin Bott has established a significant leadership position in financial and business expertise with one of the world’s leading pharmaceuticals companies,” said Eric A. Adams, President and CEO of InMed Pharmaceuticals. “His depth of knowledge in navigating the complexities in healthcare finance and operations on a global level will be invaluable to InMed. We look forward to his strategic counsel as we work towards achieving our many corporate objectives.”

The pedigree of InMed’s Board of Directors and executive team is impressive, given the company’s small $35 million market cap, and sets it apart from other development stage biotech firms. The extensive experience level of the Company’s Directors further validates to the investment community both the potential of the company’s assets and the integrity of its management team. These individuals, through their independent due diligence, clearly recognize the company’s tremendous potential within one of the hottest sectors in the pharmaceutical industry.

In this article, we will take a closer look at Mr. Bott’s appointment along with the company’s existing team, and what it means as InMed progresses towards its first clinical trial in INM-750 for the treatment of Epidermolysis Bullosa as well as the rest of its clinical pipeline.

Reaching a Tipping Point

InMed Pharmaceuticals has made important progress in advancing its pipeline drug candidates in 2016 and is well positioned moving into the new year.

In an interview with BNN, President & CEO Eric A. Adams discussed the company’s progress in developing therapies with certain cannabinoids of the 90+ found in the cannabis plant – not just THC and CBD – and its low-cost process for biosynthesizing these cannabinoids using a method that is similar to the manufacturing process for insulin. This unique approach has drawn the attention of investors, media, and high-profile industry experts.

After making significant progress in 2016, the company is finalizing the transdermal formulation for its Epidermolysis Bullosa (EB) therapy and plans to complete toxicology testing in 2017. The team plans to begin clinical trials in 2018 and will seek an expedited review process with regulatory authorities, including the U.S. FDA, to minimize this product’s time-to-market and maximize shareholder value.

The relatively near-term start to clinical trials could prove to be a key turning point for the company. Early positive clinical trial results could provide important validation and ignite industry-wide interest in its innovative platform. Additionally, the company will actively seek partners to help develop new disease targets for its cannabinoid-based drug therapies, including its important use in glaucoma. Investors may want to take note given InMed’s potential to out-license new uses for cannabinoids in non-core areas as well as expanding into other indications.

Strong Team

The appointment of Martin Bott to InMed’s Board of Directors represents a strong vote of confidence for its future. Mr. Bott has worked at Eli Lilly & Company since 1988 and held a variety of roles in the U.S., Switzerland, Germany, and the UK. Prior to his current assignment at Lilly, Mr. Bott was the CFO for both the Diabetes Business and the Global Manufacturing and Quality organizations and has been a member of the CFO staff since December 2002.

“I am delighted to be joining InMed as a Board Member,” said Mr. Bott. “InMed is at a pivotal point in its evolution. Its broad base of assets, from the drug development pipeline to the cannabinoid biosynthesis and other enabling technologies, will require careful planning and execution. I look forward to working with other Directors and executive team to contributing to the achievement of InMed’s strategic initiatives and future growth.”

Mr. Bott joins an already-exceptional Board of Directors including Andrew Hull, another 30+ year Big Pharma executive who is currently the VP of Global Alliances for Takeda Pharmaceuticals; Dr. Bill Garner, a serial biotech entrepreneur who has founded, funded, publicly-listed and divested several companies around the world; Andrew Cutler, a former buy-side Wall Street biotech analyst; and, CEO Eric A. Adams, whose 30+ years in the pharma and biotech industry has seen him serving patients in areas as diverse as HIV/AIDS, organ transplantation, severe burns and oncology.

Looking Ahead

InMed Pharmaceuticals Inc. (OTCQB: IMLFF) (CSE: IN) has made tremendous progress throughout 2016 and stands at a key tipping point in its corporate history. With the appointment of Eli Lilly’s Martin Bott to its Board of Directors, the company is well positioned to execute on its goals and unlocking long-term shareholder value. Investors may want to take a closer look at the stock as it continues to advance its EB and glaucoma programs.

For more information, visit the company’s website at www.inmedpharma.com or visit CannabisFN’s Company Profile.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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