InMed’s Bioinformatics Platform Powers Cannabinoid Drug Development
Ryan Allway
February 28th, 2017
News, Top News
The cost of developing a new pharmaceutical drug exceeds $2.5 billion, according to Tufts University, including $1.4 billion in out-of-pocket expenses and $1.2 billion in opportunity costs for investors. Cannabinoid-based drug development is no exception to these high costs with companies like GW Pharmaceuticals plc (NASDAQ: GWPH) spending nearly $130 million on research and development last year alone.
InMed Pharmaceuticals Inc.’s (CSE: IN) (OTC: IMLFF) bioinformatics platform helps reduce these costs by rapidly identifying cannabinoid compounds to treat specific medical conditions using statistical models. In addition to leveraging the platform for its own drug pipeline, the company signed a term sheet for its first potential licensing deal with Revive Therapeutics Ltd. (TSX-V: RVV), which is developing cannabinoid-based therapeutics for kidney diseases.
In this article, we will take a closer look at the company’s innovative bioinformatics platform, its recent licensing deal, and why investors should take note of these developments.
Innovative Approach
InMed Pharmaceuticals’ proprietary in-silico Bioinformatics Database Assessment Tool leverages extensive databases and proprietary algorithms to rapidly identify cannabinoid combinations that are likely to have an effect on specific diseases. By doing so, the platform helps drug development companies shorten the drug discovery period and increases the likelihood of success from the onset of drug development.
The platform has three core components:
- Comprehensive algorithms to integrate data from numerous bioinformatic databases.
- A database on the structure of currently-approved pharmaceutical products.
- An extensive database of over 90 individual cannabinoid drugs found in cannabis.
InMed’s data included in its bioinformatics assessment tool are derived from both public and proprietary sources and include protein-protein interactions, gene regulation, epigenetic modification, cell signal networks, and metabolomics. Using processes proprietary algorithms the platform establishes gene and protein-protein interaction networks to identify multi-target based approaches for specific diseases.
Licensing the Technology
Revive Therapeutics recently announced that it entered into a term sheet agreement with InMed Pharmaceuticals to license its bioinformatics platform for the development of cannabinoid-based treatments for kidney diseases. Under the terms of the deal, InMed will grant Revive exclusive worldwide rights to develop and commercialize target cannabinoids from its platform in exchange for an upfront payment, milestone payments, and royalties.
“I am very excited to be partnering with InMed and utilizing their proprietary Bioinformatics Database Assessment Tool, an in-silico technology which will be deployed under this agreement to target cannabinoid compounds for specific kidney diseases”, said Craig Leon, Chief Executive Officer of Revive. “We are focused on expanding our product pipeline in disease areas where we have commitment in and we aim to leverage our world-class advisors and our strengths in product development, human clinical studies, regulatory management, and business development of novel therapies for unmet medical needs.”
The licensing deal both validates InMed’s innovative platform and represents a potential high-margin revenue stream over time. By licensing the platform, the partnering companies avoids many of the large upfront costs and significant timelines associated with drug development. InMed expands its business platform to include revenue generated from upfront payments but more importantly potential of recurring royalties. These revenues could become significant if the company signs more of these deals and its partners commercialize approved drugs.
Looking Ahead
When put into the context of the overall corporate structure, investors can see a diverse pharmaceutical company emerging in the burgeoning cannabis space. The bioinformatics platform helps InMed quickly and accurately identify potential cannabinoid drug candidates, both within the company and for paying customers. The company’s groundbreaking cannabinoid biosynthesis process allows for scalable production of the active drug ingredients, and the potential for another revenue stream should InMed shop the biosynthesized cannabinoids. InMed is using these tools to develop its own pipeline, focused initially on treating glaucoma and epidermolysis bullosa (a debilitating genetic skin disease that may lend itself to a fast track development plan).
For more information, visit the company’s website or 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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