InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) and the National Research Council of Canada (NRC) in Montreal, Canada have agreed to work together. The duo signed research agreement inclining that they will utilize each other’s strengths and capabilities. The arrangement will give a natural progression to the goals each of them has in establishing their positions in the market.
There is a significant need for a natural product, which can treat several conditions but with minimal side effects. It is also important to have substitute non-addictive treatments for chronic and severe pain. This is the main purpose that the duo’s agreement is seeking to achieve.
Drug development pipeline is the fundamental value and drive for any market
InMed’s primary focus is on pain management. Thus, its interest in non-THC cannabinoids, which if approved is eligible for the market. On the other hand, development of a drug pipeline is one of the key indicators that there is value in the market. However, there is must be a push here and a pull there, whereby company partnerships come in handy. They tap into each other’s expertise as Eric Hsu explains.
The Vice President, Pre-Clinical Research & Development for InMed says, “The NRC has significant biofermentation expertise and extensive facilities to support InMed’s scale-up activities.”
It is worth noting that InMed specializes in the development of novel therapies. However, it has to undertake an in-depth research and development of cannabinoids alongside the use of innovative drug delivery systems.
InMed has filed a new Patent Cooperation Treaty
Despite all these milestones, the pre-clinical stage biopharmaceutical company is not done yet. News has it that it has a Patent Cooperation Treaty (PCT) related to its INM-405 program. The PCT aimed at giving protection to the company’s INM-405 program spread across 150 different countries.
The patent outlines an array of cannabinoids, which are either single or are in combination. In addition, the PCT enjoys a successful near-global coverage given that it covers the likes of Europe, Australia, and Japan. Other regions include China, the U.S, India, Brazil, and New Zealand.
The company’s view regarding the PCT is that it will help in protecting its intellectual and commercial property.