NetworkNewsWire Editorial Coverage: The medicinal cannabis market is expected to reach almost US$56 billion by 2025, according to a report by Grand View Research (http://nnw.fm/rXx0Z), driven in part by demand for therapeutic applications of cannabinoid-based drugs for pain relief, suppression of nausea and appetite stimulation, as well as for symptomatic treatment of diseases such as glaucoma, cancer and multiple sclerosis. As an increasing volume of scientific research leans toward the efficacy of cannabis-based drugs, innovative biotech companies are advancing their R&D to develop therapeutic candidates that envelop the potential health benefits of the marijuana plant. One such company is InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) (IMLFF Profile), which has several cannabinoid-based drug candidates in its pipeline. The company has also developed a proprietary and groundbreaking technology for the biosynthesis of all 90+ cannabinoids via an innovative process that enables a wide spectrum of drug development activities in-house, from drug manufacture to novel, tissue-specific formulation and all clinical and regulatory work. Though currently valued at only US$81 million, InMed’s capabilities position it among the ranks of larger biotechs with important innovations in this industry, including GW Pharmaceuticals plc (NASDAQ: GWPH), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE),Cara Therapeutics, Inc. (NASDAQ: CARA) and INSYS Therapeutics, Inc. (NASDAQ: INSY).
Extracting cannabinoids for medicinal applications using an agriculture-based model involves a lengthy, expensive and labor-intensive process of planting, growing, harvesting, extracting and purifying. To avoid the shortcomings of an agricultural approach, several biotechs have turned to chemical processes to produce synthetic cannabinoids that can deliver consistent quality, thereby overcoming some of these concerns and increasing their prospects of gaining FDA approval. However, synthetic production can be expensive and can present potential safety issues. It is difficult to synthesize compounds that are identical to their natural counterparts, and the slightest structural variations can affect the quality and safety of the finished product.
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Innovation Drives Value for Leading Cannabis Biotechs
