As more Canadians than ever suffer chronic pain, the chase is on to find novel therapeutic approaches to effectively manage their conditions. In fact, BMC Public Health estimates that 20% of adults on a global level suffer from chronic pain while 10% are newly diagnosed every year. In Canada, chronic pain affects 1.5 million people. As national and worldwide numbers in pain diagnoses continue to rise, innovators in the cannabis industry are developing promising therapies to address this growing market. InMed Pharmaceuticals, Inc. (CSE: IN) (OTC: IMLFF) (IMLFF Profile), Aurora Cannabis, Inc. (OTC: ACBFF) (TSX: ACB), Canopy Growth Corp. (OTC: TWMJF) (TSX: WEED), Aphria, Inc. (OTC: APHQF) (TSX: APH) and Isodiol International, Inc. (OTC: ISOLF) (CSE: ISOL) each play a unique role in the increased acceptance and promise of medical marijuana and its purified derivatives for pain management and other medical needs.
The medical cannabis industry in Canada alone has gained impressive traction since its legalization in 2001, and industry statistics (http://nnw.fm/uGK2H) show increases from CAD$49 million in 2015 to projections of over $1.1 billionby the year 2020. Scientists, doctors, and pharmaceutical companies alike attribute this never-before seen rise in the market to consumer confidence in the therapeutic qualities of cannabis-derived products.
As consumer acceptance continues to propel demand to unprecedented levels, companies such as InMed Pharmaceuticals (CSE: IN) (OTCQB: IMLFF) are making waves in the advancement of cannabinoid compounds as a medical solution in pain management and other indications. The biopharmaceutical company focuses its efforts in the development of novel therapies surrounding the extensive pharmacology of cannabinoids (cannabis' bioactive compounds) and innovative drug delivery systems.
Canadian marijuana companies are leading the way on a global scale by establishing high standards in the growing and cultivation of quality products. InMed is taking a very unique approach by focusing on a proprietary cannabinoid manufacturing process that sets it apart as a catalyst of improvement in the availability of pharmaceutical-grade cannabinoids.
The company's proprietary biosynthesis process has the ability to combine the intrinsic safety and efficacy of natural drug structures with the convenience, control and quality of a laboratory-based manufacturing process. Aside from significant cost savings, this process enables enhanced production, purification, and quality control compared to the typical grow-harvest-extract-purify methods employed by other companies. Notably, InMed's biosynthesis system allows the manufacturing of all of the 90+ naturally occurring cannabinoids at a relatively low cost, regardless of how rare each compound may be in nature.
Using its exclusive process in a controlled laboratory setting, InMed can manufacture cannabinoid compounds that are identical to those found in nature without the difficult, expensive and time-consuming challenges of planting, growing and harvesting cannabis then laboriously extracting the individual cannabinoids for medical use. It also completely eliminates any need for fertilizers or pesticides.
Earlier this year, InMed Pharmaceutical filed a provisional U.S. patent for its pain management program (http://nnw.fm/6GHOq). The program, which includes the INM-405 therapy, along with other similar compositions of cannabinoid-based topical therapies for the treatment of pain, is an important step to not only protecting the company's commercial and intellectual property, but also in establishing themselves as a major player in the pain management industry.
While there are numerous pharmaceutical products to treat both acute and chronic pain, the increase in the number of prescriptions for opioids has led to concerns of addiction, damaging side effects, and death. According to the U.S. Centers for Disease Control and Prevention, drug overdose deaths continue to increase in the United States, with the majority (more than 60%) involving an opioid. Since 1999, the number of overdose deaths involving opioids (including prescription opioids and heroin) quadrupled, as have the number of prescriptions for opioids, yet there has been no increase in the amount of pain reported in the general population. Thus, there is a need to find alternatives to treat chronic and severe pain that are non-addictive and have limited side effects. InMed is researching the potential of non-THC (tetrahydrocannabinol, a psychoactive ingredient in cannabis) cannabinoids to treat pain using a proprietary topical formulation.
InMed's advancements can be attributed to the company's proprietary bioinformatics assessment tool, which is able to identify which cannabinoids can potentially target individual diseases (including pain).
As Canada's medical marijuana industry continues to grow at a rapid rate, licensed producers of medical cannabis crops and pharmaceutical-grade cannabinoids are placing special emphasis on areas such as consistency and efficiency in order to keep up with market demands and provide easier product access, especially surrounding treatable conditions like pain management.
Aurora Cannabis (OTCQX: ACBFF) (TSX: ACB), award-winning contributor to Canada's legal medical cannabis industry, provides top-quality cannabis to patients through laboratory tested products, culture-minded cultivators, and a network of highly educated doctors in the cannabis industry. It is with these quality processes that they help to remove barriers of access.
Every patient's symptoms and situation is completely unique, and so should be the care they receive. Aphria (OTCQB: APHQF) (TSX: APH), a producer of high-quality, pure and safe cannabis, combines superior patient care with products that are safe and consistent, with a commitment to exceeding baseline government and regulatory body standards for medical cannabis products. When it comes to medicine, adequate is simply not good enough. Aphria's priorities lie within consistency, safety and efficacy.
Others, such as Canopy Growth (OTC: TWMJF) (TSX: WEED), is leading the world as a diversified cannabis company through its partnerships with leading names in the sector. The company's core brands - Tweed, Spectrum Cannabis and Bedrocan Canada - don't just sell quality cannabis and create meaningful customer relationships, they facilitate trusted conversations surrounding cannabis, simplify stakeholder outreaches, healthcare interactions, and patient education through color-identifying spectrum labeling, as well as a commitment to research, refinement, and licensing of medicinal cannabis products.
Companies such as Isodiol International (OTCQB: ISOLF) (CSE: ISOL) take their research and development a step further, focusing on the phytoceutical optimization of cannabinoids to maximize the bioactivity in the human body, allowing a more targeted treatment of specific health conditions. As an industry leader in the development and manufacturing of consumer products and raw ingredients derived from cannabis, Isodiol has pioneered many of the first hemp derivatives including micro-encapsulation for topical products, a 99% pure crystalline power, and nanotechnology for use in beverage and food applications.
Indeed, the overall support for medical cannabis appears to be on the rise, with an overwhelming amount of reports revealing high success in pain reduction as well as the reduction of other medication needs in the presence of medical marijuana and cannabinoid use. InMed Pharmaceuticals appears to be tackling these breakthroughs in conventional medication with its own scientifically derived advancements in the biosynthesis process. These advancements present a unique opportunity for those interested in investing in the rapid pace of the cannabinoid pharmaceutical and pain management industries.
For more information on InMed Pharmaceuticals, visit InMed Pharmaceuticals, Inc. (OTCQB: IMLFF) (CSE: IN)
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