InMed Pharmaceuticals Evaluates Options for Promising INM-755 Compound After Successful Clinical Trial

LOS ANGELES– Following the encouraging results of its Phase II clinical trial for INM-755, an anti-itch cannabinoid-based cream for skin disorders, InMed Pharmaceuticals (NASDAQ: INM) is now weighing its next steps to maximize value for shareholders. The trial showcased significant anti-itch activity, fueling the company’s interest in exploring potential partnerships and developmental avenues for this promising asset.

In June, InMed Pharmaceuticals revealed the outcomes of its Phase II study (755-201-EB) evaluating the safety and efficacy of INM-755 in treating epidermolysis bullosa (EB), a severe skin disorder characterized by fragile, blistering skin. The trial ran for 28 days and encompassed all four subtypes of inherited EB, namely EB Simplex, Dystrophic EB, Junctional EB, and Kindler Syndrome, enrolling a total of 19 patients, with one patient excluded due to a protocol deviation.

Of the 18 evaluated participants, 12 patients (66.7%) experienced significant improvement in chronic itch. Moreover, 5 patients (27.8%) treated with INM-755 demonstrated notable anti-itch effects surpassing those observed with the control cream, whereas only 1 patient (5.6%) reported better itch reduction with the control cream.

Although the trial results for non-wound itch were not statistically significant in favor of INM-755, given the small sample size, the overall findings provided an encouraging basis to proceed with further development.

Considering the promising safety and efficacy data for treating non-wound itch, along with the positive safety data from Phase I trials, CEO Eric Adams confirmed that InMed Pharmaceuticals is now actively seeking research and commercial partnership opportunities for the continued advancement of INM-755 CBN cream.

The potential pool of partners is vast, as the global market for anti-itch ointments is projected to grow from US$3.297 billion in 2022 to US$4.57 billion in 2029, with a compound annual growth rate (CAGR) of 4.8% from 2023 to 2029, according to Market Research Reports. Among the key players in this market are prominent multi-national conglomerates such as Johnson & Johnson, CR SANJIU, Sanofi, and Bayer.

Collaborating with a partner for late-stage Phase III trials can offer several advantages for smaller biopharma companies, including reduced financial risks, access to specialized expertise, accelerated development timelines, and a sharper focus on core competencies. A strategic partnership could enhance the likelihood of a successful outcome, particularly if the partnering company has a positive track record in conducting late-stage trials.

The potential approach for InMed could involve a licensing agreement that provides ample funding for further development. Such an agreement would grant the partner access to InMed’s proprietary drug candidate(s) in exchange for financial support, clinical development expertise, regulatory affairs management, and/or access to marketing and distribution networks.

In return, InMed would likely secure a royalty or profit-share from future product sales if INM-755 receives regulatory approval and is subsequently commercialized.

In the meantime, InMed Pharmaceuticals’ subsidiary, BayMedica LLC, is experiencing significant growth in the non-pharmaceutical sector as a leading supplier of bioidentical rare cannabinoids to the Health and Wellness market. BayMedica has witnessed impressive sequential revenue growth exceeding 100% for two consecutive quarters, with total revenues for fiscal year 2023 reaching $4.1 million, a remarkable 276% increase compared to the previous fiscal year.

The demand for rare cannabinoids in end product applications is driving BayMedica’s success, particularly for cannabichromine (CBC), known for its effectiveness in relieving pain, anxiety, and inflammation. The infusion of rare cannabinoids into edible products is expected to drive growth in the U.S. minor cannabinoids market, with a projected CAGR of 23.4% between 2022 and 2030, according to a 2022 research study.

With such promising developments in both the pharmaceutical and non-pharmaceutical segments, InMed Pharmaceuticals has positioned itself for potential growth opportunities. As INM-755 inches closer to its next phase, and BayMedica capitalizes on the growing demand for rare cannabinoids, investors are keeping a close eye on the company’s future moves.