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InMed Pharmaceuticals Inc. (NASDAQ: INM) and Its Quest to Build an Industry-Leading, Rare Cannabinoid Enterprise

  • InMed announced a non-binding letter of intent to acquire BayMedica Inc.
  • The move is designed to grow InMed’s market presence and strengthen its operations
  • The two companies have had a reciprocal research collaboration that dates back to November 2020
  • InMed looks to capitalize on the growing cannabinoid industry that is projected to grow at a CAGR of 21.2% from 2021 to 2028

InMed Pharmaceuticals (NASDAQ: INM) is a clinical-stage company committed to developing cannabinoid-based pharmaceutical drug candidates. It also manufactures technologies for pharmaceutical-grade rare cannabinoids. It is known for creating a pipeline of cannabinoid-based pharmaceutical drug candidates to treat various diseases with high unmet medical needs.

In a move to grow its market presence and strengthen its operations, the company announced that it had entered into a non-binding letter of intent (“LOI”) to acquire…

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NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM

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