On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

InMed Pharmaceuticals Inc. (NASDAQ: INM) Signs Definitive Agreement to Acquire 100% of BayMedica Inc., Positioning it to Stand Distinct in Rare Cannabinoids Manufacturing, Become a Revenue-Generating Company, Expand Drug Development Capabilities

  • InMed Pharmaceuticals recently announced it has entered a definitive agreement to acquire 100% of BayMedica Inc.
  • BayMedica is a private company that specializes in the manufacture and commercialization of rare cannabinoids
  • Upon closing, the transaction will make InMed a global leader in the manufacturing of rare cannabinoids in addition to transforming it into a revenue-generating company
  • Acquisition provides InMed with the complete flexibility across multiple manufacturing approaches

On September 13, InMed Pharmaceuticals (NASDAQ: INM), a company developing cannabinoid-based pharmaceutical drug candidates and manufacturing technologies for pharmaceutical-grade rare cannabinoids, announced it has signed a definitive agreement to acquire 100% of BayMedica Inc., a US-based private company that specializes in the manufacture and commercialization of rare cannabinoids, in a stock-based transaction expected to close in the coming weeks, subject to various customary closing conditions (https://ibn.fm/ckdlh).

Upon closing, the transaction will cement a relationship that began in late 2020 when InMed and BayMedica announced they had entered into a broad collaborative research agreement (https://ibn.fm/dpuuO).

Under the terms of the 2020 agreement, InMed would undertake the preclinical investigation of multiple therapeutic compounds selected from BayMedica’s extensive library of proprietary cannabinoid analogs in addition to exploring the therapeutic potential of specific analog compounds in selected disease models. On its part, BayMedica would be given access to particular elements of IntegraSyn(TM), InMed’s proprietary platform for producing cannabinoids using novel proprietary enzyme(s), in order to assess the potential of one or more of InMed’s high-efficiency enzyme sequences in BayMedica’s systems for the production of cannabinoids in BayMedica’s catalog. 

This collaboration led to an announcement, issued June 29 this year, that InMed had entered into a non-binding letter of intent (“LOI”) to acquire 100% of BayMedica (https://ibn.fm/PBV55). At the time, InMed’s President and CEO, Eric A. Adams, noted that the existing collaboration had made it apparent that the two companies’ business models and capabilities could provide a platform to expedite their growth, as well as provide flexibility of multiple processes for the manufacturing of rare cannabinoids.

“We believe that IntegraSyn, our pharmaceutical-grade manufacturing process, together with BayMedica’s revenue-generating, consumer-focused process, would create a powerful combination,” Adams added. 

Upon closing, the transaction, as detailed in the most recent announcement, will indeed create a powerful combination. It will make InMed a global leader in the manufacture of rare cannabinoids, with expertise in three distinct and complementary cannabinoid manufacturing approaches. InMed’s IntegraSyn combined with BayMedica’s synthetic biology and chemical synthesis capabilities will offer InMed the complete manufacturing flexibility to choose the most appropriate, cost-effective manufacturing method based on prevailing conditions. 

At the same time, the combined company will continue to explore the therapeutic potential of cannabinoids and novel cannabinoid analogs for pharmaceutical drug development. It will also increase commercial sales of rare cannabinoids to the consumer health and wellness sector.

“This is a transformative transaction for InMed. The acquisition gives us a breadth of synthetic cannabinoid manufacturing capabilities to deliver high quality, cost-effective rare cannabinoids for any segment of the market from consumer packaged goods (‘CPG’) to prescription pharmaceuticals,” said Adams. “BayMedica brings unparalleled cannabinoid manufacturing expertise in both chemical synthesis and biosynthesis together with industry veterans who have been pioneers in this space.”

Adams further noted that the transaction will transform InMed into a revenue-generating company, offering value to its shareholders. BayMedica commenced the sale of Prodiol(R) cannabichromene (“CBC”), its initial rare cannabinoid product, in December 2019. Since then, the sales revenues have grown steadily, with the cumulative figure currently exceeding $2.5 million. BayMedica also boasts an industry-leading batch production of CBC, the ability to expand the capacity as market demand increases, and multiple high-value non-intoxicating rare cannabinoids in various stages of commercial manufacturing scale-up.

As part of the agreement, InMed will issue 1.78 million of its common shares to BayMedica’s equity and convertible debt holders; any such issued InMed common shares will be subject to a six-month contractual hold period. Notably, however, the total number of InMed common shares issuable in the proposed transaction may be reduced depending on the findings of a financial review of BayMedica’s closing balance sheet (go through the press release for a more detailed breakdown of the terms of the transaction).

Eric Adams and BayMedica CEO Shane Johnson will offer more information about this transaction in an Edison Research-hosted webinar slated for Thursday, September 16, 2020, at 11:00 AM ET. Listeners should also expect to hear more about InMed’s future developments. To register for the webinar, please visit (https://ibn.fm/RqKhJ). 

For more information, visit the company’s website at www.InMedPharma.com.

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

About QualityStocks

QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.

QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
[email protected]

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php

Archives

Select A Month
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008
  • June 2008
  • May 2008
  • April 2008
  • March 2008
  • February 2008
  • January 2008
  • December 2007
  • November 2007
  • October 2007
  • September 2007
  • August 2007
  • July 2007
  • June 2007
  • May 2007
  • April 2007
  • March 2007
  • February 2007
  • January 2007
  • December 2006
  • November 2006
  • October 2006
  • September 2006
  • August 2006
  • July 2006
  • June 2006
  • May 2006
  • April 2006
  • March 2006
  • January 2006
  • December 2005
  • October 2005
  • September 2005
  • Market Basics

    New to the micro-cap markets?Get answers to your questions about investing in Small-Cap / Micro-Cap Stocks and learn how to protect yourself.

    The Basics

    Newsletter Publishers

    Have an up and coming newsletter and want to be included in our coverage list? Looking to get more coverage and grow subscriptions? Register for coverage.

    Register

    Public Companies

    Are you a Small-Cap / Micro-Cap company looking for coverage? We'd love to hear from you. Fill out our quick contact form or send us a text.

    Get Covered