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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 24, 2023
INMED
PHARMACEUTICALS INC.
(Exact
Name of Company as Specified in Charter)
British Columbia |
|
001-39685 |
|
98-1428279 |
(State or Other Jurisdiction
of
Incorporation) |
|
(Commission File
Number) |
|
(IRS Employer
Identification
No.) |
InMed Pharmaceuticals Inc.
Suite 310 - 815 W. Hastings Street,
Vancouver, B.C.
Canada |
|
V6C 1B4 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Company’s
telephone number, including area code: (604) 669-7207
Not
applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common
Shares, no par value |
|
INM |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
7.01 Regulation FD Disclosure.
On
October 24, 2023, the Company announced it has selected a lead Alzheimer’s disease drug candidate, named INM-901, following positive
results from several proof-of-concept studies in a validated Alzheimer’s disease treatment model. InMed will be advancing INM-901,
a cannabinoid analog, in its pharmaceutical drug development program.
The
information set forth in this Item 7.01, including Exhibits 99.1, is being furnished and shall not be deemed “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the
liabilities of that section. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by
reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d)
Exhibits:
The
following exhibits shall be deemed to be furnished, and not filed:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
INMED PHARMACEUTICALS INC. |
|
|
|
Date: October 24, 2023 |
By: |
/s/ Eric A Adams |
|
|
Eric A Adams |
|
|
President & CEO |
2
Exhibit
99.1
|
NASDAQ:
INM
Suite
310-815 W. Hastings St.
Vancouver,
BC, Canada V6C 1B4
Tel:
+1.604.669.7207
Email:
info@inmedpharma.com
www.inmedpharma.com |
InMed
Pharmaceuticals Inc.’s INM-901 Demonstrates Unique
Pharmacological Effects in Alzheimer’s Disease in Preclinical Proof-of-Concept
Studies
| ● | In
vitro Alzheimer’s disease studies show that INM-901 treated groups display neuroprotection
and extended neurite length, a potential marker for improved neuronal function |
| | |
| ● | INM-901
treated groups in an in vivo Alzheimer’s disease model demonstrate improved
behavioral, cognitive and memory outcomes in several Alzheimer’s proof-of-concept studies |
Vancouver,
BC – October 24, 2023 – InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq:
INM), a leader in the pharmaceutical research, development, manufacturing and commercialization of rare cannabinoids and cannabinoid
analogs, today announced it has selected a lead Alzheimer’s disease drug candidate, named INM-901, following positive results from
several proof-of-concept studies in a validated Alzheimer’s disease treatment model. InMed will be advancing INM-901, a cannabinoid
analog, in its pharmaceutical drug development program.
Based
on early in vitro research, INM-901 showed potential to target several biological pathways associated with Alzheimer’s,
including neuroprotection to the brain neurons from beta-amyloid peptide-induced toxicity and improving neuronal function via extension
of neurite length. In addition to these encouraging in vitro testing outcomes, INM-901 demonstrated favorable results in an in
vivo preclinical Alzheimer’s proof-of-concept model. When compared to the placebo treated Alzheimer’s disease group in
these preclinical studies, INM-901 treatment groups demonstrated a trend towards improvement in:
| ● | cognitive
function and memory |
| | |
Planning
is underway for the next stage of advanced preclinical studies and will include drug metabolism and pharmacokinetics as well as initiation
of pharmaceutical drug development activities such as manufacturing and formulation.
Dr.
Eric Hsu, InMed’s Senior Vice President of Preclinical Research and Development, stated, “The most recent studies of INM-901
demonstrate promising disease-modifying effects in an Alzheimer’s disease treatment model. We are optimistic that the next stage
of studies will continue to show how this cannabinoid analog can improve neuronal function, a potential breakthrough in Alzheimer’s
treatment.” Dr. Hsu continued, “Alzheimer’s disease patients have had limited treatment options until recently and
while there have been advancements in understanding disease pathology, there are major limitations to current therapies. There remains
a huge unmet medical need for this progressive disease that takes a major toll on patients and their families.”
Candidate
selection process
Early
research into the neuroprotective effects seen in INM’s ocular disease/glaucoma development program (INM-088) led to the screening
of multiple cannabinoids against a panel of non-ocular neuron models, including brain neurons. One cannabinoid in particular emerged
as a promising candidate for protection against neurodegenerative diseases of the brain. InMed’s team developed several analogs
of this cannabinoid in an attempt to augment the potential effects seen in these in vitro models. Further screening in several
Alzheimer’s disease assays identified two analogs that were advanced into in vivo preclinical testing involving a well-established
Alzheimer’s proof-of-concept model to measure drug impact on several disease characteristics. Based on the results from this battery
of preclinical testing, a final candidate has been selected for continued pharmaceutical R&D and now carries the nomenclature INM-901.
Challenges
with current treatments
Newly-approved
Alzheimer’s disease medications primarily address symptoms related to memory and cognitive function via the reduction of beta-amyloid
plaques. Some may slow the rate of cognitive decline, but no treatment has shown to reverse its effects. These medications are aimed
at removing amyloid plaque build-up between the neurons in the brain; however, they do not restore or rebuild deteriorating neurons and
thus do not reverse Alzheimer’s disease progression. In addition, these treatments are related to some significant side effects,
including inflammation and bleeding in the brain, some requiring brain scans once or twice a year. Several large pharmaceutical companies
such as Eli Lilly, Roche and Eisai/Biogen lead research and commercialization efforts in Alzheimer’s disease drug development.
Potential
advantages of INM-901 in treating neurological conditions
Several
in vitro and in vivo studies published by third parties support InMed’s finding of the effects
of INM-901 in neuronal disorders:
| ● | Ability
to cross the blood-brain barrier (“BBB”): The blood-brain barrier is the
specialized system of brain microvascular endothelial cells that serves to regulate
several functions: to shield the brain from toxic substances (including viruses, bacteria
and other foreign substances including many drugs); to supply brain tissues with nutrients;
and, to filter harmful compounds from the brain back into the bloodstream. Due to its chemical
structure, INM-901 is highly lipophilic (dissolves readily in fats, oils and lipids) and
can easily cross the BBB, making it a promising drug candidate for pharmaceutical use in
the treatment of neurodegenerative disease of the brain. |
| | |
| ● | Targeting
several receptor systems: In addition to the endocannabinoid system, INM-901 is capable
of targeting multiple receptor systems which may be beneficial as a multi-pronged approach
to treating complex diseases of the brain. |
Neurodegenerative
Disease Program Progress
InMed’s
latest Alzheimer’s disease study outcomes follow several developments in the program:
| ● | International
patent: InMed has filed several patents, including an international application citing
use of rare cannabinoids and analogs for the potential treatment of neurodegenerative diseases
such as Alzheimer’s disease, Parkinson’s disease, Huntington’s disease
and others. One patent specifies such compounds that may inhibit or slow the progression
of neurodegenerative diseases by providing neuroprotection in a population of affected neurons.
|
| ● | Presentation
at Canadian Neuroscience Meeting: An InMed sponsored scientific poster, entitled “Cannabinoids
modulate cytotoxicity and neuritogenesis in Amyloid-beta-treated neuronal cells,” demonstrated
the ability of a specific rare cannabinoid to reduce amyloid toxicity and tau protein expression
while enhancing neuronal cell growth and neuritogenesis markers in vitro, all considered
to be important targets in the potential treatment of neurodegenerative diseases such as
Alzheimer’s. |
About
InMed
InMed
Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids, including
clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. We also have significant know-how
in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, visit www.inmedpharma.com.
Investor
Contact:
Colin
Clancy
Vice
President, Investor Relations
and
Corporate Communications
T:
+1.604.416.0999
E:
cclancy@inmedpharma.com
Cautionary
Note Regarding Forward-Looking Information:
This
news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking
information”) within the meaning of applicable securities laws. Forward-looking information is based on management’s current expectations
and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described
in the forward-looking statements. Forward-looking information in this news release includes statements about: the next stages of advanced
preclinical studies of INM-901, including drug metabolism and pharmacokinetics as well as the initiation of pharmaceutical drug development
activities such as manufacturing and formulation; promising disease-modifying effects in an Alzheimer’s disease treatment model;
and the next stage of studies which may show how this cannabinoid analog can improve neuronal function.
Additionally,
there are known and unknown risk factors which could cause InMed’s actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete
discussion of the risks and uncertainties facing InMed’s stand-alone business is disclosed in InMed’s Annual Report on Form
10-K and other filings with the Securities and Exchange Commission on www.sec.gov.
All
forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise
or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information
contained herein to reflect future results, events or developments, except as required by law.
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