InMed Pharmaceuticals (NASDAQ: INM), a leader in the manufacturing and clinical development of rare cannabinoids, has finalized the acquisition of BayMedica Inc., a private company based in the U.S. specializing in the manufacturing and commercialization of rare cannabinoids for the health and wellness sector. INM had announced the acquisition earlier. According to the announcement, the acquisition provides capabilities and resources to accelerate InMed’s commercial initiatives, including the development and unveiling of several new cannabinoids products in the consumer health and wellness sector. The combined technologies include synthetic biology, chemical synthesis and IntegraSyn(TM), a patented enzymatic biotransformation. The company noted that, with the acquisition, it will become a market leader in the manufacturing of rare cannabinoids. “We are delighted to close this acquisition and welcome everyone at BayMedica to the InMed team,” said InMed president and CEO Eric A. Adams in the press release. “In the next several weeks, we will focus on corporate integration, exploring our combined manufacturing know-how and looking to accelerate revenue growth. BayMedica brings significant expertise and will help strengthen our pharmaceutical drug development efforts as well as position the company to become a global leader in the manufacturing of rare cannabinoids.”
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About InMed Pharmaceuticals Inc.
InMed Pharmaceuticals is a global leader in the manufacturing and development of rare cannabinoids. Together with its subsidiary, BayMedica, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients that may benefit from cannabinoid-based pharmaceutical drugs. For more information, please visit www.InMedPharma.com.
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