InMed Pharmaceuticals (INM) intends to raise $10 million from the sale of common stock and warrants in an uplisting / Nasdaq IPO, according to an amended registration statement.
The company is developing cannabis-derived treatments for skin and eye conditions.
INM is still at a preclinical stage of development and is thinly capitalized; the IPO may be more suited to long-term hold institutional investors, so I’ll watch the IPO from the sidelines.
Company & Technology
Vancouver, Canada-based InMed was founded to advance drug programs for epidermolysis bullosa [EB], a skin condition that results in layers of skin not sticking to each other and for glaucoma, an eye condition that damages the optic nerve.
Management is headed by president and Chief Executive Officer Eric Adams, who has been with the firm since 2016 and was previously CEO at EnGene and held senior roles at QLT.
Below is a brief overview