InMed Pharmaceuticals (NASDAQ:INM) Applies To Conduct Phase 2 Clinical Studies Of INM -755 Cream To Treat EB In Israel, Australia, And Serbia

InMed Pharmaceuticals (NASDAQ:INM) seeks the permission of local authorities in Israel, Australia, and Serbia to conduct phase 2 clinical studies of INM-755 cream to cure EB (Epidermolysis Bullosa). 

The company also applies with Ethics Committees (ECs) and National Competent Authorities (NCAs) in Italy, Germany, France, and Greece to conduct a clinical trial of cannabinol cream soon to treat EB.

InMed expects to receive responses of ECs and NCAs in August and July 2021, and the timing to conduct phase 2 clinical trials may vary in those nations.

Preclinical studies prove the efficacy of INM-755 

SVP (Clinical and Regulatory Affairs) at InMed, Alexandra Mancini, said the company is thrilled to initiate a phase 2 clinical trial to test the safety and efficacy of INM-755 cream in patients with EB. According to the data collected from the preclinical trials, cannabinol cream offers much relief from EB. 

The company will commence enrollment of patients into the clinical trial on receipt of approval from the respective health authorities and expects to publish results in H2 2022.

Multi-center clinical study to test INM-755 in treating EB

InMed designed the phase 2 clinical studies to enroll up to 20 patients in 12 months period. The company will carry out the trial at ten pre-qualified sites in Israel, Australia, and Serbia initially and later in Greece, Italy, Germany, and France.

InMed will evaluate the effectiveness of the INM-755 cream in curing all forms of EB including, Dystrophic EB, inherited EB, Kindler Syndrome, and Junctional EB, over 28 days.

InMed will report its Q3 2021 revenues on May 13, 2021. It will also conduct a conference call on the same day at 8:00 AM. 

Delists from TSX

InMed served a notice on April 27, 2021, to delist its shares from TSX (Toronto Stock Exchange). The company will save administrative efforts and expenses related to the listing on TSX. 

It will use substantial savings from delisting its shares on TSX to scientific programs. 

However, its shares will continue to trade on NASDAQ. After listing its shares on November 12, 2020, the company reports a trading volume of 86% on NASDAQ. 

InMed develops pharmaceutical drugs using CBD and focuses initially on CBN therapeutic benefits.