Vancouver, BC – September 19, 2017 - InMed Pharmaceuticals, Inc. (“InMed” or the "Company") (CSE: IN; OTCQB: IMLFF), a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based drug therapies, announced today that it has retained the consulting services of Ben Paterson, P.E., to assist in defining the pathway for the scale-up, purification, and manufacturing strategies for InMed’s cannabinoid biosynthesis program. Ben Paterson is Principal Consultant at PatersonChemE Consulting, LLC.
Mr. Paterson has nearly four decades of experience in developing pharmaceutical manufacturing and purification processes. He was previously a Senior Engineering Advisor with Eli Lilly and Company, where he spent 37 years, including 24 years in their biosynthesis division. His expertise includes first defining processes in the lab, then scaling up to pilot and commercial scale. Mr. Paterson has conducted design, construction, operation, optimization, and troubleshooting of both large and small molecule drug facilities including the E. coli biosynthesis of numerous products. He brings experience in the seamless integration of biochemistry, equipment, and process control to successfully define a “process” at scale.
"Mr. Paterson brings significant experience in all facets of biosynthesis manufacturing and facility design," said Eric A. Adams, President & CEO, "His expertise directing complex capital projects, overseeing facilities and equipment, and interfacing with various stakeholders will be a significant asset to InMed.”
Mr. Paterson earned his BSc. in Chemical Engineering from Northwestern University.
About PatersonChemE Consulting, LLC
PatersonChemE® provides process engineering consulting across the lifecycle of diverse manufacturing processes. PatersonChemE® offers process engineering consulting services for biotech, pharmaceutical, and chemical processing, from lab to commercial, from design to troubleshooting. Learn more at: http://www.patersoncheme.com.
InMed is a preclinical stage biopharmaceutical company specializing in the research and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. InMed conducts research, discovery, preclinical, clinical, regulatory, manufacturing and commercial development activities for its product candidates. InMed’s proprietary bioinformatics database assessment tool, the biosynthesis manufacturing process and its drug development programs are the fundamental value drivers of the Company.
For more information, visit www.inmedpharma.com.
Contact: InMed Pharmaceuticals Inc.
Corporate Development and Investor Relations
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 services to be provided by Mr. Paterson to InMed and the expected fundamental value drivers of the Company.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: that InMed’s business relationship with Mr. Paterson will be successful; the continued successful development of InMed’s biosynthesis assets; the expected fundamental value drivers of the Company; and others. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
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. Known risk factors include, among others: the services provided by Mr. Paterson may be successful in advancing InMed’s Biosynthesis assets; InMed’s biosynthesis assets may never be suitable for commercial production of cannabinoids; and InMed's proprietary platform technology, product pipeline and drug development programs may not return their expected level of value.
A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed’s Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com. 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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.