U N L O C K I N G T H E P O T E N T I A L O F C A N N A B I N O I D M E D I C I N E S Investor Presentation February 2020 :IN www.inmedpharma.com :IMLFF
Disclaimers This presentation does not constitute an offering to sell or a solicitation of an offer to buy securities and the information contained herein is subject to the information contained in the Company’s continuous disclosure documents on SEDAR at www.sedar.com. Information concerning the assets and operations of the Company included in this presentation has been prepared in accordance with Canadian standards and is not comparable in all respects to similar information for United States companies. In addition, any financial information included in this presentation has been prepared in Canadian dollars, except as otherwise indicated, and is subject to applicable Canadian generally accepted accounting principles and Canadian auditing and auditor independence standards, which differ from United States generally accepted accounting principles and United States auditing and auditor independence standards in certain material respects. The information provided in this presentation is not intended to provide financial, tax, legal or accounting advice. The Company exists under the laws of the Province of British Columbia, Canada. A substantial portion of the Company’s assets are located outside the United States. As well, some of the Company’s officers and directors are residents of Canada. As a result, it may be difficult for investors to enforce civil liabilities under United States federal or state securities laws. Investor Presentation Feb 2020 2
Forward Looking Statements This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “forward - looking statements”) including, among others, statements concerning: unlocking the full potential o f cannabinoid pharmaceuticals; anticipated clinical development activities, timelines, catalysts, and milestones; the potential benefits of product candidates; anticipated revenue and market opportunities; and the continued availability of key personnel. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. With respect to the forward-looking information contained in this presentation, the Company has made numerous assumptions regarding, among other things: continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; demand for the Company’s products; continued availability of key personnel; continued access to sufficient capital to fund op erations; and continued economic and market stability. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among others: the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results; risks associated with obtaining funding from third parties; risks related to the timing and costs of clinical trials; key personnel may become unable to serve the Company; the need for receipt of regulatory approvals; and economic and market conditions may worsen. Readers are cautioned that the foregoing list is not exhaustive. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s annual information form dated September 26, 2019, a copy of which i s available on SEDAR at www.sedar.com. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, except as required by law. Investor Presentation Feb 2020 3
A Differentiated Cannabinoid Pharmaceutical Company Focused on the Therapeutic Application of Cannabinoids for the Treatment of Diseases with High Unmet Medical Needs Researching the therapeutic potential of rare cannabinoids, beyond THC & CBD, beginning with cannabinol ( CBN ) Selecting innovative, topically applied cannabinoid therapies where we can establish a proprietary foothold in treating diseases with high unmet medical needs Developing a biosynthetic manufacturing approach that targets low cost production of bio-identical cannabinoids for internal and external commercial needs Investor Presentation Feb 2020 4
The Opportunity & Challenge of Rare Cannabinoids <1% 2 – 20% Major Cannabinoids 100+ Rare Cannabinoids CBD CBN, CBG, CBGA, CBGV, CBGVA, THCV, THCVA, THC CBC, CBCV, CBCVA, CBDV, CBC, CBCA, CBNA… • Epilepsy • Inflammation • The 100+ rare cannabinoids occur in • Anxiety • Nausea extremely low amounts in the cannabis plant • Stress • Stress Disorder Disorder • The cost of extracting sufficient quantities • Pain • Sleep Apnea of these cannabinoids can be prohibitive • The challenge is how to manufacture sufficient quantity & purity to investigate, and potentially commercialize, rare cannabinoid-based therapies Investor Presentation Feb 2020 Note: lists are not exhaustive 5
Proprietary Biosynthesis Process Investor Presentation Feb 2020
The Opportunity for Biosynthesis Enabling internal access to rare cannabinoids… … and expanding the commercial opportunities for the others • InMed initiated the biosynthesis program over five years ago to ensure access to a supply of rare cannabinoids that is reasonably priced and ultra-high quality (pharmaceutical-grade). • Valuable technology, not only to our own therapeutic development programs, but possibly as a licensor and supplier of rare and/or major cannabinoids for other pharmaceutical development programs and retail commercial opportunities. Investor Presentation Feb 2020 7
Cannabinoid Manufacturing Alternatives Extraction from Plants Chemical Synthesis Biosynthesis • Plant – Grow – Harvest – Extract • Expensive for some, time – Purify process is resource consuming (weeks) for all intensive, large carbon Bio-identical to Extracts • Excessive chemical waste footprint, QA/QC issues • Problem of isomers (structural Cost Savings for Rare CBs • Expensive, takes months for a integrity) for some CBs that may single production batch Enhanced Purity and QC affect efficacy/safety; risk that • Pesticide removal is challenging, synthesized product may not be Pharma-grade CMC may result in import/export identical to the natural restrictions compounds Structural Integrity • Access to rare cannabinoids Advantage for some CBs prohibitively expensive Investor Presentation Feb 2020 8
Biosynthesis: Completed R&D 2015 – 2017 2018 2019 Determined host Finalized plasmid design for Upstream Tech Downstream Process system bacteria vs yeast cannabinoid production in E. coli Transfer Development Identified genetic elements Demonstrated target needed to upregulate substrate cannabinoid(s) production at Alternative Process concentration for cannabinoid laboratory scale Development production in E. coli FILING OF KEY PATENTS Investor Presentation Feb 2020 9
Biosynthesis: High-level Time & Event Schedule 1H 2019 2H 2019 1H 2020 2H 2020 HPLC assay tech Finalize USP Scale-up of alternative Conduct GMP analytical transfer to NRC development at NRC process CDMO #2 assays development and process Up-stream DSP development at PCT application filing development to fermentation tech CDMO #1/CDMO #2 support batch transfer to NRC production Conduct alternative Small scale bioreactor process studies Initiate GMP batch fermentation CDMO #2 production at CDMO condition optimization (if needed) Decision on future (on-going) manufacturing Filing of additional pathway patent applications USP – Up-stream Process (Fermentation); DSP – Down-stream Process (Purification); GMP – Good Manufacturing Practices; Completed In Progress NRC – National Research Council of Canada; CDMO – Contract Development and Manufacturing Organization Investor Presentation Feb 2020 10
Biosynthesis: Competitive Landscape Bacteria Yeast Algae/Other • InMed proprietary, flexible • Complicated IP landscape • Unproven scale-up process for manufacturing pathways pharma-grade API • Technically easier but less cost • Technically challenging but effective for pharma-grade API more cost effective for pharma- KEY PARTNERSHIPS grade active pharmaceutical ingredient (API) R&D Commercial Investor Presentation Feb 2020 Note: lists are not exhaustive 11
InMed’s Therapeutic Pipeline Investor Presentation Feb 2020
Cannabinol (CBN) – InMed’s First Rare Cannabinoid API API in Lead Product Candidates: INM-755 (dermatology) & INM-088 (ocular) • A rare cannabinoid with unique physiological and safety properties • A natural compound, but qualifies as a new chemical entity (NCE) for pharmaceutical development • Considered non-psychoactive • Found in trace amounts in the plant; impractical to extract Cannabinol (CBN) • InMed preclinical studies show therapeutic potential for dermatology and ocular diseases Investor Presentation Feb 2020 13
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