Innovative Biotechnology Companies are Transforming Cannabis-based Medical Products

NEW YORK, October 26, 2017 /PRNewswire/ --

Many biotech companies are taking advantage of widespread interest and acceptance of the potential for cannabis-based products to treat a range of medical disorders. These forward-thinking companies are developing proprietary systems and delivery methods to drive their research and development programs for a leading position in industry breakthroughs. Chief among them is InMed Pharmaceuticals, Inc. (CSE: IN) (OTC: IMLFF) (IMLFF Profile), which has made groundbreaking progress in the pre-clinical research and development of cannabinoids with its innovative proprietary biosynthesis process. One of the most established companies in this field, GW Pharmaceuticals plc (NASDAQ: GWPH), is a world leader in the development of orphan and non-orphan cannabinoid products to treat neurological conditions, while Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) is developing innovative cannabinoid therapeutics based on transdermal delivery mechanisms. While many biotechs rely on companies like Canopy Growth Corp. (OTC: TWMJF) (TSX: WEED) and Aurora Cannabis, Inc. (OTC: ACBFF) (TSX: ACB) as critical sources of the medical-grade cannabis needed to conduct their clinical research, InMed holds a unique position with its in-house capabilities.

Biotechs involved in the research, formulation, and testing of cannabis-based medical products from plant-based processes face the onerous regulatory processes imposed by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). The FDA's scrutiny against such products stems from inconsistencies in active ingredient strength and quality, both of which may vary from one crop to the next. In addition, pesticides can be hard to remove, and crop fluctuations can affect yield. Producers are also often strained by the time, effort, and expense, not to mention chemical waste, required to manage high-yield cannabis crops.

Several biotechs have turned to chemical processes to produce synthetic cannabinoids which can deliver consistent outcomes every time, thereby overcoming some of these concerns and greatly increasing their prospects of gaining FDA approval. However, synthetic production can be expensive and can present potential safety issues. It is difficult to synthesize compounds that are identical to their natural counterparts, as the slightest structural variations can affect the quality and safety of the finished product.