Edison issues update on InMed Pharmaceuticals (IN) LONDON,

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Edison issues update on InMed Pharmaceuticals (IN)

LONDON, Feb. 14, 2019 (GLOBE NEWSWIRE) -- InMed (IN) recently reported results for the second quarter of FY19 and is on track to bring INM-750 for epidermolysis bullosa (EB) into the clinic by the end of the year. The company recently completed two topical seven-day dose-ranging studies in pigs; the trials evaluated skin irritation, pharmacokinetics, histology and skin/drug concentrations and InMed is on the verge of selecting the contract manufacturing organization that will produce the topical cream necessary for the Phase I trial. Progress on biosynthesis continues as the company has initiated technology transfer activities to the National Research Council Canada (NRC), which will support fermentation scale-up.

We have adjusted our valuation from C$232m or C$1.36 per basic share (C$1.05 per diluted share) to C$257m or C$1.51 per basic share (C$1.16 per diluted share) mainly due to rolling forward our estimates, although this was mitigated by lower net cash. InMed had C$23.0m in cash at 31 December and we believe this provides a runway through to FY20.  Click here to view the full report.

All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority .

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Maxim Jacobs, +1 646 653 7027 Briana Warschun, +1 646 653 7031 healthcare@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn          https://www.linkedin.com/company/edison-investment-research Twitter             www.twitter.com/Edison_Inv_Res YouTube         www.youtube.com/edisonitv

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