- InMed announced a non-binding letter of intent to acquire BayMedica Inc.
- The move is designed to grow InMed’s market presence and strengthen its operations
- The two companies have had a reciprocal research collaboration that dates back to November 2020
- InMed looks to capitalize on the growing cannabinoid industry that is projected to grow at a CAGR of 21.2% from 2021 to 2028
InMed Pharmaceuticals (NASDAQ: INM) is a clinical-stage company committed to developing cannabinoid-based pharmaceutical drug candidates. It also manufactures technologies for pharmaceutical-grade rare cannabinoids. It is known for creating a pipeline of cannabinoid-based pharmaceutical drug candidates to treat various diseases with high unmet medical needs.
In a move to grow its market presence and strengthen its operations, the company announced that it had entered into a non-binding letter of intent (“LOI”) to acquire…
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