Upon its acquisition of BayMedica LLC last year, InMed Pharmaceuticals Inc. (NASDAQ:INM) made the executive decision to forge a new path alongside its traditional domain in pharmaceutical drug development. With the acquisition long since closed, the end results are starting to bear fruit. The company has already launched B2B sales of the rare cannabinoid cannabidivarin (CBDV) in the U.S. health and wellness sector. This is but a preview of additional product launches that will be introduced to market in the coming quarters.
High up on the priority list is tetrahydrocannabivarin (THCV), a cannabinoid chemical found in cannabis that shares broad similarities in molecular structure to tetrahydrocannabinol THC. Incredibly, the reduction of one sidechain, thereby reducing the molecule by two carbons, producing enough of a differentiated effect that preliminary research suggests that THCV could provide distinctive benefits to consumers—particularly at titrated doses.
According to Jay Denniston, chief scientist at BellRock Brands, THCV is a unique cannabinoid that has potential therapeutic benefits for both appetite control and to provide a focused, energetic sense of euphoria. “At high doses, it acts as a CB1receptor agonist, like THC, producing a psychoactive effect described as uplifting, focused, and energetic. While at lower doses, “it acts as a CB1 antagonist, prevents THC from binding to the CB1receptor, reduces psychoactivity, and increases appetite control by potentially increasing insulin sensitivity.”
With such a diverse range of potential applications ranging from mood balance to appetite suppression (weight loss), one can understand why THCV is beginning to pique the interest of the scientific wellness community. InMed is positioned to become the first company to provide THCV to market at commercial scale.
While it’s too early too define the overall potential of THCV and the cannabinoid market, InMed Pharmaceuticals CEO Eric Adams believes it will be substantial. With 150 known rare cannabinoids in existence, the chances of another blockbuster like cannabidiol (CBD) surfacing is thought to be significant:
"The only reasonable comparison is to say—is to look at what happened to CBD. You know, how that came out of nowhere and is now a multi, multi billion dollar industry. I think that’s the potential that we’re looking at for THCV. I think, you know, we can play an important part as a manufacturer and supplier to people who formulate different compounds or different products. But, you know, the proof is going to be in the pudding. I can’t stand here and tell you what the revenues are going to be because it’s such a nascent market—it’s just getting off the ground. But, all indications are, it’s going to be impressively large."
On February 3, 2021, Jazz Pharmaceuticals plc entered into a definitive agreement to acquire GW Pharmaceuticals for $220.00 per American Depositary Share (ADS) for $7.2 billion. Consideration for the acquisition was almost entirely based upon GW Pharma’s development of lead product, Epidiolex (cannabidiol) oral solution, for the treatment of seizures associated with Lennox-Gastaut Syndrome (LGS), Dravet Syndrome and Tuberous Sclerosis Complex (TSC), all of which are rare diseases characterized by severe early-onset epilepsy.
As Mr. Adams notes, InMed Pharmaceuticals develops all rare cannabinoid products synthetically, avoiding regulatory issues associated with cannabis-touching businesses. The company employs a biosynthesis process where living organisms use enzymes to catalyze the conversion of simple substrates into complex products.
This article was originally published on The Dales Report and appears here with permission.
