InMed starts studying effects of cannabinoids on nerve diseases; shares rise
16/11/2022 14:45
** InMed Pharmaceuticals Inc's shares INM.O rise 36.3% to
$3.80
** Co launches program to study the effect of compounds
similar to cannabinoids, a chemical component of cannabis, on
neurodegenerative diseases urn:newsml:reuters.com:*:nGNX8bkRQN
** Says it has identified two cannabinoid analogs
demonstrating promising effects on neurodegenerative diseases,
will be conducting studies to select the most appropriate
candidate for clinical studies
** INMD's collaborative research projects for cannabinoid
pharmaceutical candidates have received funding from Canadian
agency NSERC
** INMD expects early preclinical efficacy readout in 2Q
2023
** Neurodegenerative diseases, such as Alzheimer's,
Huntington's and Parkinson's, cause nerve cells in the brain or
peripheral nervous system to lose function over time and die
** Up to last close, stock was down 91.5%
(Reporting by Nandhini Srinivasan in Bengaluru)
((nandhini.srinivasan@thomsonreuters.com))