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InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) Builds Moat around Proprietary Biosynthesis Technology

  • Proprietary biosynthesis process to produce cannabinoids
  • Provisional patent application filed
  • Cost-effective methodology to produce trace cannabinoids

If you have any doubt that InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) is on the right track as it moves to protect its biosynthesis technology for cannabinoids, then a word from a famed figure may make you change your mind. Known worldwide for his investing prowess, Warren Buffett has said, “I don’t want a business that’s easy for competitors. I want a business with a moat around it with a very valuable castle in the middle” (http://cnw.fm/ehB50). Naturally, the Sage of Omaha was referring to an economic moat and not its tangible water-filled counterpart. One obvious way of constructing such an economic moat would be by registering a patent, which is exactly what InMed is planning to do. The company, which specializes in the research and development (R&D) of novel, cannabinoid-based drug therapies, has announced the filing of a provisional patent application for its proprietary biosynthesis process for the manufacture of cannabinoids that are identical to those found in nature (http://cnw.fm/H5Gey).

This filing is the first step in setting up defenses. Under U.S. patent law, a provisional patent application filed with the United States Patent and Trademark Office (USPTO) allows the filer to get a filing date and book a place in the queue. But, just as importantly, it affords protection for up to 12 months without filing a complete patent application. The provisional application may later be converted into a non-provisional one or be replaced by a regular patent application. The process in Canada, although not the same, is very similar.

To obtain protection outside North America, the Patent Cooperation Treaty (PCT) offers one streamlined route. The PCT procedure facilitates a patent application in all contracting states that are signatories with one filing, obviously a boon, since 145 sovereign states are members of the PCT. The PCT process allows the filing of an “international patent application,” which acts as an initial application for a patent in any member country. However, an “international patent application” never matures into an “international patent”. No such animal exists. A PCT filing simply reduces the burden of individual filings to contracting states and acts as a patent application to the contracting state in which the patent is meant to go into effect. Patents are issued by sovereign states and are always limited to national boundaries.

InMed’s provisional patent application will protect the biosynthesis process it has developed for the production of cannabinoids. In itself, biosynthetic production of chemicals is nothing new, but it really took off in 1978 after Genentech succeeded in modifying Escherichia-coli (E-coli) bacteria to produce synthetic insulin, a breakthrough credited with saving thousands of lives. Insulin is required by diabetics, whose bodies either do not produce the hormone or handle it inefficiently, in order to absorb glucose. In its absence, blood sugar increases to levels that may damage internal organs. Before biosynthesis, insulin was produced from the pancreas of pigs and cows in a costly, rather inhumane process.

InMed’s biosynthesis technology involves a process that can be applied to manufacture all the naturally occurring cannabinoids, through which the DNA of the cannabinoid to be produced is applied to Escherichia-coli (E-coli) bacteria. The E-coli DNA is then removed, leaving just the cannabinoid DNA, which can then replicate and multiply. This process combines the inherent safety and known efficacy of the natural drug structures with the convenience, control and quality of a laboratory-based manufacturing process.

InMed’s biosynthesis methodology will likely be used to produce the less naturally occurring phytocannabinoids such as delta-8 tetrahydrocannabinol (Δ8 THC), cannabidivarin (CBDv), and tetrahydrocannabivarin (THCv), although, for the present, the company is not saying. Regardless of which cannabinoid castles InMed decides to build, they will all be protected by a sturdy economic moat.

For more information, visit the company’s website at www.InMedPharma.com

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