InMed Pharmaceuticals Inc. provides an update on the impact of the recently signed H.R. 5371 on its subsidiary BayMedica Inc.
The company evaluates the potential negative impact of the Act on BayMedica's commercial business and rare cannabinoids inventory.
BayMedica is exploring alternative supply chain options to ensure regulatory compliance despite potential restrictions under the Act.
Impact of H.R. 5371
Signed into law, H.R. 5371 may negatively impact BayMedica's operations and inventory of rare cannabinoids.
Pharmaceutical Programs Unaffected
InMed's core pharmaceutical drug development programs remain unaffected by the new legislation, focusing on Alzheimer's and AMD treatments.
Regulatory Compliance Focus
BayMedica is actively seeking alternative supply chain options to maintain regulatory compliance under the Act.
- The Act, if enacted as is, poses a substantial threat to BayMedica's commercial operations and rare cannabinoid inventory.
- InMed Pharmaceuticals emphasizes commitment to its core pharmaceutical programs despite potential challenges to one of its subsidiaries.
- BayMedica's efforts to ensure regulatory compliance reflect a proactive approach to potential legislative impact.
InMed Pharmaceuticals remains dedicated to advancing its drug development programs, including treatments for Alzheimer's and age-related macular degeneration, amid regulatory uncertainties affecting BayMedica.