Preclinical stage biopharmaceutical company Inmed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) this morning announced that it has closed its previously detailed non-brokered private placement for gross proceeds of C$9.4 million through the issuance of 13.4 million units, following terms previously announced on December 18, 2017. The original offering generated anticipated gross proceeds of C$2.5 million. “The Company welcomes such a positive response from the investment community,” Eric A. Adams, president and CEO of InMed, stated in the news release. “We are very pleased to be in a position to close the financing, on an oversubscribed basis, so quickly. With this financing, InMed is well positioned with a strong balance sheet to continue to execute on corporate objectives. We have significantly extended the cash runway for our lead programs, INM-750 for EB and biosynthesis, and will be able to make significant advancements for both INM-085 for glaucoma and INM-405 for pain.” In addition to using proceeds from this placement for general working capital and corporate purposes, InMed indicated that it intends to seek a listing of its common shares on the Toronto Stock Exchange.

To view the full press release, visit http://dtn.fm/lc1HB

Let us hear your thoughts: Inmed Pharmaceuticals, Inc. Message Board

About InMed

InMed is a preclinical stage biopharmaceutical company specializing in the research and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. InMed conducts research, discovery, preclinical, clinical, regulatory, manufacturing and commercial development activities for its product candidates. InMed’s proprietary bioinformatics database assessment tool, the biosynthesis manufacturing process and its drug development programs are the fundamental value drivers of the Company. For more information, visit www.InMedPharma.com

About QualityStocksNewsBreaks

QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.

QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
[email protected]

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php