VANCOUVER, BRITISH COLUMBIA--(Sept. 3, 2015) - InMed Pharmaceuticals Inc. ("InMed" or "the Company") ($IN:CA)($IMLFF), a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based therapies combined with innovative drug delivery systems, announced today that Paul Brennan, a 25-year veteran of the life sciences industry, has joined InMed as President & CEO, effective September 14, 2015. Mr. Brennan succeeds Craig Schneider who will remain on the board of directors.
Craig Schneider, Director, states, "We are extremely pleased that at this critical stage in the Company's development, Mr. Brennan will be taking the helm of InMed and leading the Company through to its next clinical trials, financings and infrastructure buildout. Paul has extensive M&A, general management, financial, corporate and drug development expertise. We are fortunate to be under the leadership of an executive with broad global pharmaceutical development and commercialization experience with a proven track record of successfully bringing life science products to market on a global scale. We are pleased to bring his experience to bear on InMed's operations as we make progress toward delivering meaningful therapies to underserved markets."
Mr. Brennan was previously Senior Vice-President of Business Development at Arbutus Biopharma (formerly Tekmira Pharmaceuticals - NASDAQ). Previously he has held a number of senior management and consulting positions at biotech companies based in the U.S.and Canada. Mr. Brennan served as CEO of Altair Therapeutics, an emerging biopharmaceutical company based in San Diego, which focused on developing inhaled oligonucleotides for respiratory diseases. Prior to Altair, Mr. Brennan was Senior Vice President, Business Development at Aspreva Pharmaceuticals and was involved in the sale of Aspreva to Vifor Pharma for $915 million. Mr. Brennan was also employed at AnorMED where he held a number of roles including Acting President during which time he was involved in the sale of AnorMED to Genzyme for $580 million. Mr. Brennan has held senior positions in business development and regulatory affairs at AstraZeneca, where he worked in Sweden, the United Kingdom and Canada.
"I am excited for this opportunity and am excited to lead our talented and dedicated team. InMed's corporate strategy, strong pipeline and innovative development programs, provides a solid basis for long-term value. I am passionate about our prospects, and look forward to working for the benefit of patients, physicians, and shareholders as we advance our products through the clinic and into the market to deliver innovative and efficacious products."
Mr. Brennan earned his B.Sc. in Life Sciences and his M.Sc. in Physiology from Queen's University, in Kingston, Ontario.
InMed is a clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed's proprietary platform technology, product pipeline and accelerated development pathway are the fundamental value drivers of the company.
For more information, visit www.inmedpharma.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about Mr. Brennan acting as President and CEO of the Company; Mr. Schneider remaining on the board of directors; and the fundamental value drivers of the company. With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: Mr. Brennan's continued ability to serve as President and CEO; Mr. Schneider's continued ability to serve as a director; continued demand for InMed's products; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause InMed's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the possibility that Mr. Brennan will no longer be willing or able to serve as President and CEO; the possibility that Mr. Schneider will no longer be willing or able to serve as a director; InMed's proprietary platform technology, product pipeline and accelerated development pathway may not return their expected level of value; and economic or market conditions may worsen.
A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
InMed Pharmaceuticals Inc.
President and Chief Executive Officer
Investors: InMed Pharmaceuticals Inc.
SVP, Corporate Strategy and Investor Relations
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