INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) is a penny play that’s clearly begun to spur some major big-league interest among players in the marketplace as shares bounce up off recent lows in a true breakout move. The most recent catalyst driving the action is the company’s announcement on Friday of a significant addition to the Board: Martin Bott, VP of Corporate Finance and Investment Banking at Eli Lilly & Company.
For a biopharma play in the red hot cannabinoid space, this is about as meaningful as a new board member could possibly be, bringing heavy-hitting experience that represents an integration of big pharma and investment banking in a single package. This is a company preparing for bigger things as we see it, and it will likely be a good idea to keep it on your radar.
INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) bills itself as a biopharmaceutical company specializing in developing cannabis-based therapies through the Research and Development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems.
The company is utilizing its proprietary Intelligent Cannabinoid Drug Design Platform to identify new bioactive compounds within the cannabis plant that interact with certain gene targets responsible for specific diseases.
Our extensive research and new intellectual properties will initially be focused on the development of several new cannabinoid-based treatments for Ocular, Cancer, Inflammation, Pain & Arthritis disease areas.
According to company materials, “InMed is a pre-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.”
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“Martin Bott has established a significant leadership position in financial and business expertise with one of the world’s leading pharmaceutical companies. His depth of knowledge in navigating the complexities in healthcare finance and operations on a global level will be invaluable to InMed,” said Eric A. Adams, President & Chief Executive Officer. “We welcome Martin to our Board and look forward to his strategic counsel as we work towards achieving our many corporate objectives.”
Mr. Bott has a Bachelors of Business / Marketing (Cologne, Germany, 1985) and a Master’s in International Business Studies (University of South Carolina, 1988). He joined Lilly in 1988 and has held roles of increasing responsibility at their headquarters in Indianapolis as well as affiliates in Switzerland, Germany, and the UK. Prior to his current assignment, Mr. Bott was the CFO for both the Diabetes Business and the Global Manufacturing and Quality organizations. He has been a member of the Lilly CFO Staff since December 2002.
“I am delighted to be joining InMed as a Board Member,” stated Mr. Bott. “InMed is at a pivotal point in its evolution. Its broad base of assets, from the drug development pipeline to the cannabinoid biosynthesis and other enabling technologies, will require careful planning and execution. I look forward to working with the other Directors and executive team to contributing to the achievement of InMed’s strategic initiatives and future growth.”
Traders will note 100% added to share values of the listing over the past month of action. Market participants may want to pay attention to this stock. IMLFF has a track record that includes a number of dramatic bounces. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of approaching 270% beyond its prior sustained average level.
Now commanding a market cap of $22.1M, IMLFF has a stash ($168K) of cash on the books, which must be weighed relative to virtually no total current liabilities. Hence, this is a strong balance sheet situation at this point, which is crucial given the company’s overall position as an emerging R&D play in a growth space. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $IMLFF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!