InMed Launches Cannabicitran (CBT), Expanding its Rare Cannabinoid Portfolio for the Health and Wellness Sector
- CBT is the first of several rare cannabinoid launches planned for the first half of 2022; includes CBDV and THCV
- Expands the Company’s rare cannabinoid product portfolio, which also includes cannabichromene (CBC)
- Strengthens leadership position in commercial scale production of high demand rare cannabinoids
InMed Pharmaceuticals Inc.(Nasdaq: INM), a leader in the research, development, manufacturing and commercialization of rare cannabinoids, is pleased to announce it has launched B2B sales of the rare cannabinoid cannabicitran (CBT) into the health and wellness sector. CBT is the first of several new product launches planned for the first half of 2022.
InMed’s subsidiary, BayMedica, has received initial purchase orders and has commenced commercial sales of the ultra-rare cannabinoid CBT. CBT is the second rare cannabinoid to be launched by BayMedica, which also sells CBC wholesale as a raw ingredient to the health and wellness sector. Additionally, commercial scale production of cannabidivarin (CBDV) is underway, with tetrahydrocannabivarin (THCV) production scheduled to follow shortly thereafter. The Company expects to produce over 100kg of CBDV and THCV in the coming months to meet anticipated initial demand.
We are delivering on our objective to launch additional rare cannabinoids in early 2022 in response to inbound demand. By midyear, we expect to have at least four rare cannabinoids available for the health and wellness markets, positioning us as a leading large scale supplier of high quality rare cannabinoids in these sectors. The launch of CBT further demonstrates our ability to produce rare cannabinoids at commercial scale, an achievement that very few companies have been able to accomplish. We are pleased with initial demand and we expect to grow sales over the coming quarters as we continue to expand our product portfolio of rare cannabinoids.
Shane Johnson, SVP and General Manager of BayMedica
Increasing Demand For Rare Cannabinoids
This emerging market is expected to grow significantly due to the increasing awareness of the potential benefits of cannabinoid-based products. According to the December 2021 Grand View Research report, the retail market for rare cannabinoids is expected to reach US$26 billion by 2028 with a forecasted compounded annual growth rate (CAGR) of >20% during the same period.
With the availability of these rare cannabinoids at commercial scale, product manufacturers and consumer brands now have the ability to deliver differentiated products, including augmenting existing CBD-based products, to consumers in the health and wellness marketplace.
InMed / BayMedica Commercial Advantage
With flexibility across multiple manufacturing approaches, and its ability to scale up to meet market demand, InMed is well positioned to take advantage of this rapidly growing industry. The Company’s proprietary processes ensure the production of rare cannabinoids with the quality, consistency and purity required for each target market.
BayMedica manufactures rare cannabinoids through proprietary synthetic methods that ensure reproducible quality and purity. Its products are produced under food-grade GMP standards, are bioidentical to plant derived compounds and certified by 3rd party laboratories. These cannabinoids can be custom formulated for a variety of consumer health and wellness applications including supplements, nutraceuticals, cosmetics and animal health.
For more information on how to purchase CBT and other rare cannabinoids, please reach out to the BayMedica sales team at: [email protected]
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