Corporate Presentation September 2020 www.inmedpharma.com :IN - - PowerPoint PPT Presentation

U N L O C K I N G T H E P O T E N T I A L O F C A N N A B I N O I D M E D I C I N E S

Corporate Presentation

September 2020

www.inmedpharma.com :IN :IMLFF

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This presentation does not constitute an offering to sell or a solicitation of an offer to buy securities and the information contained herein is subject to the information contained in the Company’s continuous disclosure documents on SEDAR at www.sedar.com. Information concerning the assets and operations of the Company included in this presentation has been prepared in accordance with Canadian standards and is not comparable in all respects to similar information for United States

• companies. In addition, any financial information included in this presentation has been prepared in Canadian dollars,

except as otherwise indicated, and is subject to applicable Canadian generally accepted accounting principles and Canadian auditing and auditor independence standards, which differ from United States generally accepted accounting principles and United States auditing and auditor independence standards in certain material respects. The information provided in this presentation is not intended to provide financial, tax, legal or accounting advice. The Company exists under the laws of the Province of British Columbia, Canada. A substantial portion of the Company’s assets are located outside the United States. As well, some of the Company’s officers and directors are residents of

• Canada. As a result, it may be difficult for investors to enforce civil liabilities under United States federal or state

securities laws.

Disclaimers

Corporate Presentation September2020

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This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements”) including, among others, statements concerning: unlocking the full potential of cannabinoid pharmaceuticals; anticipated clinical development activities, timelines, catalysts, and milestones; the potential benefits of product candidates; anticipated revenue and market opportunities; and the continued availability of key personnel. All statements

• ther than statements of historical fact are statements that could be deemed forward-looking statements.

With respect to the forward-looking information contained in this presentation, the Company has made numerous assumptions regarding, among other things: continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; demand for the Company’s products; continued availability of key personnel; continued access to sufficient capital to fund operations; and continued economic and market stability. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and

• ther factors that could cause actual results to differ materially from those described in the forward-looking statements. These risks

and uncertainties include, among others: the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results; risks associated with obtaining funding from third parties; risks related to the timing and costs of clinical trials; key personnel may become unable to serve the Company; the need for receipt of regulatory approvals; and economic and market conditions may worsen. Readers are cautioned that the foregoing list is not exhaustive. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s annual information form dated September 26, 2019, a copy of which is available on SEDAR at www.sedar.com. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, except as required by law.

Forward Looking Statements

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Presentation September2020 Corporate

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Eric A. Adams, MIBS Chief Executive Officer Bruce S. Colwill, CPA, CA Chief Financial Officer Alexandra Mancini, MSc SVP , Clinical and Regulatory Affairs

30+ years of experience in global biopharma leadership: business development, sales, marketing, and M&A with enGene, QLT , Abbott, Fresenius 25+ years of financial leadership with private and public companies; executing IPO, equity and debt financings General Fusion, Entrée Resources, Neuromed Pharma 30+ years of global biopharma R&D experience,

• verseeing drug development with Sirius

Genomics, Inex Pharmaceuticals, and QLT

Experienced Executive Team

Michael Woudenberg, PEng Vice President, CMC Eric Hsu, PhD SVP , Preclinical R&D

20+ years of engineering, scale-up and GMP manufacturing experience with Phyton Biotech, Arbutus Biopharma, 3M and CardiomePharma 20+ years of scientific leadership experience with enGene in gene transfer technologies, formulation and process development Corporate Presentation September2020

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A Differentiated Cannabinoid Pharmaceutical Company

Focused on the Therapeutic Application of Cannabinoids for the Treatment of Diseases with High Unmet Medical Needs

Researching the therapeutic potential of rare cannabinoids, beyond THC & CBD, beginning with cannabinol (CBN) Developing IntegraSyn - a flexible, integrated cannabinoid manufacturing system using novel enzyme(s) to efficiently produce bio-identical, economical, pharmaceutical-grade cannabinoids. Selecting innovative, topically applied cannabinoid therapies where we can establish a proprietary foothold in treating diseases with high unmet medical needs, starting with dermatology and ocular diseases

Corporate Presentation September2020

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Note: lists are not exhaustive

The Opportunity & Challenge of Rare Cannabinoids

100+ Rare Cannabinoids

2–20% <1%

Major Cannabinoids

THC CBD

• Epilepsy
• Anxiety
• Stress

Disorder

• Pain
• Inflammation
• Nausea
• Stress

Disorder

• Sleep Apnea

CBN, CBG, CBGA, CBGV, CBGVA, THCV, THCVA, CBC, CBCV, CBCVA, CBDV, CBC, CBCA, CBNA…

• The 100+ rare cannabinoids occur in

extremely low amounts in the cannabis plant

• The cost of extracting sufficient quantities
• f these cannabinoids can be prohibitive
• The challenge is how to manufacture

sufficient quantity & purity to investigate, and potentially commercialize, rare cannabinoid-based therapies

Corporate Presentation September2020

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Limitations of Traditional Cannabinoid Production Approaches

• Bioburden/stress on microbe

may limit final yields

• Separation and purification

challenges to isolate cannabinoid from mixture

• Process costs / complexity

increase with each new cannabinoid

• May not produce bio-identical

cannabinoid depending on cannabinoid complexity

• Potential for significant yield loss

due to purification / removal of the non-bio-identical cannabinoids

• Complicated and costly scale-up

due to purification techniques

BIOSYNTHESIS CHEMICAL SYNTHESIS

• Access to rare cannabinoids

prohibitively expensive

• Limited quantity in the plant
• Plant > Grow > Harvest > Extract >

Purify process is resource intensive, large carbon footprint

• Much longer cycle time
• Quality/consistency issues,

pesticide removal challenges may result in import/export restrictions

EXTRACTION

Corporate Presentation September2020

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IntegraSyn™ is InMed’s integrative cannabinoid manufacturing approach IntegraSyn™: Biosynthesis Evolved

Minimizes bioburden

• n fermentation

microbe Flexibility to shift from production of one cannabinoid to a range of cannabinoids Optimized steps to produce high-yield, pharma-grade cannabinoids at commercial scale Transferable technology to facilitate scale-up, manufacturing and supply Commonly available and cost-efficient starting materials

Corporate Presentation July2020

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Cost-Efficient Cannabinoid Production with IntegraSynTM

• E. coli

Fermentation Enzymatic Reaction

Upstream Processing Downstream Purification

Separation of Cannabinoid from Reaction Mixture

Enzyme BIOSYNTHESIS

Crude Cannabinoid Mixture Drying

BIOTRANSFORMATION

Further Cannabinoid Production

CHEMICAL SYNTHESIS

API Grade Cannabinoid Path 1 Path 2

PURIFICATION

OR

Path 1

• r

Path 2

• Flexible
• Modular
• Cost-Efficient
• Scalable

Corporate Presentation July 2020

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Note: lists are not exhaustive

Cannabinoid Manufacturing: Competitive Landscape

IntegraSynTM Yeast Biosynthesis Algae/Other

KEY PARTNERSHIPS R&D Commercial

A flexible, integrated cannabinoid synthesis approach using a novel enzyme(s) and various standard pharma manufacturing processes to efficiently produce bio-identical, economical, GMP-grade cannabinoids.

Chemical Synthesis

Corporate Presentation September2020

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USP – Up-stream Process (Fermentation); DSP – Down-stream Process (Purification); GMP – Good Manufacturing Practices; NRC – National Research Council of Canada; CDMO – Contract Development and Manufacturing Organization

From Biosynthesis to IntegraSynTM: High-level Time & Event Schedule

2019

HPLC assay tech transfer to NRC Up-stream fermentation tech transfer to NRC Bioreactor fermentation condition optimization Processing of patent applications Finalized USP development at NRC DSP development at Almac Conducted alternative process studies at Almac Decision on future manufacturing pathway

1H 2020 2H 2020

PCT application filed Continue scale-up of IntegraSynTM process with Almac Conduct analytical assay development to support batch production Optimize pathways for production of other cannabinoids Identify potential partnership

• pportunities

Completed Pending

Corporate Presentation September 2020

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InMed is the Leader in Cannabinol (CBN) Therapeutic Development

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• A rare cannabinoid with unique physiological and safety properties
• Found in trace amounts in the plant; impractical to extract
• InMed conducted 30+ preclinical pharmacology and toxicology studies
• Generally considered non-psychoactive
• No adverse events on central nervous system (CNS) function from assessment of

108 aspects of behavior posture, gait, and movement

Cannabinol (CBN)

* Based on internal preclinical in vitro & in vivo studies

API in Lead Product Candidates: INM-755 (dermatology) & INM-088 (ocular)

Corporate Presentation September2020

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Epidermolysis Bullosa

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• Epidermolysis bullosa (EB) is a group of rare genetic skin diseases

characterized by fragile skin that blisters easily from minimal friction that causes shearing of the skin layers.

• The most common form is EB Simplex (EBS), ~55% of all EB patients.
• The affected population in the United States is estimated to be between

12,500 and 25,000 in the United States.

• No therapies approved specifically for the treatment of EB.

Current treatment involves many products focused on symptoms and wound healing.

• INM-755 being investigated for both symptomatic relief

and by enhancing skin integrity in subset of EBS patients.

Photograph of Dystrophic EB

Corporate Presentation September2020

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Targeting Disease Hallmarks in All EB Patients Further Evaluate Ability to Strengthen Skin in a Subset of EBS Patients Being Investigated to Deliver Potential Symptomatic Relief:

• Reduce inflammation
• Healing of chronic wounds
• Pain reduction

Other Potential Effects of Cannabinoids:

• Itch reduction
• Antimicrobial activity

Dermal/ Epidermal Junction Dermis Epidermis Blister

EB Simplex: K14 malformations

INM-755 for Epidermolysis Bullosa

Corporate Presentation September2020

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INM-755: 30+ Safety Pharmacology and Toxicology Studies

• CBN-mediated reduction of key inflammatory markers (IL-8 & MMP-9)

suggests INM-755 may:

• Reduce incidence and/or severity of blistering if applied to intact skin
• Improve healing when applied directly to chronic wound
• INM-755 upregulation of Keratin 15 may offset Keratin 14 dysfunction in EBS,

leading to increased skin integrity/strength and fewer blisters

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• INM-755 API (CBN) demonstrated preclinical safety:
• 20+ toxicology and safety pharmacology studies: no safety concerns identified in

these studies for the intended application

• INM-755 highly unlikely to produce psychoactivity or other CNS toxicity:
• no adverse effects on CNS, even at 10,000 times expected systemic exposure after topical dosing
• Cream formulation without CBN:
• well tolerated on intact skin and small open wounds in humans

Corporate Presentation September2020

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INM-755: Summary of Completed and Planned Clinical Studies, 2020-2021

Initiate / Treat 4Q19–3Q20 In Netherlands File CTAs in 1Q21 Global Phase I 755-101-HV Phase I 755-102-HV Phase I/II 755-201-EB

Enrollment 22 healthy volunteers 8 healthy volunteers 12-15 EB patients (all subtypes) Masking Double blind, vehicle controlled Double blind, vehicle controlled Double blind, vehicle controlled Primary Purpose Systemic and local safety, PK Local safety Systemic and local safety, efficacy Treatment and Duration 14 days on intact skin; two strengths 14 days on small wounds; two strengths 1 month on intact skin and maybe wounds; two strengths Efficacy Endpoints None None All efficacy parameters Notes Adults only Adults only Adults (~3), then adolescents (~3), then children 2+yrs

Corporate Presentation September 2020

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INM-755: High-Level Time/Event Schedule

2019 Selected single cannabinoid for INM-755 Contracted additional preclinical safety studies Selected EU CRO for Phase 1 healthy volunteer studies Completed requisite tasks for clinical trial initiation:

• CTA-enabling toxicology program
• Product manufacturing for Ph 1
• Investigator’s Brochure and CMC summary for CTA
• Filed CTA in the Netherlands; CTA approved

Initiated Phase 1 Trial 755-101-HV

1H 2020 2H 2020

Exhibited key preclinical data at EB World Congress Completed enrollment in 755-101-HV Filed CTA in the Netherlands for 755-102-HV Completed patient treatment in 755-101-HV Initiated Phase 1 Trial 755-102-HV Compete enrollment in 755-102-HV Report results from 755-101-HV Complete patient treatment in 755-102-HV Report results from 755-102-HV Prepare global regulatory submissions for 755-201-EB trial for filing in 1Q20 Completed Pending

Corporate Presentation September 2020

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Glaucoma Epidemiology & Market Opportunity

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• In 2010, 44.7 million people worldwide were affected by OAG
• Open Angle Glaucoma (OAG), the most common form
• More than 2.8 million Americans are living with glaucoma; projected to surpass

3.4 million in 2020

• Second leading cause of blindness worldwide as well as in the USA
• There is no current cure for glaucoma
• Early diagnosis and treatment can control the disease before vision loss or blindness
• High intraocular pressure does not cause glaucoma; it is only a risk factor
• Global glaucoma market anticipated to be US$10 billion by 2026
• Valued at US$6 billion in 2018
• CAGR of 6.1%

Corporate Presentation September2020

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Potential Roles for CBN in Glaucoma

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• Direct neuroprotection for the

retina and optical nerve.

• Reduce the intraocular pressure

(IOP) in the affected eyes via increased fluid drainage Target Effects of CBN

Build Up of Aqueous Humor Fluid Optic Nerve

Pressure

Retina

Corporate Presentation September2020

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INM-088: CBN Ocular Preclinical Studies

CBN Preclinical Study Neuroprotection IOP Reduction

RGC Survival under pressure (in vitro) Effect on RGC apoptosis (in vitro) Impact on IOP associated biomarkers under pressure conditions (in vitro) Neuronal function after CBN Exposure in Glaucoma model (measured by pERG, in vivo) IOP reduction after CBN Exposure in Glaucoma model (in vivo)

Corporate Presentation September2020

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INM-088: High-Level Time/Event Schedule

2019 2020 2021 & Beyond

Completed selection of API Initiated / completed preliminary preclinical neuroprotection studies Filed PCT patent for neuroprotection Complete formulation data analysis & select preferred delivery technology Conduct additional PoC preclinical studies (if needed) Initiate process development for INM-088 drug product Complete IND/CTA enabling toxicology studies File IND/CTA (1Q2022) Initiate Clinical Trial Program (2022)

Completed Pending

Corporate Presentation September 2020

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Intellectual Property Portfolio and Commercial Exclusivity

INM-755 (EB) INM-088 (Glaucoma) Biosynthesis / IntegraSynTM

• A method of treating EBS with

cannabinoid or mixture of cannabinoids topically to upregulate keratin expression (PCT 2017)

• Topical formulations of CBs and

their use in treatment of pain (PCT 2018)

• Cannabinoid-based therapy for

Glaucoma - Neuroprotection (PCT 2020)

• Hydrogel formulation

(PCT 2018)

• Bi-Functional enzyme to

upregulate precursor / substrate for CB (PCT 2018)

• Precursor upregulation and

expression of CB in

• E. coli (PCT 2020)
• Potential additional commercial protection through orphan disease

designation (e.g. EB, +7-10 yrs.), pediatric indication (+6-24 mo.) and new chemical entity (+5 yrs.)

• Potential additional opportunities to accelerate clinical

development & regulatory review (e.g. FDA “Breakthrough”, “Fast- Track” and/or “Priority Review” status, pediatric voucher)

Corporate Presentation September2020

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Key Upcoming Milestones*

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IntegraSynTM INM-755 for EB INM-088 for Glaucoma

• Complete patient treatment in

755-102-HV

• Report Results from both 755-

101-HV and 755-102-HV

• Prepare and file global regulatory

submissions for 755-201-EB trial (1Q21)

• Initiate Phase I/II EB trial (2021)
• Scale-up of IntegraSynTM process

at Almac

• Conduct analytical assays

development and process development to support batch production

• Initiate GMP batch production at

CDMO (if needed) (2021)

• Complete formulation data

analysis and select preferred delivery technology

• Conduct additional preclinical

studies (if needed)

• Initiate and complete IND/CTA

enabling toxicology studies

• Prepare and file IND/CTA (2022)
• Initiate first clinical trial (2022)

* Latest best estimates. InMed is in frequent communication with our vendors and collaborators to monitor the COVID-19 situation and ‘return-to-work’ guidelines.

Corporate Presentation September 2020

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Board of Directors

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William Garner, MD

Founder of EGB Ventures LLC (Chairman)

Andrew Hull

Former VP of Global Alliances at Takeda Pharmaceuticals

Eric A. Adams

President and CEO of InMed Pharmaceuticals

• 25+ years’

experience as biotech entrepreneur

• Chairman/Founder
• f Race Oncology

(ASX:RAC). Formerly Director +/- Executive at IGXBio; Invion Limited; Del Mar; Hoffmann LaRoche and healthcare merchant banking

• 30+ years’

pharma/biotech commercial leadership experience

• Previously in

various leadership roles with Immunex and Abbott Laboratories. Former two-term Chairman of Illinois Biotech Industry Organization

• 30+ years’

experience in global biopharma leadership

• Business

development, sales, marketing, and M&A with InMed, enGene, QLT, Abbott, Fresenius

Adam Cutler

CFO at Molecular Templates, Inc.

• 20+ years’

experience in Equity Research, Corporate Affairs and Strategy, IR

• Formerly with Trout

Group, Credit Suisse, Canaccord Genuity, JMP Securities, BoA Securities, E&Y Healthcare Consulting

Catherine Sazdanoff

JD, Healthcare Industry Board Member and Consultant

• 35+ years’

experience including global leadership in corporate development, BD, legal and other areas

• Roles with Abbott

Labs, Takeda Pharma, and Strata

• Oncology. Director,

Meridian Biosciences, Inc.

Corporate Presentation September2020

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Scientific Advisory Board

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Mauro Maccarrone, PhD Steven Dinh, ScD Vikramaditya G. Yadav, PhD

• Prof. and Chair, Biochemistry &

Molecular Biology at Campus Bio- Medico, University of Rome

• Former President, International

Cannabinoid Research Society and recipient of their 2016 Mechoulam Award

• Founding member of the

European Cannabinoid Research Alliance

• Authored 460 published papers

holds eight issued patents

• Dr. Dinh has 30+ years of industry

experience, which has resulted in 60+ patent applications, 6 NDA approvals and the successful commercialization of 9 products

• Fellow of the American

Association of Pharmaceutical Scientists and of the American Institute for Medical and Biological Engineering

• Doctoral degree from MIT
• Asst. Prof., Department of

Chemical & Biological Engineering and School of Biomedical Engineering, UBC

• Serves as the Chair of the

Biotechnology Division, Chemical Institute of Canada

• Recognized by Medicine Maker as
• ne of the 100 most influential

people in drug development / manufacturing

• PhD in Chemical Engineering from

MIT

Corporate Presentation September2020

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Financial Snapshot

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:IMLFF :IN Previous Close (2020-09-04) US$4.14 C$5.43 52-week High US$11.08 C$14.36 52-week Low US$3.44 C$4.70

• Avg. Volume (Daily; Trailing 3 Month)

12,726 11,682 Market Cap, I/O (2020-09-04) US$21.4M C$28.5M Shares I/O (Pre- and Post-consolidation) 172.3 M 5.22 M Options (Pre- and Post-consolidation) 19.36 M 0.59 M Fully Diluted Shares (2020-06-20) 191.66 M 5.81 M Cash Equivalents and Short-term Investments US$5.4 million at June 30, 2020

Corporate Presentation September2020

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InMed at a Glance

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Diverse pipeline across a spectrum of diseases with high unmet medical needs Robust, innovative and disruptive biosynthesis manufacturing technology World class leadership with successful track record in drug development Multiple significant catalysts and milestones

Building a Technologically Advanced Cannabinoid Pharmaceutical Company Unlike Any Other…

Corporate Presentation September2020

Thank You!

Eric A. Adams

Chief Executive Officer eadams@inmedpharma.com +1-604-669-7207

Bruce S. Colwill

Chief Financial Officer bcolwill@inmedpharma.com +1-604-669-7207

:IN :IMLFF www.inmedpharma.com