InMed Continues to Make Significant Strides on Biosynthesis Program Development

Superior to plant-sourced cannabinoids, biosynthesis is less time-consuming and less expensive, eliminating the need for planting, growing, harvesting and extracting. There are also economic and environmental savings such as substantially reduced resource requirements versus plant-sourcing (water, electricity, manpower, etc.). Furthermore, the growing process has several hard-to-remove impurities (pesticides, herbicides, fertilizers), potentially presenting significant safety issues. As with all crops, yield fluctuations present an additional risk. Only 2-3 cannabinoids can be extracted from the plant in sufficient quantities to make the process economically viable.

Adams adds, "The biosynthesis process opens up access to drug discovery and therapeutic use of all 90+ cannabinoids, most of which occur in only trace amounts in the plant and cannot be extracted in an economical fashion."

InMed plans the following next steps for this promising technology:

• Continue to generate new patents for the biosynthesis process leading to 'gateway' and 'downstream' cannabinoids
• Optimize and validate system performance criteria with the pilot scale facility at University of British Columbia
• Produce at pilot scale several downstream cannabinoids at pharmaceutical-grade purity
• Scale-up the pilot production methods to commercial-size facility together with external vendors with extensive biosynthesis expertise
• Optimize the commercial system to maximize quantities while minimizing time/cost

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.

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: the viability of its biosynthesis process for manufacturing cannabinoids and the expected fundamental value drivers of the Company.

With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding biosynthesis and its processes: the patentability of the process; the successful commercial development of InMed's biosynthesis assets; the expected fundamental value drivers of the Company; and others. 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: may be successful in advancement of InMed's Biosynthesis assets; InMed's biosynthesis assets may never be suitable for commercial production of cannabinoids; and InMed's proprietary platform technology, product pipeline and drug development programs may not return their expected level of value.

A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR 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.

SOURCE InMed Pharmaceuticals Inc.