Vancouver, BC, September 23, 2025 – InMed Pharmaceuticals has reported its full‐year fiscal 2025 financial results and provided a business update, including progress in its Alzheimer’s disease candidate INM-901, eye disease drug INM-089, revenue growth in its rare cannabinoid‐based commercial unit BayMedica, and a cash runway extending into late 2026.
Science Significance
InMed’s pipeline advances represent multi-pathway approaches: INM-901 shows statistically significant reductions in neuroinflammation, independent of amyloid or tau, along with improved cognition and behaviour in Alzheimer’s mouse models; INM-089 demonstrates neuroprotective effects in dry age-related macular degeneration (AMD) models, including a selected intravitreal formulation with promising safety margins.
Regulatory Significance
The company is preparing for IND-enabling studies and Chemistry, Manufacturing and Controls (CMC) activities for INM-901, aiming toward regulatory interactions; INM-089 moves toward intravitreal delivery refinement, requiring safety data and ocular toxicology work. These preclinical and formulation advances are essential for satisfying regulatory bodies before human trials
Business Significance
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Financially, InMed recorded a net loss of USD 8.2 million in FY2025, modestly higher than the prior year, while BayMedica’s revenue grew about 8%, reaching USD 4.9 million. The firm has USD 11.1 million in cash and short-term investments, sufficient to support operations through Q4 2026, assuming current spending and revenue trajectories. Pipeline cost pressures in R&D are expected to increase.
Patients’ Significance
For patients suffering from Alzheimer’s disease, the promise that INM-901 could modulate neuroinflammation through multiple pathways (not just amyloid/tau) offers hope for disease-modifying treatments; for those with dry AMD, the eye-targeted INM-089 may provide functional and pathological improvements, reducing risk of vision loss. If successful, these treatments could shift both onset progression and quality of life.
Policy Significance
With global aging populations, Alzheimer’s and AMD are high health-policy priorities; governments and funding agencies are under pressure to support therapeutic innovation. Demonstrations of safety, efficacy, and cost-effectiveness are central to reimbursement policies. Progress by companies like InMed may influence policy decisions around early regulatory support, accelerated pathways, or incentives for rare and neurodegenerative disease drug development.
InMed’s fiscal 2025 report underscores a balancing act: advancing a promising small-molecule portfolio in Alzheimer’s and ocular disease, growing its commercial rare cannabinoid arm, and managing financial resources to reach critical preclinical and regulatory milestones. The next year will be pivotal: success in IND-enabling studies, demonstrating safety and formulation advances, could shift InMed from preclinical promise toward clinical trials, with meaningful implications for patients and the broader pharma landscape.
Source: InMed Pharmaceuticals Press Release
