Rare Cannabinoids: The Next Big Thing in Healthcare?
September 17, 2023Table of Contents
The Potential of Rare Cannabinoids: The Healthcare Revolution You Didn’t See Coming
What Are Rare Cannabinoids?
Rare cannabinoids are a group of compounds found in trace amounts in the cannabis plant. While THC and CBD have dominated the discourse, the conversation is slowly but surely expanding to encompass these lesser-known but highly promising compounds.
The Catalyst for Change: InMed Pharmaceuticals and BayMedica
InMed Pharmaceuticals, a clinical-stage biopharmaceutical company, has been a major player in pioneering rare cannabinoid therapies. In 2021, InMed acquired BayMedica, a supplier specializing in rare cannabinoids for the health and wellness sector. This acquisition has played a significant role in accelerating research and scaling up production.
Explosive Growth in the Rare Cannabinoid Market
According to unaudited revenues released in July, InMed showed a staggering 123% growth for Q4, fiscal 2023. BayMedica itself posted 120% growth in third-quarter revenue and 46% in its second quarter. So, what’s driving this exponential growth?
The BayMedica Portfolio
BayMedica’s leading product is cannabichromene (CBC), which boasts numerous health benefits without the psychoactive effects usually associated with cannabis. Its portfolio also includes THCV, CBDV, and CBT—cannabinoids that can either stand alone or be combined with THC and CBD to create innovative health and wellness products.
The Entourage Effect
Research has indicated that the effectiveness of individual cannabinoids may be amplified when used in combination, a phenomenon known as the entourage effect. For example, CBC’s anti-inflammatory and pain-relieving effects can be enhanced when combined with THC. This multi-cannabinoid approach is attracting significant attention and driving up demand.
Scaling Up to Meet Demand
With increasing interest and revenue, BayMedica has brought on a new director of manufacturing and logistics. The company is optimizing its supply chain, expanding sources of raw material, and partnering for downstream purification to ensure scalability.
Regulatory Winds Are Shifting
The Department of Health and Human Services (HHS) has recently recommended reclassifying marijuana to Schedule 3—a category for drugs with moderate to low potential for abuse. If the DEA concurs, this could open new doors for research and potentially lift restrictions on cannabis businesses.
Why Should You Care?
- Potency and Efficacy: Rare cannabinoids tend to be more potent and have a broader range of therapeutic effects.
- Investment Opportunity: With BayMedica as a revenue-generating subsidiary, InMed offers a unique proposition. Already listed on Nasdaq, it stands as one of the few cannabis-aligned companies on a major exchange.
- Promising Pipeline: In addition to skin disorders, InMed and BayMedica are extending their reach to conditions such as glaucoma, age-related macular degeneration, and neurodegenerative diseases.
The Future Is Now
As BayMedica scales and InMed continues its groundbreaking work, the world is gradually waking up to the enormous potential of rare cannabinoids. With more lenient regulations on the horizon and an expanding body of research, the future of this emerging sector looks brighter than ever.
Disclaimer: This blog post is for informational purposes only and should not be considered medical advice. Always consult with a healthcare provider for medical advice and treatment.
