NetworkNewsWire Editorial Coverage: The upward trajectory of the cannabis industry has garnered comparisons to the Internet boom of the early 2000s, as North American sales are on pace to record a compound annual growth rate of 25 percent through 2021, according to Arcview Market Research. These comparisons are certainly attention-grabbing, but the full potential of the evolving marijuana market could be even larger. InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) (IMLFF Profile), a Vancouver-based biopharmaceutical company, has developed a robust, high-yield biosynthesis process capable of enabling the manufacture of all 90+ naturally-occurring cannabinoids found in the cannabis plant. This could be a game changing development for companies operating within the burgeoning sector, including Axim Biotechnologies, Inc. (OTCQB: AXIM), GW Pharmaceuticals (NASDAQ: GWPH), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) and pharmaceutical heavyweight Eli Lilly and Company (NYSE: LLY).
Perhaps the clearest way to demonstrate the potential of an effective cannabinoid biosynthesis platform is to study a more established product – bio-synthetic insulin. Healthline estimates that 29.1 million people in the United States have diabetes, with diagnosed cases costing the country an estimated $245 billion in 2012. Although the chronic disease accounted for nearly 1.6 million deaths in 2015, according to data from the World Health Organization, a scientific breakthrough in 1921 greatly improved...
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