IGC Launches Phytocannabinoid Development Committee to Secure Preclinical Initiatives for IGC-501, IGC-502 and IGC-504
13 February 2017 - 10:00PM
India Globalization Capital, Inc. (NYSE-MKT:IGC) announces today
that its Phytocannabinoid Development Committee has started its
review of international medical facilities as per its mandate to
commence preclinical trials in support of IGC’s patent
portfolio. The Committee has a particular focus on Israel,
among others, given the Country’s current cannabis research
policies and depth of qualified healthcare organizations.
During the preclinical phase, each compound will undergo
toxicity assessment and development of their pharmacological
profile. It is anticipated that these multi-week initiatives will
allow for the collection of important data related to safety,
iterative testing and feasibility.
IGC-501 is indicated for neuropathic pain. The pain market
represents a significant component of the healthcare system and The
Journal of Pain in September 2012 reported that the annual
estimated national cost of pain ranges from $560 billion to $635
billion. Additionally, The American Pain Society recommends that
pain be made more visible and be categorized as the fifth vital
sign.
IGC-502 is indicated for seizures. Approximately 50 million
people worldwide are affected by Epilepsy (Sanders, 2003). Epilepsy
is thought to be due to multiple factors that include Sodium,
Potassium, GABA (gamma amino butyric acid) and NMDA
(N-Methyl-d-aspartate). It is believed that to maximally control
Epilepsy, modulation of one or more of these receptors is required
and that mono therapy is adequate in up to 25% of patients.
IGC-504 is indicated for eating disorders. Cachexia is a
condition that accompanies severe illness such as cancer and
results in the weakness and wasting away of the body. In the U.S.
it is estimated that a population of approximately 1.3 million are
experiencing Cachexia associated with Cancer, Multiple Sclerosis,
Parkinson’s disease, HIV/AIDS and other progressive illnesses.
Cancer induced Anorexia Cachexia is responsible for about 20% of
all cancer deaths.
About IGC
In the United States, we develop phytocannabinoid-based
therapies. IGC has assembled a portfolio of patent filings that
encompasses the indications of Pain, Medical Refractory Epilepsy
and Cachexia using cannabinoids. We are based in Bethesda,
Maryland.
Our website: www.igcinc.us. Twitter @IGCIR
Facebook.com/IGCIR/
Forward-looking StatementsSome of the
statements contained in this press release that are not historical
facts constitute forward-looking statements under the federal
securities laws. Forward-looking statements can be identified by
the use of the words "may," "will," "should," "could," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts,"
"intends," "potential," "proposed" or the negative of those terms.
These statements are not a guarantee of future developments and are
subject to risks, uncertainties, and other factors, some of which
are beyond IGC's control and are difficult to predict.
Consequently, actual results may differ materially from information
contained in the forward-looking statements as a result of future
changes or developments in IGC's business and acquisition and
diversification strategy, competitive environment, infrastructure
demands, and governmental, regulatory, political, economic, legal
and social conditions in, among other places, China and India.
Except as required by federal securities laws, IGC undertakes no
obligation to publicly update any forward-looking statements,
whether as a result of new information or future events, or
otherwise. Other factors and risks that could cause or contribute
to actual results differing materially from such forward-looking
statements have been discussed in greater detail in IGC's Form 10-K
for fiscal year ended March 31, 2016, and in subsequent reports
filed with the U.S. Securities and Exchange Commission.
Contact Info:
Claudia Grimaldi
301-983-0998