India Globalization Capital, Inc. (NYSE MKT: IGC) has set a long-term goal for itself in the U.S. of becoming a leading provider of cannabis-based pharmaceutical and nutraceutical products. This is a transition away from its earlier short-term strategy, including the sale of electronics and development of a hotel site in Malaysia. To this end, the company has jettisoned its electronics business. IGC is now fully focused on building a portfolio of patents and starting clinical and pre-clinical trials for a series of pain-reducing and other cannabis-based therapies. These therapies are designed to treat neuropathic pain, seizures, Parkinson’s, anorexia/cachexia, Alzheimer’s, and PTSD.
Ram Mukunda, CEO of the company, indicated that IGC’s 2017 goals are focused on its progression toward commencement of clinical trials for these combination therapies. The Journal of Pain, in September 2012, reported that between $560 billion and $635 billion is spent annually in the U.S. for pain management, making it a significant part of the American health care system. In response, IGC has developed a series of drugs for pain and other disorders, including IGC-501 for neuropathic pain, IGC-502 for the treatment of seizures, and IGC-504 and IGC-506 for eating disorders and cachexia.
The company recently filed for issuance of a provisional patent for IGC-506, a combination of cannabis-based extracts and other compounds. It should be noted that a provisional patent does not assure the issuance of a patent in the future.
Mukunda explained that IGC is starting a review of international medical sites as the company seeks preclinical and clinical trials of its patent portfolio. He described the marketplace that IGC is entering as large, indicating that trials, patents and seeking approval from the U.S. Food & Drug Administration is seen as cost-effective.
For more information, visit the company’s website at www.IGCinc.us
About HempWire
HempWire (HW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, HW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. HW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, HW brings its clients unparalleled visibility, recognition and brand awareness. HW is where news, content and information converge.
Please see full disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/disclaimer/
HempWire (HW)
Denver, CO
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net
A recent report by the U.S. Department of Agriculture points to the hemp industry becoming…
The Home Office recently made changes to its licensing framework for the industrial hemp industry.…
Lexaria, a global innovator in drug delivery platforms, has received approval for its GLP-1 human…
Local prosecutors in Kansas working in collaboration with one lobbyist and law enforcement are discussing…
The cultivation and manufacture of hemp has burgeoned since the crop was legalized under the…
Lexaria, a global innovator in drug delivery platforms, has added three new patents to its…