POTOMAC, Maryland – July 07, 2026 – IGC Pharma, Inc. (NYSE American: IGC) (“IGC” or the “Company”), a clinical-stage biotechnology company developing therapeutics for Alzheimer’s disease, today announced that Chief Executive Officer Ram Mukunda and Principal Financial Officer Claudia Grimaldi have purchased an aggregate of 4,274,853 shares of IGC common stock directly from the Company at $0.27 per share.
The shares were purchased through the cancellation of approximately $1.15 million of outstanding amounts owed by the Company to Mr. Mukunda and Ms. Grimaldi, including more than $552,362 of personal cash previously advanced to IGC and additional amounts deferred over multiple years. The $0.27 purchase price equaled the closing price of IGC common stock on the NYSE American on June 29, 2026, the trading day immediately preceding the transaction. Mr. Mukunda purchased 2,226,475 shares of common stock through the cancellation of $601,148 owed to him by the Company, including $283,639 of personal cash previously advanced to IGC. Ms. Grimaldi purchased 2,048,378 shares of common stock through the cancellation of $553,062 owed to her by the Company, including $268,723 of personal cash previously advanced to IGC.
“This is an insider purchase in the most direct form: common stock, no discount, no special rights,” said Ram Mukunda, Chief Executive Officer of IGC Pharma. “Claudia and I had personal capital and other deferred amounts tied up in IGC over multiple years. We chose to turn that commitment into restricted common shares at the prior day’s closing price because we believe deeply in the Company’s Alzheimer’s therapeutic program, our AI-enabled healthcare technology platform, and the long-term opportunity ahead. We did not receive preferred stock, warrants, liquidation preference, or special voting rights. We bought common stock because that is where we want our interests aligned, with our shareholders.”
The transactions did not involve any cash payment by the Company and reduced outstanding obligations by approximately $1.15 million while increasing management’s direct common equity ownership.
The shares were issued in a private placement exempt from registration under Section 4(a)(2) of the Securities Act of 1933 and are restricted securities. The transactions were approved in advance by the independent directors and the Audit Committee, with the interested officers recused, including for purposes of Rule 16b-3 under the Securities Exchange Act of 1934.
About IGC Pharma
IGC Pharma, Inc. (NYSE American: IGC) is a clinical-stage biotechnology company developing therapeutics for Alzheimer’s disease and other indications. The Company’s lead asset, IGC-AD1, is being evaluated in the Phase 2 CALMA clinical trial for agitation associated with Alzheimer’s dementia. The Company is also developing AI-enabled tools intended to support biomedical discovery, data harmonization, and clinical development.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the development, capabilities, performance, testing results, demonstration, deployment, potential utility, commercialization, and future applications of AHA; expansion into additional data modalities, including imaging and omics; planned activities at AAIC 2026 and any relationship with the Alzheimer’s Disease Data Initiative or AD Workbench ecosystem; potential collaborations, licensing, partnerships, and disease-specific deployment opportunities; and the Company’s clinical development programs, including IGC-AD1 and the CALMA trial. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including risks related to software development, internal and external testing results and their reproducibility, validation, third-party and ecosystem adoption, data access and rights, intellectual property protection, regulatory considerations, commercialization, clinical trial timelines and outcomes, financing needs, and other factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-KT. The Company undertakes no obligation to update these statements except as required by law.
Contact Information
Andres Sanchez
Investor Relations
info@igcpharma.com
+1 301-983-0998 / +1 (202) 569-2566
