Bethesda, MD. April 10, 2018 India Globalization Capital, Inc. (NYSE Amex: IGC) today announced that it has filed a method and composition patent with the U.S.P.T.O. for the formulation of Hyalolex (IGC-507), which helps address some symptoms of Alzheimer’s disease including the buildup of plaques and tangles, anxiety, aggression and sleep disorders among others.
This patent filing enables IGC to pursue the commercialization of this formulation in U.S. states where medical cannabis is legal, as well as in selected European countries. As previously announced, IGC will start its marketing activities in Puerto Rico with subsequent initiatives in ten key markets in the U.S.
In addition, the new patent filing allows the Company to disclose its specific method of manufacturing Hyalolex and specific active ingredients to appropriate health departments, processors, growers, doctors, caregivers, patients and dispensaries, which will be integral to the acceleration of IGC’smarketing efforts.
From the CEO's desk
According to CEO Ram Mukunda, the Company will also incorporate the formulation and active ingredients in its website and through its presentations. “As this evolves our Company will evidence its goal of becoming a market leader in specific areas where we will have a head-start, such as Alzheimer’s,” he said.
The Company is launching Hyalolex in Puerto Rico, as previously reported, in part because the Latinopopulation is especially susceptible to Alzheimer’s disease with a much higher likelihood ofcontracting the disease. In total, there are over 5.5 million adults with Alzheimer’s in the U.S and over44 million worldwide. After launching marketing initiatives for Hyalolex in Puerto Rico, IGC will commence marketing and licensing arrangements in states including Maryland, Washington, D.C and California.
By the end of the year, Mukunda says he expects IGC to have its Alzheimer’s product in 10 U.S. states. “In the process, we will build a distribution and brand presence that we can leverage for our other products and bring relief to those afflicted with this difficult diagnosis,” he said.
India Globalization Capital, Inc. (”IGC”) has developed a patent-pending cannabis-based combination therapy to treat endpoints of Alzheimer’s including plaques, tangles, anxiety, agitation and other NPS, which it plans to market through Canadian and U.S. medical dispensaries in early 2018. Its pipeline includes cannabis-based medications for end points of Parkinson’s, pain, nausea, eating disorders and epilepsy in cats and dogs. The company is also working on leveraging its expertise to develop blockchain technology based solutions for the cannabis market. IGC has a legacy business based in India, through which it is engaged in infrastructure and commodity trading, and in Malaysia it is engaged in real-estate management. IGC’s registered US office is located in Bethesda, Maryland. The company maintains an R&D center in Washington State and also has a back office in Kochi, Kerala India.
IGC announces intention to develop blockchain solution for cannabis market
On December 26, 2017, IGC announced that it plans to utilize blockchain technology to address industry issues specific to the medical cannabis industry. The company cited areas including product identification assurance (PIA), inadequate product labeling, transactional difficulties, and product origin assurance as areas that it was seeking to address. Clearly, blockchain technology, which uses a continuously growing list of records, called blocks, which are linked and secured using cryptography to manage large databases securely, is an area of high attention given its robust growth and crucial role in cryptocurrencies. We believe the company intends to develop a platform first for Hyaolex’s go-to-market strategy in the dispensary market, with an aim to leverage the platform for the highly regulated and rapidly evolving cannabis industry.
Alzheimer’s Disease (AD) is a form of dementia. It is known as America’s most expensive disease, with an estimated cost to the U.S. economy of $236 billion. AD currently affects more than 5.3 million Americans and over 65% of AD patients are women. Over the next 20 years, the number of those afflicted with the disease is expected to double. The forecast is staggering, considering that to date, no effective cure has been found.
Know more about India Globalization Capital Inc.
The Company has two lines of businesses, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for treating Alzheimer’s patients. The company is based in Maryland, USA.