BETHESDA, Md., Feb. 13, 2017 (GLOBE NEWSWIRE) -- 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 Statements
Some 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.