Bethesda, MD, June 10, 2015 (GLOBE NEWSWIRE) -- IGC, Inc. (NYSE-MKT: IGC) announces the third vertical in its effort to gain a leading position in the emerging legal cannabis industry. Our strategy is to develop a product portfolio of phytocannabinoid-based therapies for the treatment of a wide range of therapeutic indications including pain, epilepsy, and other niche severe terminal diagnosis, which are life altering or life threatening.
Most recently, the company applied for a provisional patent based on a novel therapy that uses cannabinoid extracts for the treatment of seizures in dogs and cats. The therapy, which is expected to also have applications in humans, is administered using a variety of delivery technologies. We expect to establish metabolic profiling and apply to the FDA for trials.
To facilitate the development of the product portfolio, IGC is entering into partnerships with a range of organizations that can provide cost effective solutions for metabolic profiling, clinical trials, and regulatory approvals that in most cases will be necessary to eventually commercialize our products.
"The Company is also continuing to assemble an international network of doctors, veterinarians, and researchers with extensive expertise in various indications, medicines containing controlled substances, plant-based products, extraction technologies, and drug delivery technologies. In addition, we have assembled experts in patent law, clinical trials, and regulatory procedures," said Ram Mukunda, IGC's CEO.
Mukunda added, "Among our senior advisors is Dr. Ranga Krishna who founded International Pharma Trials ("IPT"), a company with over 150 employees that assists a number of U.S. pharmaceutical companies in performing clinical trials. IPT has a specialty in pain and epilepsy. Dr. Krishna himself is a neurologist with a sub-specialty in epilepsy surgery."
"Jack Lynch who has over 50 years of experience in practice before US District and Appellate courts and the US Patent and Trademark Office is another of our key senior advisors leading our intellectual property filing strategy and was instrumental in this filing as well as other filings, which we will be disclosing," Mukunda continued.
To help our shareholders and potential investors better understand our direction, we have deployed a new website at www.igcinc.usthat explains both our current electronics business and our expansion into the phytocannabinoid business as well as our strategy and the synergies between these businesses. The website also provides background on phytocannabinoids and why they hold hope for various ailments. We have also restarted our presence on social media: twitter (@IGCIR)," said Mukunda.
Our launch of the pharmaceutical unit is part of IGC's previously articulated efforts to drive shareholder value by building three segments within the legal cannabis sector: a) facilities and technologies, b) legal cannabis research and investment banking, and c) pharmaceuticals based on phytocannabinoids.
About IGC
Based in Bethesda, Maryland, IGC, Inc. is taking defensible, high growth, high margin positions in two of the world's fastest growing industries electronics and cannabis. Our involvement in the electronics and cannabis industries creates unique synergies and advantages that we believe will be highly profitable in the short and long term. Our website: www.igcinc.us. Follow us on twitter (@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. The term "crowd funding" or "crowdfunding" is not a recognized regulatory term and is meant as a reference to offerings of investment securities under the JOBS Act of 2012 for regulations both currently adopted and to be adopted in the future by the Securities & Exchange Commission and FINRA as a result of that legislation. 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 our business, our acquisition and diversification strategy, our competitive environment, infrastructure demands, iron ore availability 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, 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, 2014, and in subsequent reports filed with the U.S. SEC.