June 23, 2015 (GLOBE NEWSWIRE) - IGC, Inc. (NYSE-MKT: IGC) announces that the company applied for a provisional patent based on a novel therapy that uses extracts from the cannabis plant for the treatment of multiple seizure disorders and medical refractory epilepsy. The therapy, which is expected to also have applications in veterinarian use, is administered using a variety of delivery technologies. We expect to establish metabolic profiling and apply to the FDA for trials.
As reported in scientific literature, approximately 50 million people worldwide are affected by Epilepsy. The onset of Epilepsy can be life threatening with long-term implications including mental health problems, cognitive deficits and morphological changes. In addition, Epilepsy also greatly affects life style, as sufferers live in fear of consequential injury or the inability to perform daily tasks. The scientific community has shown that phytocannabinoid extracts from the cannabis plant including Cannabidiol (CBD), Tetrahydrocannabinol (THC), and others have anti-convulsive properties in humans. GW Pharmaceuticals (GWPH) has already commenced clinical trials to test Epidiolex, comprising mostly of CBD.
IGC remains focused on establishing its third vertical as it moves forward in gaining a leading position in the emerging legal cannabis industry. Our strategy is to build long term value by developing 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.
"We are excited with the progress made in building sustainable and differentiated value. The Company continues 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, patent law and drug delivery technologies," said Ram Mukunda, IGC's CEO.
"We continue to further the IGC brand in our other verticals. On June 16, 2015, IGC and Midtown Partners successfully held the first investor conference sponsored by a broker dealer on the cannabis industry. 14 companies with a combined market capitalization of over $500 million presented at the event and a panel of experts spoke on the current and future state of the cannabis industry. The conference was well received as these companies and investors were brought together in a highly interactive environment," concluded Mukunda.
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.