|India Globalization Capital, Inc. (NYSE: IGC) Enters MOU for Distribution in Germany, Plans to Commercialize Liquid Formulation of Hyalolex|
- IGC is scheduled to market a liquid formulation of its drug, IGC-AD1 (Hyalolex), in 2018; company is eyeing markets in Germany, Canada and U.S. states where licensed medical cannabis has been legalized
- IGC is exclusive licensee of a U.S. patent filing for possible THC-based Alzheimer’s disease (AD) therapy, which, if approved, could give it a huge advantage in competition for share of global drug market for AD
- Alzheimer’s Association: Some five million Americans have AD or some form of dementia, and $259 billion is being spent on treatments in 2017 — a number that could skyrocket to $1.1 trillion by 2050
India Globalization Capital, Inc. (NYSE American: IGC) sees opportunities in 2018, primarily from the distribution, in Germany, of its cannabinoid-based therapies, including IGC-AD1 (Hyalolex). It also sees the commercialization in 2018 of Hyalolex in a non-inebriating liquid supplement version. IGC has identified a number of U.S. states, as well as Canada and Germany, as target markets in the future.
The Maryland-based company is focused on the development of cannabis-based combination therapies to treat eating disorders, nausea, Alzheimer’s disease (AD), pain, and possibly Parkinson’s. It is also researching drugs that treat epilepsy in dogs and cats. The firm already has a portfolio of patent filings and four lead products that address these conditions.
IGC is the exclusive licensee of the U.S patent filing, “THC As A Potential Therapeutic Agent For Alzheimer’s Disease.” This gives IGC an advantage in the global market of AD drugs.
The global potential of AD treatment in massive. IGC sees worldwide application of its cannabinoid-based therapies (http://nnw.fm/JK2Bn). In the U.S. alone, the Alzheimer’s Association estimates that treatment of AD and other forms of dementia will cost about $259 billion in 2017 — and that number could rise to $1.1 trillion by 2050 (http://nnw.fm/tAfs5). The Association said some five million Americans have AD today, and that number could rise to 16 million by 2050.
Because AD begins well prior to the appearance of symptoms, a drug such as IGC-AD1, which has shown an ability to lower production/aggregation of Aβ plaque without neurotoxic effects or inebriation, could be taken as a prophylactic treatment to prevent AD.
IGC has entered into a Memorandum of Understanding (MOU) with Hamburg, Germany-based MediCann Handels GMBH for the distribution of IGC’s cannabinoid-based therapies, including IGC-AD1, to pharmacies, apothecaries and other licensed outlets that can legally sell cannabinoid-based products (http://nnw.fm/52Jyc). The MOU calls for MediCann to provide the capital required for the import, storage, transportation, sales and marketing of the products. In Germany, the number of dementia cases is 1.6 million-plus, most commonly caused by AD, per company data.
In a news release, Ram Mukunda, CEO of IGC, said the company would market, through medical dispensaries, a non-inebriating liquid supplement version of IGC-AD1 in 2018, with target markets spanning Germany, Canada and certain states within the U.S. Cumulatively, these markets have some 7.8 million patients with AD, the company said (http://nnw.fm/0UZzB).
For more information, visit the company’s website at www.IGCinc.us
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