India Globalization Capital (NYSE American: IGC) is reporting financial results for second quarter 2023, the period ending Sept. 30, 2022. Highlights of the report include the potential shown by IGC-AD1 and TGR-63, the company’s main investigational drug assets, to suppress or ameliorate a key protein in Alzheimer’s cell lines that are responsible for Aβ plaques, a key indicator of Alzheimer’s disease. The company noted that IGC-AD1 is entering phase 2 trials designed to study the treatment of agitation in dementia resulting Alzheimer’s disease and, in preclinical trials, TGR-63 showed potential to reduce neurotoxicity in Alzheimer’s cell lines. The report stated that IGC completed its phase 1 trial for IGC-AD1 and has already submitted a phase 2 protocol to the U.S. Food and Drug Administration (“FDA”) and Health Canada; the new trial will involve 146 patients with Alzheimer’s with half receiving a placebo. In addition, in September, the company received its second patent for the treatment of Alzheimer’s disease; IGC-AD1 is partially based on this research. The report also noted that sales of the company’s CBD-infused products and services grew an estimated 345% for the six-month-period ended Sept. 30, 2022, compared to the same period from the previous year. “We are very pleased with the developments we have made this quarter, especially as they pertain to our investigational drug candidate, IGC-AD1,” said India Globalization Capital CEO Ram Mukunda in the press release. “We believe that we possess a revolutionary drug formulation that could provide much-needed relief for patients suffering from Alzheimer’s disease. This drug is the first natural low-dose THC (tetrahydrocannabinol)-based drug formulation to enter FDA trials and has the potential to fill a very prevalent void in the broad and expanding market for the treatment of Alzheimer’s symptoms.”
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About India Globalization Capital Inc.
India Globalization Capital develops, patents and markets advanced THC-based drug formulations for the treatment of symptoms related to various diseases, including but not limited to Alzheimer’s disease, Parkinson’s disease, chronic pain and pet seizures. The company’s leading drug candidate, IGC-AD1, has demonstrated the potential to be effective in suppressing or ameliorating a key protein in Alzheimer’s cell lines responsible for Aβ plaques and has recently entered phase 2 clinical trials for agitation in dementia from Alzheimer’s. The company also has lines of various CBD-based consumer products such as Holief, which includes gummies and pain relief creams for women experiencing premenstrual syndrome (“PMS”) and dysmenorrhea (period cramps), and Sunday Seltzer, which includes a CBD-infused energy beverage — all currently available for purchase. The company also operates an Infrastructure business based in India. The company is headquartered in Maryland. For more information, visit the company’s website at www.IGCInc.us.
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