India Globalization Capital, Inc. (NYSE MKT: IGC), a developer of cannabis-based therapies to treat a variety of life-altering conditions, this morning announced its entry into a definitive license agreement with the University of South Florida that makes the company the exclusive licensee of the U.S. patent filing entitled ‘THC as a Potential Therapeutic Agent for Alzheimer’s Disease’. If the patent filing is granted and proven, IGC anticipates that it could create a “significant therapeutic pathway” in the Alzheimer’s disease market, which is expected to record direct costs in excess of $450 billion annually in the next 12 years. “Securing this licensing agreement from the University of South Florida represents a major turning point for IGC as we now look to prepare several of our key products for clinical trials,” Ram Mukunda, CEO of IGC, stated in the news release. “We have worked hard to assemble a strong development team and a primary pipeline of four major products addressing large markets and possible blockbuster indications utilizing cannabis-based therapies. We are putting the finishing touches on our products, which may include filing additional patents, and we very much expect to start pursuing clinical trials for our Alzheimer’s product and others this year.”
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About IGC
India Globalization Capital is engaged in the development of cannabis-based therapies to treat pain, PTSD, seizures, cachexia, chronic and terminal neurological and oncological diagnoses, and other life altering conditions. In support of this mission, IGC has assembled a portfolio of patent filings for its phytocannabinoid-based treatments. The company is based in Bethesda, Maryland. For more information visit www.igcinc.us
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