BETHESDA, Md., March 21, 2017 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (NYSE-MKT:IGC) today announces its provisional patent filing (IGC-506) for the treatment of multiple types of eating disorders by a method and combination of cannabis extracts and other compounds. IGC-506 is being developed for both human and veterinary use, should this filing progress to the issuance of a patent.
"The development of cannabis-based combination therapies represents a large, unique opportunity, and we believe we are the first mover in this emerging specialty-pharmaceutical sector. Over the past three years, we have built a strong IP portfolio and now propose to obtain funding to commence pre-clinical and clinical trials as appropriate. Securing FDA approval for combination therapies is generally much faster and less expensive than the process for new drug applications. As a result, we believe that we can bring our cannabis-based pharmaceutical products to market in both an expeditious and cost-effective manner," states Ram Mukunda, Chief Executive Officer of IGC.
As previously reported (http://nnw.fm/e6A76), IGC has started a review of international medical facilities to commence preclinical and clinical trials in support of the Company's patent portfolio, which includes IGC-501 for neuropathic pain; IGC-502 for the treatment of seizures; and IGC-504 for eating disorders, including cachexia.
It should be noted that filing a provisional patent does not guarantee the issuance of a patent in the future.
Patent Portfolio & Market Application
IGC-501 - indicated for neuropathic pain. The pain market represents a significant component of the U.S. health care system, costing between $560 billion-$635 billion per year, according to the most recent data from the Journal of Pain (2012).
IGC-502 - indicated for seizures. Approximately 50 million people worldwide are affected by epilepsy (Sanders, 2003), a condition attributed to multiple factors.
IGC-504 and IGC-506 - indicated for eating disorders, including cachexia, a condition that accompanies severe illness such as cancer and results in the weakness and wasting away of the body. Approximately 1.3 million people in the United States are experiencing cachexia associated with cancer, multiple sclerosis, Parkinson's disease, HIV/AIDS, and other progressive illnesses. Notably, cancer-induced anorexia/cachexia is responsible for about 20% of all cancer deaths.
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.
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Source: India Globalization Capital