India Globalization Capital IGC Stock News

India Globalization Capital, Inc. (NYSEAMERICAN: IGC) is soaring early on in the trading session this morning, trading on gains of more than 20% in the premarket. The gains come after the company announced that it has received approval to move forward with a clinical study. Here’s what’s happening:

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IGC Announces Clinical Study Approval

India Globalization Capital issued a press release this morning, announcing that the Institutional Review Board (IRB), has approved its protocol for a new study. The study is a double-blind, placebo-controlled, efficacy, safety and tolerability study of IGC-AD1.

IGC has been in the process of developing IGC-AD1 for some time. The drug is being developed as a potential option for behavior and functionality in patients with dementia from Alzheimer’s disease.

In fact, the company’s involvement in the drug started in 2017, when it acquired a patent filing from the University of South Florida. The patent filing showed that micro-doses of cannabis in combination with other natural compounds are beneficial to Alzheimer’s patients.

The study, conducted in mice showed that the treatment was beneficial to Alzheimer’s cell lines and to memory in transgenic mice.

The company’s product, known as Hyalolex, is modeled after IGC-AD1 and currently available in more than 40 dispensaries in Puerto Rico. The research showing benefit in Alzheimer’s patients is the foundation for this availability.

In a statement, Ram Mukunda, CEO at IGC, had the following to offer:

With this important approval, our Company can implement a 50-person double-blind placebo-controlled trial that we hope begins to prove the efficacy of micro-doses of cannabis in combination with other natural compounds on the behavior of patients suffering from Alzheimer’s. We expect to measure improvements in neuropsychiatric symptoms (“NPI”) such as delusions, agitation/aggression, dysphoria, anxiety, sleep disorder, disinhibition, irritability, apathy and eating abnormalities, among others.

Why This News Is So Exciting

Truth be told, there are a couple of exciting factors here. With the IRB approval, the next step is for India Globalization Capital to file an INDA with the FDA, looking for regulatory approval of the trial, followed by moving the trial into initiation.

However, the news goes further than that. For some time now, the benefits of cannabis as a medicine have been hotly debated. However, these benefits have been seen by a large number of patients, leading to pharmaceutical companies scrambling to come up with the next big cannabis-derived drug.

We saw, with GWPH and Epidiolex, just what a cannabis drug can offer as far as value. Moreover, with the science behind cannabis and medicine being so young, the competition is little-to-none on just about every indication out ther.

Should IGC successfully move this drug through trials and get it approved, it will be only the second company to have done so with a cannabis derived drug. Moreover, it will have a strong option for Alzheimer’s patients who are met with few to none.

All in all, the market opportunity here is hard to ignore!

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