India Globalization Capital (NYSE American: IGC) today announced its receipt of a no objection letter from Health Canada for approval of its “Phase 2, Multi-Center, Double-Blind, Randomized, Placebo-Controlled Trial of the Safety and Efficacy of IGC-AD1 on Agitation in Participants with Dementia due to Alzheimer’s Disease.” The letter provides the acknowledgement of IGC-AD1’s drug candidacy and the authority to proceed with phase 2 trials in Canada. “We are pleased to have received this no objection letter from Health Canada, which allows us to begin phase 2 trials on our drug formulation IGC-AD1 at sites throughout Canada,” said Ram Mukunda, CEO of IGC. “We already have one testing site signed up in Canada, bringing our total number of sites to three, and we are currently in negotiations for several more sites in Florida, Maryland and Montreal. This will also allow us to recruit a diverse population that reflects the demographics of the disease. Receiving this approval is a milestone in our progress towards gaining FDA approval and increases the number of patients with Alzheimer’s that we can enroll. We now have access to several additional locations, including the USA, for our team to safely and efficiently test the efficacy of IGC-AD1 for the treatment of agitation in dementia due to Alzheimer’s disease.”
To view the full press release, visit https://ibn.fm/eT3IY
About India Globalization Capital Inc.
India Globalization Capital develops advanced cannabinoid-based formulations for treating diseases, including but not limited to Alzheimer’s, Parkinson’s, chronic pain and pet seizures. The company’s leading drug candidate, IGC-AD1, has demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating a key protein 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, headquartered in Maryland, USA, also operates an infrastructure business based in India.
NOTE TO INVESTORS: The latest news and updates relating to IGC are available in the company’s newsroom at https://ibn.fm/IGC
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