India Globalization Capital Files Patent for Hyalolex Formulation
April 10 2018 - 7:00AM
Business Wire
Prepares for Accelerated National Product
Launch
India Globalization Capital, Inc. (NYSE Amex:IGC) today
announced that it has filed a method and composition patent with
the U.S.P.T.O. for the formulation of Hyalolex (IGC-507), which
helps address some symptoms of Alzheimer’s disease including the
buildup of plaques and tangles, anxiety, aggression and sleep
disorders among others.
This patent filing enables IGC to pursue the commercialization
of this formulation in U.S. states where medical cannabis is legal,
as well as in selected European countries. As previously announced,
IGC will start its marketing activities in Puerto Rico with
subsequent initiatives in ten key markets in the U.S.
In addition, the new patent filing allows the Company to
disclose its specific method of manufacturing Hyalolex and specific
active ingredients to appropriate health departments, processors,
growers, doctors, caregivers, patients and dispensaries, which will
be integral to the acceleration of IGC’s marketing efforts.
According to CEO Ram Mukunda, the Company will also incorporate the
formulation and active ingredients in its website and through its
presentations. “As this evolves our Company will evidence its goal
of becoming a market leader in specific areas where we will have a
head-start, such as Alzheimer’s,” he said.
The Company is launching Hyalolex in Puerto Rico, as previously
reported, in part because the Latino population is especially
susceptible to Alzheimer’s disease with a much higher likelihood of
contracting the disease. In total, there are over 5.5 million
adults with Alzheimer’s in the U.S. and over 44 million worldwide.
After launching marketing initiatives for Hyalolex in Puerto Rico,
IGC will commence marketing and licensing arrangements in states
including Maryland, Washington, D.C. and California.
By the end of the year, Mukunda says he expects IGC to have its
Alzheimer’s product in 10 U.S. states. “In the process, we will
build a distribution and brand presence that we can leverage for
our other products and bring relief to those afflicted with this
difficult diagnosis,” he said.
About IGC
IGC has two lines of business, (i) a legacy commodity trading,
and infrastructure business, and (ii) a cannabis based
complimentary medicines business that has developed a lead product
for treating Alzheimer’s patients. IGC recently announced that it
is working on using blockchain to address issues specific to the
cannabis industry including transactional difficulties, product
labeling, product identification assurance (PIA), and product
origin assurance (POA). IGC is based in Maryland, USA.For more
information please visit www.igcinc.usFollow us on Twitter @IGCIR
and Facebook.com/IGCIR/
Forward-looking Statements
Please see forward looking statements as discussed in detail in
IGC's Form 10K for fiscal year ended March 31, 2017, and in other
reports filed with the U.S. Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20180410005620/en/
For IGC:Claudia Grimaldi, 301-983-0998