India Globalization Capital, Inc. (NYSE MKT: IGC), a developer of cannabis-based therapies to treat a variety of life-altering conditions, this morning announced that it has filed patent applications for IGC-501 in Canada, Israel and Europe in support of its ongoing cannabis-based combination therapy development initiatives. “We continue to strengthen our IP position in cannabis-based combination therapies and have progressed to include global patent filings,” Ram Mukunda, CEO of IGC, stated in the news release. “IGC is committed to addressing high potential international markets as a first mover in this emerging segment of cannabis-based combination therapy pharmaceuticals.” IGC-501 is being developed to treat neuropathic pain, which represents a sizable and growing market. In September 2012, the Journal of Pain reported that the estimated national cost of pain ranges from $560 billion to $635 billion annually, with costs associated with the abuse of prescription opioids clocking in at roughly $25 billion.
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India Globalization Capital, Inc. (NYSE: IGC) Submits International Patent Applications for IGC-501
