India Globalization Capital (NYSE American: IGC) (dba IGC Inc.) will begin operating under the name IGC Pharma Inc. (dba IGC), effective March 30, 2023; the name change is one aspect of the company’s rebranding strategy designed to better reflect its strategic focus and vision for the future. IGC’s common stock will trade on NYSE American exchange under the new name on March 31, 2023; the symbol will remain the same: IGC. According to the announcement, the change in name to IGC Pharma better represents the company’s focus as a developer of drug assets for treating diseases, including but not limited to Alzheimer’s disease. IGC is currently developing what it believes is the first natural, cannabis-based, patent-protected compound that relies on low doses of THC and another compound as pharmaceutically active agents (“APIs”) for the treatment of Alzheimer’s disease. The investigational medication, IGC-AD1, is currently in a phase 2 trial. “Our business has gone through a transformation over the past several years, and changing our name to IGC Pharma Inc. (dba IGC) represents a major milestone by now clearly aligning our name with our strategic focus as a leading developer and provider of THC-based drug assets,” said IGC Pharma CEO Ram Mukunda in the press release. “We’re encouraged by the performance of our investigational drug candidate, IGC-AD1, in FDA trials on agitation in Alzheimer’s, and our consumer products continue to gain traction in the market. Given our progress, we felt it made sense to rebrand and rename our company to more accurately reflect our business focus, our research and development progress in the phase 2 clinical trial on Alzheimer’s and our strategic vision.”
To view the full press release, visit https://cnw.fm/K8pOJ
About IGC Pharma Inc.
IGC Pharma (dba IGC) develops advanced cannabinoid-based formulations for treating diseases and conditions, including but not limited to, Alzheimer’s disease, period cramps (“dysmenorrhea”), premenstrual syndrome (“PMS”) and chronic pain. IGC has two investigational drug assets targeting Alzheimer’s disease, IGC-AD1 and TGR-63, which have demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating key hallmarks of Alzheimer’s disease, such as plaques or tangles. IGC-AD1 is a low-dose tetrahydrocannabinol (“THC”)-based formulation that is currently in a 146-person phase 2 safety and efficacy clinical trial for agitation in dementia due to Alzheimer’s. IGC also markets a wellness brand, Holief(TM), that targets women experiencing premenstrual syndrome and menstrual cramps. IGC is headquartered in Maryland and has historically operated an infrastructure segment based in India. For more information, visit the company’s website at www.IGCInc.us.
NOTE TO INVESTORS: The latest news and updates relating to IGC are available in the company’s newsroom at https://cnw.fm/IGC
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