Bethesda, Sept. 21, 2015 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (IGC) announces that the company applied for a provisional patent based on a novel therapy that uses cannabinoid extracts from the cannabis plant for the treatment of cachexia.
Cachexia is a condition that accompanies severe illness such as cancer and results in the weakness and wasting away of the body. In the U.S. it is estimated that a population of approximately 1.3 million are experiencing cachexia associated with cancer, multiple sclerosis, Parkinson's disease, HIV/AIDS and other progressive illnesses. Cancer induced anorexia cachexia is responsible for about 20% of all cancer deaths.
"We believe our therapy, subject to controlled testing, could offer an alternative to a common and difficult condition that accompanies those suffering from severe illness. This patent filing for cachexia is an additional component of our core strategy that is intended to build a product portfolio of cannabinoid-based therapies for the treatment of a wide range of therapeutic indications including pain, epilepsy, and other niche severe terminal diagnosis, which are either life altering or life threatening. We believe we are developing a sustainable and differentiated segment in the cannabinoid-based bio-pharmaceutical sector and continue to further our specialty IP assets," said Ram Mukunda, IGC's CEO.
IGC is engages in identifying, developing or acquiring and commercializing cannabinoid based biopharmaceutical therapies that address end of life supportive care, hospice care, chronic neurological and oncological diagnosis. The company also supplies components for OEMs involved in health care and the Internet-of-Things. India Globalization Capital Inc. ("IGC") is based in Bethesda, Maryland.
Our website: www.igcinc.us. Twitter @IGCIR
Some of the statements contained in this press release that are not historical facts constitute forward- looking statements under the federal securities laws. Forward-looking statements can be identified by the use of the words "may," "will," "should," "could," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "potential," "proposed," or the negative of those terms. The term "crowd funding" or "crowdfunding" is not a recognized regulatory term and is meant as a reference to offerings of investment securities under the JOBS Act of 2012 for regulations both currently adopted and to be adopted in the future by the Securities & Exchange Commission and FINRA as a result of that legislation. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond IGC's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, our acquisition and diversification strategy, our competitive environment, infrastructure demands, iron ore availability and governmental, regulatory, political, economic, legal and social conditions in, among other places, China and India. Except as required by federal securities laws, IGC undertakes no obligation to publicly update any forward- looking statements, whether as a result of new information, future events, or otherwise. Other factors and risks that could cause or contribute to actual results differing materially from such forward- looking statements have been discussed in greater detail in IGC's Form 10- K for fiscal year ended March 31, 2014, and in subsequent reports filed with the U.S. SEC.
CONTACT: Contact: Broker Relations Ryan Congo V.P. - Corporate PM Acorn Management Partners LLC. RCongo@AcornManagementPartners.com 678-736-5673 Contact: Shareholder Relations Chris Lowe Dir. Shareholder Relations/COO Shareholders@AcornManagementPartners.com
Source:India Globalization Capital