India Globalization Capital, Inc. (IGC) has filed patent applications for IGC-501 in Canada, Israel, and Europe in support of its global cannabis-based combination therapy development initiatives.
IGC-501 is indicated for neuropathic pain. The pain market represents a significant component of the healthcare system and The Journal of Pain in September 2012 reported that the annual estimated national cost of pain ranges from $560 billion to $635 billion. In addition, abuse of prescription opioids is estimated to cost about $25 billion.
The international landscape embraces advancements in medical cannabis with countries like Germany, Israel and Canada being in the forefront. We aspire to bring our cannabis-based compounds to these markets and position ourselves for sustained growth. Canada’s recent introduction of legislation to legalize cannabis and Germany’s initiatives on medical cannabis are particularly encouraging on a global perspective. It should be noted that filing a patent does not guarantee that a patent will be issued in the future.
“We continue to strengthen our IP position in cannabis-based combination therapies and have progressed to include global patent filings. IGC is committed to addressing high potential international markets as a first mover in this emerging segment of cannabis-based combination therapy pharmaceuticals,” concludes Ram Mukunda, CEO.
India Globalization Capital is engaged in the development of cannabis-based therapies to treat pain, PTSD, seizures, cachexia, chronic and terminal neurological and oncological diagnoses, and other life altering conditions.