NEW YORK, NY / ACCESSWIRE / January 8, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on India Globalization Capital, Inc. (NYSE American: IGC) and updated its price target to $2.00.
The report is available here: IGC Update Note.
India Globalization Capital, Inc. (''IGC'') has developed a patent-pending cannabis-based combination therapy to treat end points of Alzheimer's including plaques, tangles, anxiety, agitation and other NPS, which it plans to market through Canadian and U.S. medical dispensaries in early 2018. Its pipeline includes cannabis-based medications for end points of Parkinson's, pain, nausea, eating disorders and epilepsy in cats and dogs. The company is also working on leveraging its expertise to develop blockchain technology based solutions for the cannabis market. IGC has a legacy business based in India, through which it is engaged in infrastructure and commodity trading, and in Malaysia it is engaged in real-estate management. IGC's registered US office is located in Bethesda, Maryland. The company maintains an R&D center in Washington State and also has a back office in Kochi, Kerala India.
IGC set to begin commercialization of liquid supplement as company prepares for Phase 2 trial for Alzheimer's disease
On December 14, 2017, IGC provided an update to its strategy for commercializing its lead product, Hyalolex for Alzheimer's disease. The company is pursuing a two-pronged strategy, which will include: 1) the sale of the liquid supplement formulation through licensed medical cannabis dispensaries, and 2) a traditional FDA pathway for a drug formulation. As part of the announcement, IGC noted that it expects to begin initial distribution of Hyalolex to licensed medical cannabis dispensaries in Maryland, Washington DC, and California during calendar 1Q18. IGC also noted that it has retained The Medical Marketing Group, Inc., a provider of outsourced product-detailing, education and outreach services to assist with its national dispensary expansion plans.
IGC CEO Ram Mukunda also noted that the company is preparing to move forward with a Phase 2b clinical trial for a pharmaceutical grade formulation of Hyalolex for Alzheimer's disease. IGC is in the process of gathering data to support the application for this trial, as evidenced by its January 2, 2018 press release noting promising in vivo data compiled from transgenic mice, which showed an improvement in spatial memory results when treated with IGC-AD1. Pending funding, the company expects to be in a position to initiate the trial in the second half of 2018. We note that Alzheimer's disease represents a large potential market for IGC. There are over 5.5mn people living in the US with Alzheimer's, and the disease has an estimated annual economic cost of $236 billion.
IGC announces intention to develop blockchain solution for cannabis market
On December 26, 2017, IGC announced that it plans to utilize blockchain technology to address industry issues specific to the medical cannabis industry. The company cited areas including product identification assurance (PIA), inadequate product labeling, transactional difficulties, and product origin assurance as areas that it was seeking to address. Clearly, blockchain technology, which uses a continuously growing list of records, called blocks, which are linked and secured using cryptography to manage large databases securely, is an area of high attention given its robust growth and crucial role in cryptocurrencies. We believe the company intends to develop a platform first for Hyaolex's go-to-market strategy in the dispensary market, with an aim to leverage the platform for the highly regulated and rapidly evolving cannabis industry.
Updating price target to $2.00
We are increasing the price target for IGC to $2.00 to reflect recent developments in the company's cannabis business as IGC prepares to launch Hyalolex. We are also intrigued by the potential application of blockchain technology to the cannabis industry, and anticipate learning more from the company in future periods about this initiative.
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About India Globalization Capital, Inc.
IGC has two lines of business, a legacy infrastructure and commodity trading business and a cannabis pharmaceutical business that has developed a lead product for treating Alzheimer's patients. The company 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). The company is based in Maryland, USA. More information about IGC is available at www.igcinc.us and www.igcpharma.com.
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SOURCE: India Globalization Capital, Inc.