India Globalization Capital, Inc. IGC announced it will begin operating under the new name IGC Pharma, Inc., (dba IGC) effective March 30, 2023, as part of a rebranding strategy that better reflects IGC Pharma’s strategic focus and vision for the future.
The company’s common stock will continue to be quoted on the NYSE American under the same symbol IGC. Trading of its common stock under its new name will commence on March 31, 2023. The company’s CUSIP and EIN numbers will remain the same.
The name change to IGC Pharma, acknowledges the company’s identity as a developer of drug assets for treating diseases, including, but not limited to, Alzheimer’s disease. IGC believes it has the first natural, cannabis-based, patent-protected compound that relies on low doses of THC, a psychoactive cannabinoid, and another compound as pharmaceutically active agents (APIs) for the treatment of Alzheimer’s disease.
IGC is currently in a phase 2 trial with its THC-based investigational medication, IGC-AD1, for the treatment of agitation in Alzheimer’s. According to the company IGC-AD1 is the only natural, THC-based investigational drug candidate currently undergoing FDA trials on Alzheimer’s. The APIs in IGC Pharma’s leading drug asset, IGC-AD1, have shown in preclinical studies on Alzheimer’s cell lines the potential to be effective in ameliorating a key protein responsible for Aβ plaques, a key hallmark of Alzheimer’s. IGC also markets a wellness brand, Holief, that targets women experiencing premenstrual syndrome, menstrual cramps and sleep disorders.
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