BETHESDA, Md., April 10, 2017 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (NYSE MKT:IGC) announces today that it 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.  

About IGC

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.  In support of this mission, IGC has assembled a portfolio of patent filings for its phytocannabinoid-based treatments. The company is based in Bethesda, Maryland.

For more information visit www.igcinc.us

Follow us on Twitter @IGCIR and Facebook.com/IGCIR/

Forward-looking Statements

Please see risk factors discussed in India Globalization Capital, Inc.'s Form 10-K for fiscal year ended March 31, 2016, and in subsequent reports filed with the U.S. Securities and Exchange Commission.

Contact Info:Claudia Grimaldi301-983-0998

Primary Logo

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX