IGC Pharma Granted European Patent for Groundbreaking Cannabinoid-Based Pain Topical Relief Therapy
19 Ottobre 2023 - 9:30PM
Business Wire
IGC Pharma, Inc. (“IGC,” “IGC Pharma” or the “Company”) (NYSE
American: IGC), a visionary clinical-stage pharmaceutical company,
is thrilled to announce a significant milestone: the grant of
European Patent No. 3193862 by the European Patent Office (“EPO”)
for our innovative "Cannabinoid Composition and Method for Treating
Pain."
Revolutionizing Pain Relief: Pain is an omnipresent issue
affecting millions worldwide. Patients suffering from conditions
like arthritis and post-operational chronic pain deserve more than
conventional solutions. IGC Pharma is at the forefront of
innovation, dedicated to enhancing the quality of life and
well-being of those in pain. In America alone, over 56 million
individuals grapple with debilitating arthritis, while 10-30% of
total joint arthroplasty patients endure persistent pain (George et
al., 2022). Furthermore, health economists estimated the annual
cost of pain management in the U.S. to range from $560 billion to
$635 billion back in 2012 (Journal of Pain).
A Breakthrough Approach: IGC Pharma’s newly granted
patent introduces a pioneering method for treating pain in humans.
Utilizing a cream base infused with a unique blend of cannabinoids,
including tetrahydrocannabinol (THC) and cannabidiol (CBD),
alongside other compounds, this revolutionary cream or gel is
designed for transdermal absorption. It interacts harmoniously with
the peripheral nervous and immune systems, delivering effective
pain relief without psychotropic or adverse side effects.
Meeting Market Demand: Recent consumer trends indicate a
profound demand for safe and effective pain relief. A Forbes Health
survey from September 2023, revealed that over 60% of consumers
aged 26-76 years explore CBD as a means of pain alleviation. This
underscores the immense opportunity and market potential for our
innovative solutions.
Ram Mukunda, CEO of IGC Pharma, commented, “IGC Pharma is
committed to advancing pain relief therapies rooted in decades of
rigorous scientific research. We aspire to redefine the standard
for pain management, providing healthier alternatives to
traditional medications. Our portfolio now boasts an impressive 35
patent filings in various countries, including the U.S. and Canada.
We are proud to have achieved this milestone as we work to expand
our roster of pain management formulations, and we will continue to
innovate and develop new solutions to address this issue. I believe
that our innovative approach to pain relief has the potential to
disrupt the industry, providing investors with a unique chance to
be part of a transformative journey. With a substantial addressable
market and a strong intellectual property portfolio, we are
well-positioned for growth.”
About IGC:
IGC Pharma, Inc. (dba IGC) develops advanced cannabinoid-based
formulations for treating diseases and conditions, including, but
not limited to, Alzheimer’s disease, period cramps
(“dysmenorrhea”), premenstrual syndrome (“PMS”), and chronic pain.
IGC has two investigational drug assets targeting Alzheimer’s
disease, IGC-AD1, and TGR-63, which have demonstrated in
Alzheimer’s cell lines the potential to be effective in suppressing
or ameliorating key hallmarks of Alzheimer’s disease, such as
plaques or tangles. IGC-AD1 is a low-dose tetrahydrocannabinol
(“THC”) based formulation that is currently in a 146-person Phase 2
clinical trial for agitation in dementia due to Alzheimer’s
(clinicaltrials.gov, NCT05543681).
Forward-Looking Statements:
This press release contains forward-looking statements. These
forward-looking statements are based largely on IGC’s expectations
and are subject to several risks and uncertainties, certain of
which are beyond IGC’s control. Actual results could differ
materially from these forward-looking statements as a result of,
among other factors, the Company’s failure or inability to
commercialize one or more of the Company’s products or
technologies, including the products or formulations described in
this release, or failure to obtain regulatory approval for the
products or formulations, where required; general economic
conditions that are less favorable than expected, including as a
result of the ongoing COVID-19 pandemic; the FDA’s general position
regarding cannabis- and hemp-based products; and other factors,
many of which are discussed in IGC’s U.S. Securities and Exchange
Commission (“SEC”) filings. IGC incorporates by reference the human
trial disclosures and Risk Factors identified in its Annual Report
on Form 10-K filed with the SEC on July 7, 2023, as if fully
incorporated and restated herein. In light of these risks and
uncertainties, there can be no assurance that the forward-looking
information contained in this release will occur.
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Investors IMS Investor Relations Walter Frank
igc@imsinvestorrelations.com (203) 972-9200
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