India Globalization Capital (NYSE American: IGC) applauds the signing of the Medical Marijuana and Cannabidiol Research Expansion Act, which was signed into law by President Biden on Friday Dec. 2, 2022. The legislation establishes a new registration process for conducting research on marijuana and for manufacturing marijuana products for research purposes and drug development. “The study and development of cannabis for its potential therapeutic benefits is at the center of our work at IGC-Pharma,” said Ram Mukunda, CEO of IGC. “For many years, onerous federal barriers have made it difficult to efficiently source and study cannabis for pharmaceutical applications. We believe the establishment of this new law, which hastens the research application process and also ensures adequate supplies of marijuana for clinical studies, is a milestone development for the medical cannabis industry at large and a very positive development for our company.”
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About India Globalization Capital Inc.
India Globalization Capital develops advanced cannabinoid-based formulations for treating diseases, including but not limited to Alzheimer’s, Parkinson’s, chronic pain, and pet seizures. The company’s leading drug candidate, IGC-AD1, has demonstrated, in Alzheimer’s cell lines, the potential to be effective in suppressing or ameliorating a key protein responsible for Aβ plaques and has recently entered phase 2 clinical trials for agitation in dementia from Alzheimer’s. The company also has lines of various CBD-based consumer products such as Holief, which includes gummies and pain relief creams for women experiencing premenstrual syndrome (“PMS”) and dysmenorrhea (period cramps), and Sunday Seltzer, which includes a CBD-infused energy beverage – all currently available for purchase. The company also operates an infrastructure business based in India. The company is headquartered in Maryland, U.S.A.
NOTE TO INVESTORS: The latest news and updates relating to IGC are available in the company’s newsroom at https://ibn.fm/IGC
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