BETHESDA, Md. and SAN JUAN, Puerto Rico, March 26, 2018 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (NYSE:IGC) – Alzheimer’s patients in Puerto Rico will be the first in the United States to obtain Hyalolex, IGC’s proprietary cannabinoid based formulation aimed at relieving many of the symptoms of Alzheimer’s Disease, such as agitation, anxiety, sleep disorder, as well as caregiver distress, among others. Pursuant to an agreement between IGC and DaMa Pharmaceutical and its affiliates, Hyalolex will be on the shelves in April, and available to patients in ten of Puerto Rico’s 30 dispensaries, including the two premier dispensaries in San Juan, the largest city in Puerto Rico. Under the licensing terms DaMa will help produce Hyalolex in Puerto Rico, and market Hyalolex to medical dispensaries and end users. Hyalolex will be prescribed as a liquid supplement in twice-daily doses for mild to moderate Alzheimer patients, and thrice-daily doses for moderate to advanced patients.
“We are very pleased to work with the DaMa Pharmaceutical team to bring Hyalolex to Puerto Rico, which has a long history of developing premier pharmaceutical products,” said Ram Mukunda CEO of IGC. He noted that the Puerto Rican government has been a supporter of a comprehensive medical cannabis program. “We are proud to be a contributor to Puerto Rico’s economic development and to the wellbeing of its Alzheimer’s patients”, he said. According to alz.org, Hispanics are approximately one and one-half times as likely to have Alzheimer’s as non-Hispanic whites.
“This is a decisive step in delivering our cannabis intellectual property to patients, after many years of development. It is particularly important as part of our effort to establish a distribution network to productize our IP,” Mukunda said.
This partnership represents a significant opportunity to provide those afflicted with Alzheimer’s with potential relief from a very difficult diagnosis and ease the burden of their caregivers who attend to them. It also represents a significant opportunity to collect data on Hyalolex’s performance within a diverse patient set”, said Mukunda. IGC will deploy a QR code-based product assurance, information dissemination, and data collection system as a step towards a more robust block chain-based product assurance system.
About Alzheimer’s Disease:
Alzheimer’s Disease (AD) is a form of dementia. It is known as America’s most expensive disease, with an estimated cost to the U.S. economy of $236 billion. AD currently affects more than 5.3 million Americans and over 65% of AD patients are women. Over the next 20 years, the number of those afflicted with the disease is expected to double. The forecast is staggering, considering that to date, no effective cure has been found.
IGC has two lines of business. In addition to its cannabis pharmaceutical business, it also operates a legacy infrastructure and commodity trading business. Hyalolex is the Company’s lead product but it is in various stages of development of other cannabis-based medical products. 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.
For more information please visit www.igcinc.us; www.igcpharma.com; www.hyalolex.com. Follow us on Twitter @IGCIR and Facebook.com/IGCIR/
About DaMa Pharmaceutical:
DaMa Pharmaceutical LLC is a Puerto Rico based Clinical Research Organization (CRO) providing clinical trials, manufacturing, and distribution of cannabis based medicine through licensed growers and dispensaries.
Please see forward looking statements as discussed in detail in IGC's Form 10K for fiscal year ended March 31, 2017, and in other reports filed with the U.S. Securities and Exchange Commission.