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India Globalization Capital (IGC) Stock Surges US Patent Issuance

Sam Boughedda
Sam Boughedda trader
Updated 22 Jul 2021

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India Globalization Capital (NYSE American: IGC) announced on Thursday that the United States Patent and Trademark Office (USPTO) issued a patent for treating Alzheimer’s disease.

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The patent is entitled “Ultra-Low dose THC as a potential therapeutic and prophylactic agent for Alzheimer’s Disease.”

The original patent application was initiated by the University of South Florida and filed in 2016. However, in 2017, IGC entered into an exclusive license agreement with the university concerning the patent application and the associated research into Alzheimer’s disease.

The patent relates to IGC’s proprietary formulation intended to assist in treating individuals living with Alzheimer’s disease.

The formulation is currently in Phase 1 trials with IGC recently announcing “the completion of Cohort 3 in its placebo-controlled Multiple Ascending Dose (MAD) phase 1 trial for establishing safety and tolerability of IGC-AD1 that uses THC on patients suffering from Alzheimer’s disease.”

IGC’s share price has climbed 152% to $3.73 so far premarket on Thursday. It was previously down over 5% for the year to date.

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Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.