IGC Acquires Exclusive Rights to Potential Alzheimer’s Disease Drug Development Candidate

BETHESDA, Maryland–(BUSINESS WIRE)–India Globalization Capital, Inc. (NYSE:IGC) is delighted to announce that one of its subsidiaries has entered into an intellectual property (IP) license agreement for a potential drug development candidate for Alzheimer’s disease.

Researchers from the Jawaharlal Nehru Center for Advanced Scientific Research (“JNCASR”), India, have conducted approximately 10 years of research and discovery work on NMI (naphthalene monoimide) compounds and the role of NMI compounds on neurotoxicity associated with Alzheimer’s disease. Neurotoxicity, which can result from exposure to natural or synthetic substances, causes damage to the brain and nervous system. In patients with Alzheimer’s disease, neurotoxicity is related to beta-amyloid (Aβ) plaques and neurofibrillary tangles (NFTs).

JNCASR research based on Alzheimer’s disease cell lines has identified a lead NMI molecule, TGR 63, with the potential to reduce beta-amyloid (Aβ) plaques. Additionally, they demonstrated that the molecule reduced cognitive decline in a transgenic mouse model of Alzheimer’s disease. Their results were published in Advanced therapy under the title “A naphthalene monoimide derivative improves amyloid load and cognitive decline in a transgenic mouse model of Alzheimer’s disease” on January 28, 2021.

IGC has acquired exclusive worldwide rights to the molecule and plans to continue development of this NMI candidate. IGC is currently in human trials with IGC-AD1 which targets neuropsychiatric symptoms associated with dementia in Alzheimer’s disease. It is currently being evaluated as a symptom modifying agent for Alzheimer’s disease. TGR-63, the new molecule, strategically offers the Company a potential disease modifying agent and positions the Company to develop a drug that can potentially treat or modify Alzheimer’s disease by targeting beta-amyloid (Aβ) plaques. .

According to the World Health Organization (2020), around the world, approximately 55 million people suffer from dementia, and approximately 60-70% of dementia is related to Alzheimer’s disease. This number is expected to increase to approximately 78 million people in 2030, with the total estimated global societal cost of dementia expected to exceed $2.8 trillion by 2030.

About JNCASR:

The Jawaharlal Nehru Center for Advanced Scientific Research, located in Bengaluru, India, is an autonomous institution under the Department of Science and Technology, Government of India. https://www.jncasr.ac.in/home

About the IGC:

IGC has two segments: Infrastructure and Life Sciences. The company is based in Maryland, USA

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 numerous risks and uncertainties, some of which are beyond IGC’s control. Actual results could differ materially from these forward-looking statements due to, among other factors, the Company’s failure or inability to commercialize one or more of the Company’s products or technologies, including the product or formulation described in this release, or the inability to obtain regulatory approval for the product or formulation, if any; general economic conditions less favorable than expected, in particular due to the ongoing COVID-19 pandemic; the general position of the FDA regarding cannabis and hemp products; and other factors, many of which are discussed in IGC’s filings with the SEC. IGC incorporates by reference the human trial disclosures and identified risk factors in its annual reports on Form 10-K filed with the SEC on June 14, 2021, and its quarterly reports on Form 10-Q, filed with the SEC on August 11, 2021, and October 29, 2021, 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.