IGC Pharma (NYSE American: IGC), a clinical-stage pharmaceutical company, has received a $3 million strategic investment from funds managed by Bradbury Asset Management (Hong Kong) Limited, a leading asset management company. According to the announcement, IGC Pharma entered into a share purchase agreement (“SPA”) with Bradbury comprised of IGC issuing 8,823,529 shares of unregistered common stock that are not immediately tradable. The company anticipates using the funds from the agreement for general corporate purposes as well as the development of its investigational medicines, including IGC-AD1. IGC Pharma noted that the completion of the investment is dependent on customary closing conditions, including approval by the NYSE. Under the terms of the SPA, IGC will issue 8,823,529 shares of common stock. The shares are unregistered and are not immediately tradable.
To view the full press release, visit https://ibn.fm/kr3gZ
About IGC Pharma
IGC Pharma is focused on Alzheimer’s disease, developing innovative solutions to address this devastating illness. The company’s mission is to transform the landscape of Alzheimer’s treatment with a robust pipeline of five promising drug candidates. IGC-AD1 and LMP target the hallmarks of Alzheimer’s disease, including neuroinflammation, Aβ plaques, and neurofibrillary tangles. IGC-AD1 is currently undergoing a phase 2 clinical trial for agitation in dementia associated with Alzheimer’s. TGR-63 disrupts the progression of Alzheimer’s by targeting Aβ plaques. IGC-M3, currently in preclinical development, aims to inhibit the aggregation of Aβ plaques, potentially impacting early-stage Alzheimer’s. IGC-1C, also in preclinical stages, targets tau protein and neurofibrillary tangles, representing a forward-thinking approach to Alzheimer’s therapy. In addition to its drug-development pipeline, IGC Pharma seeks to leverage Artificial Intelligence (AI) for Alzheimer’s research. The company’s AI projects encompass various areas, including clinical trial optimization and early detection of Alzheimer’s. For more information, visit the company’s website at www.IGCInc.us.
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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