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CEO Spotlight: Ram Mukunda of India Globalization Capital $IGC

May 17, 2017 • 1:15 PM EDT
5 MIN READ  •  By Michael Berger
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India Globalization Capital (NYSE: IGC) is a cannabis biotech play that we have had on our radar for some time now. Their cost and approval efficiencies make them very attractive as they will be able to deliver their innovative combination and multiple-end point therapies quicker and cheaper to the market.

Recently, we had the opportunity to sit down with Ram Mukunda, CEO and President of India Globalization Capital.

IGC recently pivoted its business model and focus to a very high-growth opportunity within the legal medical cannabis industry. Can you please tell us about this change and what shareholders can expect to see in the future?

Absolutely, we’ve been developing phytocannabinoid therapies since mid 2014. Since then we’ve been focusing on combination therapy for human and veterinary treatment, which is a huge untapped opportunity. At the same time, we’ve cleaned up our balance sheet and sold legacy assets (including a retirement of 4 million shares that will appear in our next quarterly filing). Most importantly though, we’re filling out our development pipeline and we’re gearing up to start clinical trials later this year. So three big areas of progress.

IGC has differentiated itself from its peers due to its ability to get products to market in a manner that is faster and cheaper. Please explain how you are able to accomplish this as well as the differences in costs and approval time. 

There are two big ways that we’re able to cut costs. The first is in product development, which we’ve gotten really good at optimizing in the last few years. We’re now able to develop top of the line products and get them patented at a third of the cost of when we started. The secret is our strategic partnerships with high end research institutions as well as our own in house processes.

More significantly though is our expectation that we can conduct clinical trials more quickly and cheaply than our competitors. The key here is our careful creation of products that face lower regulatory barriers than human novel drugs. Our products all fall under the categories of combination therapy, multiple-end point nutraceuticals, and/or veterinary medicine. As a result, for most of our products, we tentatively hope to be able complete clinical trials in as little as 18-24 months at a cost of $1-2M per product. Dramatically lower than the 6-7 years that is required for an FDA novel drug approval.

Anecdotal evidence shows that cannabis has medical benefits. Which indication and ailments do you plan to initially target? 

Because we’re in the process of filing patents, I can’t announce our entire product pipeline yet. So far, we’ve announced our work in three big areas: Pain, Seizures, and Eating disorders. All of that work falls under the umbrella of combination therapy. For eating disorders and seizures we’ve got both human and veterinary products. So that’s already a big pipeline and intellectual property footprint. We’ve been expanding that footprint rapidly and should be ready to take some of our most promising products into trials this year.

Are there other indications and ailments you plan to focus on?

Absolutely. I think the combination therapy and multiple-end point angles are totally unique and really very exciting both on the human and veterinary side. There are a lot of potential applications, so hopefully we can come back and talk about some more of our products very soon. 

What products make up your pipeline and when can the market expect to receive an update on the status of clinical trials?

As we finalize development of several more products, we’ll compare data to determine which products are most promising to start with. I think we should be able to announce start dates for clinical trials within a few months.

IGC plans to utilize a three phase approach for profitability. Can you explain this process and the phases?

Our products go through an initial development phase (including filing patents), followed by clinical testing, followed by commercialization. We have a big pipeline in order to maximize our revenue potential through commercialization and to establish ourselves as an intellectual property gatekeeper. Cannabis medicine is still the wild west, so there’s a lot of prime IP real estate to snap up, which we can do very cheaply. Ultimately though we’re chasing revenue as fast as we can, which is why we’re eager to move choice products into trials soon. 




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Disclosure.  Compensated Affiliate.  This report was authored by and is property of StoneBridge Partners.  All information and data relied upon in drafting this report is publicly available.  The author believes and considers its sources to be reliable, but does not guarantee the accuracy or completeness of any information contained in this report.  Any and all information, data, analyses and opinions are provided for informational purposes only and is not intended, in any manner, as investment advice.  Any projections or other information generated by StoneBridge Partners regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.  None of the material contained in this report is intended as a solution or offer to sell or purchase a specific stock or any other investment.  This report is not directed to, or intended for distribution or use by, any person or entity that is a citizen, resident or located in any municipality, state, country or other jurisdiction where the distribution, publication, availability, or use of this report is contrary to any governing law or regulation.  The securities discussed in this report may not be eligible for purchase and/or sale in certain jurisdictions or by particular individuals.  It is important that you check any and all governing laws and/or regulations that may be applicable in your jurisdiction.  Investing in securities of issuers organized outside of the United States, including ADRs, entail certain risks.  The securities of non-United States issuers may not be registered with, nor be subject to the reporting requirements of the United States Securities and Exchange Commission.  Please contact a Financial Advisor for professional advice regarding any and all securities investments.  This report is intended for informational purposes only.  StoneBridge Partners’s officers, directors, employees, affiliates, or subsidiaries may have positions in securities covered by StoneBridge Partners.  StoneBridge Partners may receive compensation from the company and/or has a position in the securities mentioned in this report

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.


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