IGC Pharma (NYSE American: IGC) today announced the addition of an important trial site at the University of Puerto Rico network as an expansion of its ongoing phase 2 clinical trial investigating lead drug asset, IGC-AD1, as a treatment for lowering agitation in patients with Alzheimer’s disease. According to clinicaltrials.gov, IGC-AD1 is the only natural THC-based investigational drug undergoing FDA trials. The therapy relies on low doses of THC and another compound as pharmaceutical active agents for the treatment of Alzheimer’s and, in pre-clinical and phase 1 studies, has shown the potential to be effective in ameliorating Aβ plaques and to reduce neuropsychiatric symptoms such as agitation in dementia due to Alzheimer’s. “We are excited to announce our partnership with the University of Puerto Rico, a remarkable institution conducting world-leading medical research,” said Ram Mukunda, CEO of IGC Pharma. “The addition of this site with individuals living with Alzheimer’s from the Hispanic community is a significant milestone in our phase 2 trial. Alzheimer’s disease, including the resulting symptom of agitation, is complex to treat and incredibly hard to live with.”

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About IGC Pharma Inc.

IGC Pharma develops advanced cannabinoid-based formulations for treating diseases and conditions, including, but not limited to, Alzheimer’s disease, period cramps (“dysmenorrhea”), premenstrual syndrome (“PMS”), and chronic pain. IGC has two investigational drug assets targeting Alzheimer’s disease, IGC-AD1 and TGR-63, which have demonstrated in Alzheimer’s cell lines the potential to be effective in suppressing or ameliorating key hallmarks of Alzheimer’s disease, such as plaques or tangles. IGC-AD1 is a low-dose tetrahydrocannabinol (“THC”) based formulation that is currently in a 146-person phase 2 clinical trial for agitation in dementia due to Alzheimer’s (clinicaltrials.gov, NCT05543681). IGC also markets a wellness brand, Holief(TM), that targets women experiencing premenstrual syndrome and menstrual cramps.

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The most significant development in Europe’s marijuana market took an unexpected turn this year. Despite expectations, Germany decided against legalizing the recreational use of marijuana. Instead, the country diluted its plans for law reform following consultations with regulatory bodies.

Now, one might wonder if this decision sets a negative precedent for venture capitalists (VCs) investing in European cannabis startups. Surprisingly, it may not be all bad news; in fact, it could prove beneficial for some. Óskare Capital cofounder Oliver Lamb views Germany’s cautious approach positively, especially for the medical and pharmaceutical sectors.

Drawing lessons from North America’s experience, Lamb highlights the potential pitfalls of a hybrid recreational-medical market. The U.S. witnessed the adverse consequences of blurring lines between medical and recreational cannabis, hampering targeted medication development.

Matt Hawkins, founder of Entourage Effect Capital, concurs, stressing the importance of learning from past experiences to avoid such mishaps. Despite concerns about the limited addressable market for legal cannabis in Europe, influenced by Germany’s recent decision, some funds are not entirely discouraged. Hawkins admits that the scaling back in Germany has made the firm more cautious about investing in Europe. Nevertheless, officials still hold hope for the continent’s ability to create a commercial adult-use market, albeit recognizing the challenges.

Adding to the complexities, European cannabis startups are currently grappling with a global repricing wave initiated by investors. Many consider these companies to be overvalued, prompting caution in the investment landscape.

In this light, Emily Paxhia, cofounder of Poseidon Investment Management, advises cannabis entrepreneurs buckle down and persevere amid the slowdown, with survival becoming the top priority.

For companies aware that they might not endure these tough times, seeking potential buyers through consolidation emerges as a viable option. It is anticipated that mergers and acquisitions will become more common in the coming months. However, the market currently favors buyers, making it a challenging environment for sellers, as highlighted by Lamb.

Ultimately, while Germany’s decision to hold back on recreational legalization surprised many, it has opened up conversations about the delicate balance between medical and recreational cannabis markets. Investors and entrepreneurs alike must navigate these waters carefully, learning from the lessons of the past and making strategic decisions to thrive in this evolving industry. As the European cannabis market continues to develop, key attributes such as adaptation, resilience and foresight will be the essential ingredients for success.

As the approach in Germany shows, the medical side of marijuana isn’t as controversial as the substance’s recreational use. It is therefore no wonder that several entities such as IGC Pharma Inc. (NYSE American: IGC) are seeking to develop pharmaceutical-grade formulations from marijuana compounds, including THC. Such an approach sidesteps the politics often linked to marijuana and follows the clearly defined drug development process.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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The U.S. Departments of Defense and Veterans Affairs both hold firm opposition to the use of cannabis in treating PTSD. However, when it comes to psychedelics such as LSD and psilocybin, their stance is more neutral, asserting the need for further research.

In a recent update to joint clinical practice guidelines, the departments offered recommendations on various therapies to address acute stress disorder and PTSD commonly affecting military veterans. Despite many veterans turning to cannabis for symptom relief, the DOD/VA Management of Post-Traumatic Stress Disorder and Acute Stress Disorder Work Group is wholly against this alternative treatment. While the work group strongly opposed medical cannabis, they admitted their confidence in existing evidence was “very low.” This was due to the lack of reliable clinical trials, small sample sizes and selection bias in the available data.

However, the departments actively sought new data on psychedelics, which had not been mentioned in their prior review six years ago. Their investigation into the therapeutic potential of ayahuasca, psilocybin, LSD, DMT and ibogaine yielded no studies that met the search criteria for PTSD effects, as reported by Psychedelic Alpha. Notably, the DOD and VA addressed MDMA separately. The FDA granted “breakthrough therapy” designation to MDMA based on preclinical evidence suggesting its potential for treating PTSD.

However, the departments are cautious, stating there is “insufficient evidence to recommend for or against” the effectiveness of MDMA-assisted therapy for PTSD. The varying control conditions in the relevant studies could have biased outcomes.

While the DOD and VA remain hesitant to endorse psychedelics and strongly reject cannabis for treating mental-health conditions, bipartisan lawmakers urge federal agencies to explore the therapeutic efficacy of these substances. They also aim to protect veterans in legal states from facing penalties for medical marijuana use.

Recent amendments filed for a VA spending bill in the House propose safeguards for veterans using medical marijuana and for VA doctors recommending such programs. However, the House Rules Committee’s approval is needed for these measures to advance to the floor for consideration. The committee previously blocked numerous cannabis and psychedelics amendments to the National Defense Authorization Act (NDAA).

Nonetheless, the House Armed Services Committee had previously inserted two marijuana and psychedelics-related proposals into the NDAA’s core text. One proposal mandates that the defense secretary carry out clinical investigations on the therapeutic advantages of psychedelics for active-duty military members suffering from PTSD, traumatic brain injury or chronic traumatic encephalopathy, using psilocybin, MDMA, ibogaine or DMT. The Rules Committee did, however, reject some of the NDAA’s suggested changes.

While the DOD and VA are firm in their rejection of the medicinal potential of cannabis, many companies such as IGC Pharma Inc. (NYSE: IGC) are so strong in their belief in the potential of these substances that they are investing millions of dollars in commercializing FDA-approved THC formulations against chronic pain and other conditions.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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According to a new study, the vast majority of American military veterans who use medical marijuana claim noticeable increases in their general well-being. The study, conducted by a team from the University of Utah, the University of Massachusetts and various marijuana research institutes, analyzed survey data from more than 500 veterans who openly admitted to using marijuana. The goal was to gain deeper insights into the motives and outcomes of their cannabis usage.

Interestingly, approximately 67% of respondents disclosed that they use marijuana on a daily basis. For 30% of these veterans, marijuana serves as a valuable substitute for conventional medications such as nonsteroidal anti-inflammatory drugs and antidepressants. Even more striking, 21% claimed that marijuana allowed them to cut down on opioid-based prescriptions, which can be particularly concerning given the ongoing opioid crisis.

Unquestionably, the study’s results are overwhelmingly positive, with an impressive 91% of veterans affirming that medical marijuana significantly enhances their well-being.

This research holds particular significance for veterans, considering the disproportionate prevalence of post-traumatic stress disorder (PTSD) and alarming suicide rates within the community. Many veterans have turned to cannabis as a viable treatment option, as evident in a 2019 survey conducted by the IAVA, where 20% of veterans used cannabis for medical use and 66% for recreational purposes.

The Department of Veterans Affairs currently allows veterans to discuss their marijuana use with doctors. However, doctors are legally barred from issuing medical marijuana recommendations. Nevertheless, there are efforts in Congress to change this, with a bipartisan bill aiming to grant doctors the ability to recommend medical cannabis in legal states.

Lawmakers have also shown interest in exploring the potential benefits of psychedelics for active duty military personnel and have initiated a medical cannabis “pilot program” through the National Defense Authorization Act (NDAA). Similarly, the Senate Veterans Affairs Committee approved a bill to study the therapeutic potential of marijuana for veterans with specific conditions, marking a groundbreaking step in cannabis legislation.

Representative Mariannette Miller-Meeks introduced a separate bill to promote research into marijuana’s medical potential for veterans with chronic pain, PTSD or other pertinent disorders as determined by the VA secretary.

Despite Congress’s previous failure to pass a marijuana and veterans research bill, there remains a strong coalition of more than 20 veterans service organizations (VSOs) advocating for further research and legislation in this area.

It isn’t surprising that enterprises such as IGC Pharma Inc. (NYSE American: IGC) are seeking to take the medical use of cannabis compounds a step higher by commercializing formulations that have been subjected to FDA scrutiny and oversight.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Marijuana retailers are well aware of the fact that customers prefer to purchase cannabis from nearby sources when possible. This intuition is supported by a recent study on Canada’s legalized marijuana market, which shows that consumers are much more likely to purchase products from legal marketplaces if they are close to licensed retailers.

The research, which is slated for publication in the “Journal of Studies on Drugs and Alcohol,” explores the relationship between Canadian marijuana users’ proximity to authorized retail establishments and their decision to buy cannabis products. Notably, respondents were more likely to choose legal establishments and less likely to choose regulated internet sites if they lived within three kilometers (about 1.9 miles) of the closest permitted cannabis retailer.

The study, which examines data from 15,312 Canadian marijuana users who took part in the International Marijuana Policy Study, spans the years 2019 to 2021. The study uses postal codes, which are typically more precise than U.S. ZIP codes, to locate their locations. The investigation explored various sources from which cannabis users acquired marijuana, such as regulated and illicit stores, websites, dealers, home production, and family and friends.

Compared to those who lived farther away, those who lived within three kilometers of a physically permitted marijuana business were less likely to buy from licensed online retailers or raise their own plants.

Interestingly, a comparison between Quebec and Alberta shows that consumers’ satisfaction declines when marijuana stores get closer to one another. The private cannabis retail industry in Alberta had a significant ratio of 18.7 outlets per 100,000 persons by 2021, compared to just 0.8 stores in Quebec’s government-owned retail monopoly. Albertans are more likely to purchase from regulated stores, although the difference was just 1.6 times greater.

The study also discovered a rise in the percentage of respondents obtaining their cannabis through legal channels and a drop in those obtaining it illegally, which is consistent with Canada’s goals for legalizing recreational marijuana.

It’s worth noting that the three-kilometer distance doesn’t necessarily correspond to the actual travel distance from a respondent’s postal code to the closest retail outlet. Instead, it reflects a straight line.

Canada had more than 3,740 licensed marijuana retail establishments as of April 2023 across all of its provinces and territories, which equates to 0.95 cannabis outlets per 10,000 persons. Alberta continues to be the state with the most marijuana stores per capita.

The report also showed $3.4 billion worth of legal recreational marijuana was sold in 2022, a 17.9% rise over 2021. In contrast, medical marijuana sales have decreased from their high as a result of the spike in recreational cannabis spending since it cannot be purchased through adult-use retail stores.

While companies that sell recreational or medical cannabis have to compete with unlicensed dealers, enterprises that focus on FDA-approved formulations made from marijuana compounds, such as IGC Pharma Inc. (NYSE American: IGC), don’t have such concerns because their products are accessible from pharmacies if one gets a prescription from their doctor.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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