Dear Fellow Stakeholders,
As I mentioned in my previous memo, I will periodically be sharing updates and perspectives on various aspects of our business that I believe are helpful to stakeholders.
One aspect of our business that I believe is underappreciated is our vertically integrated business model. This is a key strategic advantage that should drive quality control and efficiency in our business as we scale.
In addition to our headquarters in Potomac, Maryland, we have a manufacturing and processing facility in Vancouver, Washington, and a research and development facility based in Bogota, Colombia. These facilities integrate the key elements of our supply chain to help ensure the best quality product for our trials while simultaneously providing cost efficiencies, particularly as the company grows.
Our lead drug candidate, IGC-AD1 has the potential to revolutionize the treatment of Alzheimer’s Disease as the first and only low-dose natural THC-based formulation candidate currently undergoing FDA trials. Rather than depending on third parties, with our state-of-the-art R&D facility in Bogota, we produce high-quality cannabis efficiently for our clinical trials. We also conduct extensive R&D at this facility, researching opportunities to both improve our existing drugs as well as additional indications to further expand our pipeline.
With a CGMP processing and manufacturing facility in Washington (CGMP standing for the Current Good Manufacturing Processes enforced by the FDA) we can manufacture and process our drug formulations, including IGC-AD1 in-house and in compliance with FDA standards. With our own manufacturing, we are able to totally control the quality of the product and believe that this also will provide cost savings as our business achieves milestones and increases scale. As we continue to progress IGC-AD1 through FDA trials, we’re readying these facilities for both Phase 3 testing and commercialization.
Our vertical integration is a true differentiator for our business. We believe that we have revolutionary drug formulations that effectively treat some of the most prevalent diseases in the world such as Alzheimer’s disease, and our vertically integrated business model will help us more efficiently bring these products to market.
We look forward to keeping you apprised of future developments and thank you for your continued interest and support in IGC Pharma.
Ram Mukunda, CEO