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MGC PHARMACEUTICALS LTD - Corporate Spotlight

MGC Pharmaceuticals is a European based ‘Seed to Medicine’ bio-pharma company focussed on... MGC Pharmaceuticals is a European based ‘Seed to Medicine’ bio-pharma company focussed on developing and commercialising phytocannabinoid derived medicines. The Company’s product offering currently targets two widespread medical conditions – epilepsy and dementia. Based in Europe, MGC Pharma is working to meet the growing demand for affordable high-quality phytocannabinoid medicines globally.More

Corporate Spotlight

MGC Pharmaceuticals is a European based ‘Seed to Medicine’ bio-pharma company focussed on developing and commercialising phytocannabinoid derived medicines. The Company’s product offering currently targets two widespread medical conditions – epilepsy and dementia, Based in Europe.
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MGC Pharmaceuticals at CannaTech UK

MXC EXPAND DISTRIBUTION NETWORK

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MGC Pharmaceuticals (ASX:MXC) expands distribution network with Medicinal Cannabis Clinics buyout

Health Care

ASX:MXC    MCAP $36.37M


MGC Pharma (ASX:MXC) - Founders, Nativ Segev (left) and Roby Zomer (right) - The Market Herald

Founders, Nativ Segev (left) and Roby Zomer (right)Source: MGC Pharma


  • ·MGC Pharmaceuticals (MXC) has finalised its buyout of telehealth provider Medicinal Cannabis Clinics
  • ·The deal cost MGC $1 million in ordinary shares and a further $400,000 in cash, in exchange for Medicinal Cannabis Clinics' business assets, data and intellectual properties
  • ·Medicinal Cannabis Clinics currently has access to over 600 pharmacy accounts and has facilitated over 4,000 medical consultations to-date through its telehealth network 
  • ·Following the buyout, Medicinal Cannabis Clinics is now in the process of obtaining the relevant state and federal licences to import and distribute MGC’s medicinal cannabis products in Australia
  • ·MGC Pharmaceuticals closed 4.76 per cent in the green for 2.2 cents per share.

MGC Pharmaceuticals (ASX:MXC) has finalised its buyout of telehealth provider Medicinal Cannabis Clinics.

First announced back in July, the deal cost MGC $1 million in ordinary shares and a further $400,000 in cash in exchange for Medicinal Cannabis Clinics’ business assets, data and intellectual properties.

Having only been established last year, Medicinal Cannabis Clinics has already risen to become one of Australia’s leading telehealth medicinal cannabis clinics. 

Medicinal Cannabis Clinics currently has access to over 600 pharmacy accounts and has, so far, facilitated over 4,000 medical consultations through its telehealth network. MGC Pharmaceuticals is eager to incorporate this network into its own European-based phytocannabinoid-derived medicine business.

With the buyout finalised, MCC is now in the process of obtaining the relevant state and federal licences to import and distribute MGC’s medicinal cannabis products in Australia. Once the licences are in hand, MCC will become part of MGC’s overall supply chain, expanding its presence across the emerging Australian medical cannabis market.  

Read the full article on The Market Herald

MXC PROGRESSES BRAIN CANCER RESEARCH

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MGC Pharmaceuticals (ASX:MXC) progresses brain cancer research

Health Care

ASX:MXC    MCAP $36.09M


MGC Pharmaceuticals (ASX:MXC) - Co Founder and Managing Director, Roby Zomer - The Market Herald


·Bio-pharma company MGC Pharmaceuticals (MXC) has progressed its research program using cannabis to develop a treatment for glioblastoma, an aggressive type of brain tumour 

·The company tested 18 patient tumour samples using a cannabidiol (CBD) and cannabigerol (CBG) formula

·It found that CBD slowed the viability of the cancer, while CBG increased the death rate of cancerous cells 

·Following the successful program, MGC will continue the research, aiming for a human clinical trial next year

·On the market this morning, MGC is in the grey and trading for 2.2 cents per share

MGC Pharmaceuticals (MXC) has further progressed its ongoing research program to develop a treatment for an aggressive brain tumour known as glioblastoma. 

The company is currently testing cannabinoid formations on the therapeutically resistant tumour. The research is focused on the use of cannabidiol (CBD) and cannabigerol (CBG) after successful program results in April

Read the full article on The Market Herald



MXC COMPLETES COVOID-19 PHASE TWO TEST

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MGC Pharmaceuticals (ASX:MXC) completes COVID-19 phase two test

Health Care

ASX:MXC    MCAP $32.81M 0
MGC Pharma (ASX:MXC) taps investors for $4M to ramp up production
Source: MGC Pharmaceuticals 


  • MGC Pharmaceuticals (MXC) has completed its COVID-19 phase two clinical trial
  • The trial saw 50 virus-infected patients treated with MGC's anti-inflammatory treatment, ArtemiC
  • The aim of the trial was to test the efficacy and safety of the treatment and evaluate the patient's recovery rates
  • The results of the trial are expected to be revealed over the next month
  • On the market this afternoon, MGC is up 10 per cent and is trading for 2.2 cents per share

MGC Pharmaceuticals (ASX:MXC) has completed its COVID-19 phase two clinical trial for ArtemiC. 


The trial saw 50 virus-infected patients treated with MGC's anti-inflammatory treatment, ArtemiC. The aim of the trial was to test the efficacy and safety of the treatment and evaluate the patient's recovery rates. 


Results of the trial will be reported in the next month following an independent technical review and statistical validation of the trial data. 


In August, the company reported interim results from the first 10 patients in Israel. The trial met all its primary goals of being effective and date for human use.


If the full trial results confirm the interim results, the company is well-positioned to fast-track production of ArtemiC as a food supplement to meet the expected demand. 


With widespread outbreaks of COVID-19 cases and second waves of the pandemic across several countries, in America’s, Europe, Russia and the Middle East, gives MGC the opportunity to continue to progress its clinical trial work. 


According to the World Health Organisation’s weekly situation report, there have been over 3 million new cases over the week, the highest number of weekly new COVID-19 cases reported globally since the outbreak. 


"We are very pleased to announce the completion of Phase two clinical trial for ArtemiCTM," Co-founder and Managing Director Roby Zomer said.


"The second wave of the pandemic is again putting increased pressure on a number of healthcare systems around the world. We look forward to announcing full results of this trial in coming weeks and will continue to progress this important clinical trial work," he added.


Read the full article on The Market Herald

MXC DELIVERS RECORD SALES GROWTH

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MGC Pharmaceuticals (ASX:MXC) delivers record weekly sales growth

Health Care

ASX:MXC    MCAP $37.73
MGC Pharma (ASX:MXC) - Co Founder and Managing Director, Roby Zomer - The Market Herald
Co Founder and Managing Director, Roby Zomer
Source: Proactive Investors 


  • MGC Pharmaceuticals (MXC) has delivered record week-on-week sales and revenue growth through September and October
  • The company largely attributes the growth to the launch of its new Mercury Pharma line of cannabinoid medicines in Australia and Brazil
  • Monthly sales have exceeded 7000 units for the first time, which marks an increase of more than 65 per cent since June 30
  • The record figures put MGC on track to meet its goal and average 5000 unit sales per month across the first half of 2021
  • MGC is also in a prime position to take advantage of upcoming regulatory changes from the Australian Therapeutic Goods Administration (TGA)
  • Once implemented, these changes will allow some cannabinoid medicines to be sold over-the-counter at pharmacies
  • MGC Pharmaceuticals is trading 4.35 per cent higher for 2.4 cents per share

MGC Pharmaceuticals (MXC) has delivered record week-on-week sales and revenue growth through September and October.


Sales have exceeded $225,000 in the past four weeks, which are the best consecutive weekly sales results to date.


New line, new growth

The company largely attributes the growth to the launch of its new Mercury Pharma line of cannabinoid medicines into the Australian and Brazilian markets.


Monthly sales have exceeded 7000 units for the first time, which marks an increase of more than 65 per cent since June 30.

Most of the growth has come in the Australian market, where demand has outstripped expectations.


Offering a full range of products at a reduced price point has led to an increased uptake of the Mercury Pharma line by suppliers, including Australia's leading distributor on cannabinoid medicines, Cannvalate.


MGC CEO and Managing Director Roby Zomer says providing cheaper premium products has been key in the company's growth strategy.


"It is increasingly brought to our attention that one of the major inhibiting factors for patient access to medicinal cannabis in Australia, and globally, is the high price point that comes with high-quality medications that are not covered by insurance," Roby said. 


"We are constantly streamlining our operations in order to lower our overall cost base, to ensure we can meet our obligation to increase patient access to affordable, high-quality medicinal cannabis products," he continued. 


"We are seeing the results of this strategy through the increase in patient demand and sales volumes," Roby concluded.


Outlook

Based on the recent record figures MGC is well on track to meet its goal and average 5000 unit sales per month across the first half of 2021.


MGC is also in a prime position to take advantage of upcoming regulatory changes from the Australian Therapeutic Goods Administration (TGA) to allow some cannabinoid medicines to be sold over-the-counter at pharmacies.


Some of the company's products are primed for registration as schedule three medicines, potentially positioning MGC as a market leader and providing access to significant revenues.


So far, the fresh COVID-19 outbreak in Europe has not affected production at the company's Slovenian manufacturing plant.


Read the full article on The Market Herald 

MGC PHARMA LAUNCHES

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MGC Pharma Launches New Affordable Cannabinoid Products Line in Australia & New Zealand – “Mercury Pharma” 

ASX Announcement 7 January 2020


MGC Pharmaceuticals Ltd (ASX: MXC, ‘MGC Pharma’ or ‘the Company’), a European based ‘Seed to Pharmacy’ bio-pharma company focused on developing and commercialising cannabinoid derived medicines, is pleased to announce the launch of a new proprietary affordable prescription medicine line to be branded as Mercury Pharma, specifically for the Australian and New Zealand markets. The first product being “Mercury Pharma 100” (‘MP100’), a 100mg/mL CBD solution that will be prescribed by health care professionals in Australia and New Zealand, initially distributed by Australian medicinal cannabis distribution and logistics specialist Cannvalate Pty Ltd and Health House International Pty Ltd in due course.


Purchase orders for MP100 already received have totalled over 2,000 units to be delivered in January and February, which will deliver an immediate and positive impact on the Company’s Q1 2020 revenues


Key Highlights

  • Launch of Mercury Pharma brand and MP100, an affordable prescription only 100mg/mL cannabidiol (CBD) solution 
  • MP100 is being produced specifically for the Australian and New Zealand markets only, which will compete against existing high CBD products already available and sold in these 2 markets 
  • Purchase orders for 2,000 units received to be delivered in January and February 2020, totalling revenue in excess of c.AUD$270,000 which will have a positive and immediate effect on short term revenues, a trend we expect to continue and grow. Products ordered to date are expected to be supplied within 30 days of the date of this announcement, pending the granting of Import Permits by the Australian Office of Drug Control 
  • MP100 has been developed following feedback from patients and prescribing physicians that one the biggest hurdles to accessing and continuing as patients is the cost of phytocannabinoid derived medication currently available 
  • MP100 will help drive total Australian and New Zealand prescription numbers of MGC Pharma phytocannabinoid derived medicines in the short term due to the products affordability, and Cannvalate’s growing clinical and distribution network 
  • MP100 will initially be supplied, under current distribution agreements, by Cannvalate Pty Ltd, with additional purchase orders from Health House International expected in the coming weeks


Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “The launch of Mercury Pharma brand and “MP100” so early in 2020 bodes well for the year ahead as MGC Pharma continues to follow its agenda to provide cost effective affordable standardised phytocannabinoid based medicines to patients globally. 


“The Mercury Pharma brand brings an alternative affordable high CBD prescription medicine to the Australian and New Zealand markets only, as well as adding a new product line to MGC Pharma’s offering. Without competing with our existing EU GMP Pharma grade medicines, we believe we will be a serious competitor for already available cannabis derived products, and look to disrupt the market. We have already seen a positive response to MP100 with purchase orders totalling over AU$270,000, which will have an immediate and positive effect on our revenues in Q1 2020.


“With ever increasing prescription numbers for our pharma-grade products, we expect to see a further significant increase in patient and prescription numbers in the relative short term as MP100 is increasingly available in Australia and New Zealand, and as we continue to develop additional formulations for the Mercury Pharma brand.” 


Darryl Davies, COO of Cannvalate Pty Limited, commented: "Cannvalate are delighted to introduce MGC Pharma's latest range across our network. MP100 is a high-quality, cost effective medication option that we expect to be extremely well received by both prescribing physicians and patients. MXC continue to work towards lowering barriers for Australian patients and we expect this will be the start of significant growth in patient numbers for 2020."


Click here to view the full announcement

VIDEO'S

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MGC PHARMACEUTICALS IN ACTION



Description: CannaTech Conference attended by MGC Pharmaceuticals in London, October 2017.



 Description: Interview of Nitin Mantri, Senior Lecturer at RMIT University, as he discusses the first project of the collaboration between MGC Pharma and RMIT.

(20min delay)
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