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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

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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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MXC SUBMITS PATENT APPLICATION IN EUROPE

MXC GRANTED UK IMPORT PERMIT

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MGC Pharmaceuticals (ASX:MXC) granted UK import permit

Health Care

ASX:MXC
MGC Pharmaceuticals (ASX:MXC) to import proposed COVID-19 treatment in India
A pharmaceutical manufacturing facility. Source: MGC Pharmaceuticals

  • MGC Pharmaceuticals (MXC) is granted a permit to import its refractory epilepsy treatment into the UK
  • CannEpil+ has also been approved for prescription for patients in the UK, marking the first time UK authorities have approved an epilepsy treatment that contains tetrahydrocannabinol (THC)
  • The company will initially provide the treatment to 10 patients in the UK on compassionate grounds and it will be recorded in an observational trial

MGC Pharmaceuticals (MXC) has been granted a permit to import its refractory epilepsy treatment into the UK.


CannEpil+ has been approved for UK import by the Medicine and Healthcare products Regulatory Agency, which was facilitated by its UK distribution and clinical access partner, Elite Pharmaco.

As part of this process, CannEpil+ has been approved for prescription for patients in the UK. This marks the first time UK authorities have approved an epilepsy treatment that contains tetrahydrocannabinol (THC).


Epilepsy affects around 600,000 people in the UK and roughly 50 million people worldwide, with approximately 33 per cent of adults suffering from refractory epilepsy which cannot be controlled with traditional anti-seizure medication.


CannEpil+ will initially be used to treat 10 patients in the UK who suffer from refractory epilepsy. The treatment will be provided free of charge to patients on compassionate grounds for six months.


Once the patients have started their treatment, CannEpil+ will undergo an observational trial with data being entered into a data collection app. The app has been designed to establish a central platform to monitor the safety of treatment in patients globally.


“The approval for the import of CannEpil+ to the UK and the associated compassionate prescriptions is an important step towards our global roll out of the treatment, and our continued commitment to patients,” co-founder and Managing Director of MGC Pharma Roby Zomer said.


The company said it expected that the results from the observational data collection program would provide specialist neurologists and general practitioners confidence to prescribe the treatment to patients in urgent need of help.


The company believes the approval comes in response to the urgent need of some patients to have access to a clinical product which has demonstrated its efficacy at treating Refractory Epilepsy.


Read the Full Article on The Market Herald here

MXC MAKES US DEBUT WITH $33M SUPPLY DEAL

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MGC Pharma (ASX:MXC) makes US debut with $33m supply deal

Health Care

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

  • MGC Pharma (MGC) signs its first dedicated agreement in the US for the supply of pharmaceutical products to AMC Holdings (AMC)
  • MGC will supply its CannEpil, CogniCann and CimetrA products to AMC in orders worth a minimum of US$24 million over an initial three-year term
  • The deal marks an important step in expediting clinical trials of CannEpil and CogniCann in US hospitals, subject to Global Ethics Committee approval
  • Bio-pharmaceutical distributor AMC will oversee importing, warehousing and marketing of the products and will ultimately seek FDA sign-off

MGC Pharma (MGC) has penned its first dedicated agreement in the US for the supply of pharmaceutical products to AMC Holdings (AMC).


Based in Europe, MGC is a bio-pharmaceutical developer and producer specialising in phytocannabinoid-derived medicines.


Under an initial three-year deal, the company will supply its products, including CannEpil, CogniCann and CimetrA, to bio-pharmaceutical distributor AMC — in orders worth a minimum of US$24 million (A$33.1 million).


To this end, AMC is required to place its first year's order within five days of being granted a national clinical trial number (NCTN).


The minimum spend on this order must total US$750,000 (A$1.03 million) and be paid in advance, followed by an irrevocable US$2.25 million (A$3.11 million) letter of credit.


As part of the agreement, AMC will assume responsibility for co-ordinating the clinical trial process in the US, including the recruitment of patients, on terms agreed by MGC Pharma.


Further, AMC will undertake all marketing activities for the products in the jurisdiction and manage importing and warehousing.


In a statement this morning, MGC said the deal was an important step forward in expediting US clinical trials for CannEpil and CogniCann.


Accordingly, granting of the NCTN by the end of September will enable hospitals across the country to participate in ongoing trials, approved by the Global Ethics Committee.


MGC's co-founder and managing director Roby Zomer said the agreement was an important milestone for the company and provided MGC access to the largest healthcare market in the world.


"This agreement provides MGC Pharma with a pipeline for strong revenue streams over the next three years, with the possibility of larger revenues to follow, and the opportunity to be at the forefront of phytomedicines in the US," he said.


Looking ahead, US-based clinical sites will be added to the global clinical trial program for CimetrA to initiate the US registration process for the product.


Meanwhile, the supply partners will seek approval to distribute and issue CannEpil to patients via Florida's Early Access Scheme.


Read the Full Article on The Market Herald here

MXC RECRUITS FIRST PATIENT FOR PHASE III

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MGC Pharma (ASX:MXC) recruits first patient for phase III CimetrA trial

Health Care

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

  • MGC Pharma (MXC) recruits its first patient for the phase three CimetrA clinical trial in Israel
  • MXC is testing the treatment's safety and efficacy on patients with moderate forms of COVID-19
  • A total of 252 patients will take place in the trial which will provide additional data for CimetrA's Investigational Medicinal Product (IMP) status
  • MXC says the data from the trial should meet the European Medical Agency's qualification as well

MGC Pharma (MXC) has recruited its first patient for the phase three CimetrA clinical trial at the Rambam Medical Centre in Israel.


The trial will test the treatment's safety and efficacy on hospitalised patients with moderate forms of COVID-19.


It'll also test how the treatment works when combined with a new drug carrier, which should deliver natural ingredients more effectively in higher concentrations.


A total of 252 patients will take place in the study in Israel and the additional data from the trial will be used to advance CimetrA's Investigational Medicinal Product (IMP) status.


The treatment has already completed IMP production, validation, and ethics committee approval and MXC wants the data from this trial to meet the European Medicines Agency’s (EMA) qualification.


Explaining the significance of the first patient, MGC Pharma co-founder and Managing Director Roby Zomer said it meant the trial could now commence.


Mr Zomer added the company was excited to get a better understanding of the valid claims that can be made for CimetrA.


"The commencement of the phase three clinical trial is a milestone achievement for both MGC Pharma and the medicinal cannabis industry," Mr Zomer said.


"Testing CimetrATM as an IMP will have great implications for those suffering with COVID-19 and ensure the risk of healthcare systems becoming overwhelmed is minimised."


Read the Full Article on The Market Herald here

MXC SUBMITS PATENT APPLICATION IN EUROPE

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MGC Pharmaceuticals (ASX:MXC) submits patent application in Europe

Health Care

ASX:MXC
MGC Pharmaceuticals (ASX:MXC) submits patent application in Europe

  • MGC Pharmaceuticals (MXC) was down as much as 11.3 per cent today despite submitting a CimetrA application to the European IP Office
  • The patent application was accepted by the Slovenian Intellectual Property Office (SIPO) on May 5
  • MGC Pharmaca can now file subsequent applications for CimetrA in other jurisdictions such as the EU and the World Intellectual Property Organisation
  • CimetrA, previously known as ArtemiC, is an immune-modulation formula that is used to treat anti-inflammatory illnesses
  • MGC Pharma is now progressing towards its phase three clinical trial for CimetrA to demonstrate the full efficacy of the treatment in variants of COVID-19

MGC Pharmaceuticals (MXC) was down as much as 11.3 per cent today despite submitting a CimetrA application to the European IP Office.


The patent application was accepted by the Slovenian Intellectual Property Office (SIPO) on May 5 which was the priority date for the patent.


This has given MGC Pharma priority to file subsequent applications for CimetrA in other jurisdictions such as the European Union and the World Intellectual Property Organisation (WIPO).


CimetrA, previously known as ArtemiC, is an immune-modulation formula that is used to treat anti-inflammatory illnesses.


It is made up of artemisinin, a drug made from a fern-like plant that is used against malaria, and curcumin, a chemical that aids in anti-inflammatory and antioxidants.


It is then mixed with vitamin C and boswellia serrata, a herbal extract used to treat inflammatory illnesses.


MGC Pharma is now progressing towards its phase three clinical trial for CimetrA to demonstrate the full efficacy of the treatment in variants of COVID-19.


"We are delighted that the SIPO recognises the unique formulation of CimetrA, something we believe will be transformational in the treatment of COVID-19 as well as numerous other conditions," Managing Director and Co-Founder Roby Zomer said.


"The submission of this patent application is an important next step in bringing CimetrA to market in multiple jurisdictions and ultimately treating people and patients on a global scale," he added.


Read the Full Article on The Market Herald here

MXC RECEIVES ETHICS APPROVAL

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MGC Pharmaceuticals (ASX:MXC) receives ethics approval for phase three CimetrA trial

ASX:MXC    

MGC Pharmaceuticals (ASX:MXC) receives ethics approval for phase three CimetrA trial


  • MGC Pharmaceuticals (MXC) has been granted ethics committee approval to undertake a phase three clinical trial for CimetrA
  • Now that phase three trials are set to begin, the product has had its classification change from a food supplement to an investigational medicinal product
  • As a result, the name has changed from ArtemiC to CimetrA, however, ArtemiC will remain as a food supplement
  • ArtemiC is MGC's immune-modulation formula that is made up of vitamin C and herbal extracts used to treat anti-inflammatory illnesses
  • This phase three trial will test CimetrA on 252 moderate COVID-19 infected patients to evaluate the safety and efficacy
  • The trial is set to begin in early April, wrap up during September with interim results expected to be received and published by June
  • Shares in MGC Pharma are up 5.33 per cent and are trading at 7.9 cents




MGC Pharmaceuticals (MXC) has been granted ethics committee approval to undertake a phase three clinical trial for CimetrA.


The approval was granted by Rambam Health Care Campus and Nazareth Hospital in Israel and comes after the successful phase two trial announced in December.


Now that phase three trials are set to begin, the product has had its classification change from a food supplement to an investigational medicinal product (IMP).


As a result, the name has changed from ArtemiC to CimetrA, however, ArtemiC will remain as a food supplement.


ArtemiC is made up of artemisinin, a drug made from a fern-like plant that is used against malaria, and curcumin, a chemical that aids in anti-inflammatory and antioxidants.


It is then mixed with vitamin C and boswellia serrata, a herbal extract used to treat inflammatory illnesses.


This phase three trial will test CimetrA on moderate COVID-19 infected patients to evaluate the safety and efficacy.


All up, 252 COVID-19 patients will be trialled across clinical sites in Brazil and Israel with each patient trialled for 28 days.

The trial is set to begin in early April, wrap up during September with interim results expected to be received and published by June.


"This is a very significant milestone for the company being the first phase three clinical trial of CimetrA," Co-Founder and Managing Director Roby Zomer said.


"ArtemiC has already proven to be a very successful product for the company and we look forward to replicating this with CimetrA as an IMP and improve outcomes for COVID-19 patients," he added.



Read the full article on The Market Herald here.

MXC TO EXPLORE NANOTECHNOLOGY

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MGC Pharmaceuticals (ASX:MXC) to explore nanotechnology in treating glioblastoma

Health Care

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

Founders, Nativ Segev (left) and Roby Zomer (right)

  • MGC Pharmaceuticals (MXC) has expanded its research study to explore the use of nanotechnology for treating glioblastoma multiforme 
  • The study is being conducted with the National Institute of Biology and the University Medical Centre in Slovenia
  • The parties will test the effect of two cannabinoid formulations on the tumour cells when delivered through a nano-delivery platform
  • If results show the combined formulations can eliminate the glioblastoma cells, which could potentially lead to a major breakthrough for brain cancer
  • MGC Pharma and its partners will now begin testing the formulations on tumour cells and will recruit new patients with grade four glioblastoma



MGC Pharmaceuticals (MXC) has expanded its pre-clinical research program to explore the use of nanotechnology for treating glioblastoma multiforme (GBM).


GBM is an aggressive type of brain tumour that spreads rapidly and has a low survival rate of just 6 per cent four years on from a patient's diagnosis.


The original in-vitro program was completed in November last year and tested two cannabinoid formulations on GBM tissues. 


The research showed that cannabidiol (CBD) slowed the tumour's viability, while cannabigerol (CBG) impairs the tumour's progression. Moreover, CBG can destroy glioblastoma stem cells, which are the root of cancer development and currently resistant to various treatments.


The expanded study is being conducted alongside the National Institute of Biology (NIB) and the Neurosurgery Department at the University Medical Centre in Ljubljana, Slovenia.


MGC Pharma and its partners will test the effect of both formulations on the glioblastoma tumour cells when delivered through the self nano-emulsifying drug delivery (SNEDD) system. 


Nanoparticles are believed to improve the bioavailability and the blood-to-brain barrier issues, which are being optimised using SNEDD — an emerging strategy to tackle oral drug delivery issues.


If results successfully show the combination of the CBD and CBG formulations can eliminate the tumour cells, this could potentially lead to a major breakthrough for brain cancer.


A successful CBD-CBG formula could reduce the need for formulations with tetrahydrocannabinol (THC). THC is the main psychoactive compound in a cannabinoid, which can be harmful to GBM patients. 


"Importantly, we are now moving forward with our next stage research which will now incorporate a new and innovative drug delivery systems. This is a very significant step for our research program and IP, as we look to transform and advance the way brain tumours are treated," Co-founder and Managing Director Roby Zomer said.


MGC Pharma and NIB will now commence testing of its CBD and CBG in nano-emulsifying formulations on GBM tissue. New patients with grade four glioblastoma will shortly be recruited and divided into subcategories so they can receive a personalised treatment plan.



Read the full article on The Market Herald here.

MXC PHASE II TRIALS TRACKING WELL

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MGC Pharmaceutical’s (ASX:MXC) ArtemiC combats COVID-19

Health Care

ASX:MXC MCAP $55.57M

·  MGC Pharmaceuticals (MGC) has concluded phase two clinical trials of anti-inflammatory drug ArtemiC, confirming the drug's ability to combat COVID-19

·  The clinical trials found ArtemiC improves clinical recovery and prevents further deterioration in moderate COVID-19 cases

·  All patients treated in the double-blind trials recovered within 15 days of follow up 

·  MGC says it plans to develop and commence a phase three clinical trial with up to 250 patients in the first half of 2021

·  The ASX-lister can seek registration of ArtemiC and commence production and sale as a supplement should the final trial conclude successfully 

·  MGC shares have risen a healthy 9.38 per cent on the back of the news, trading at 3.5 cents each 

MGC Pharmaceuticals has concluded phase two clinical trials of anti-inflammatory drug ArtemiC, confirming the drug's ability to combat COVID-19.

The clinical trials found ArtemiC improves clinical recovery and prevents further deterioration in moderate COVID-19 cases compared to a placebo. 

None of the patients in the treatment group required additional oxygen, mechanical ventilation or admission to intensive care, in comparison with 23.4 per cent of the placebo group requiring further assistance. 

All patients treated in the double-blind trials recovered within 15 days of follow up.

A spokesperson for MGC says the findings open up new potential market opportunities in treating a wide range of diseases and immune conditions. 

The ArtemiC trial also met all the requirements for a U.S. Food and Drug Administration (FDA) COVID-19 treatment study.

Read the full story on The Market Herald

MXC TO LIST ON LONDON STOCK EXCHANGE

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MGC Pharmaceuticals (ASX:MXC) to list on London Stock Exchange

Health Care

ASX:MXC    


  • In an effort to broaden its international profile, MGC Pharmaceuticals (MXC) says it's in the final stages of listing its shares on the London Stock Exchange
  • The company's shares will be listed on the standard segment of the LSE's Main Market, with expected completion in February this year
  • London-based equity broker Turner Pope has been appointed to assist in raising £5 million (roughly A$8.95 million) through institutional investors in the U.K.
  • The proceeds will be used to fund various clinical trials, increase product distribution in new markets and complete the construction of manufacturing facilities in Malta
  • MGC Pharmaceuticals is currently in a trading halt expected to last until Thursday, February 4, and last traded at a price of 2.6 cents per share on February 
    In an effort to broaden its international profile, MGC Pharmaceuticals (MXC) says it's in the final stages of listing its shares on the London Stock Exchange.


The Europe-based company operates under a "Nature to Medicine" strategy within the phytocannabinoid-derived and plant-derived medicines industry, with products on the market that treat two common medical conditions — epilepsy and dementia — and others in its development pipeline.


A dual-listing on both the ASX and the LSE is expected to provide access to capital markets in the U.K., as well as exposure to new institutional and sophisticated investors.


MGC Pharmaceuticals anticipates being one of the first cannabis-related companies to list on the standard segment of the LSE's Main Market, providing investors with an attractive investment opportunity in the rapidly growing medicinal cannabis industry.


As part of the listing process, which is expected to be completed in February this year, London-based equity broker Turner Pope has been appointed to assist in raising £5 million (roughly A$8.95 million) through institutional investors in the U.K.


Full details of the capital raising will be unveiled over the next few days, and the proceeds will be used to fund a Phase 3 clinical trial of ArtemiC, planned for the first half of this year, and a Phase 2b trial of CannEpil.


A portion of the financing will also be used to increase the company's product distribution in new markets, including Brazil and several European countries, along with covering registration costs for ArtemiC in Russia, the Middle East and Europe, and the completion of a proposed manufacturing facility in Malta.


"I am delighted to announce we are moving forward with the admission of MGC Pharmaceuticals to the main market of the London Stock Exchange, which will position the company for the next phase of its growth and development," said Roby Zomer, Managing Director of MGC Pharmaceuticals.


"Our listing is the culmination of the last six years of hard work, positioning MGC Pharma as a leader in the emerging phytocannabinoid pharmaceutical sector," he added.


Read the full article on The Market Herald here.

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 

MXC 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.

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