2 May 2019
ASX Code: MXC
New Distribution Agreements signed for CannEpilTM, CogniCannTM, MXP100 and MXC1:1 products in Australia
•New agreements signed with two leading Australian medicinal cannabis distribution and logistics specialists, Health House International Pty Ltd (‘Health House International’) and Cannvalate Pty Ltd (‘Cannvalate’)
•Agreements cover MGC Pharma’s proprietary
•Agreement with Cannvalate includes partnering for Clinical Research at the Medicinal Cannabis Research Collaboration in Melbourne to increase the body of literature providing further clinical support for MGC Pharma’s cannabinoid pharmaceuticals
•Now registered as the official sponsor of its own medicinal cannabis products in Australia, MGC Pharma can take advantage of multiple distribution and logistics partners to make its medicinal cannabis products available to patients under the Special Access Scheme, Authorised Prescriber Scheme or for use in clinical trials.
•The Therapeutic Goods Administration (TGA) has recently given MGC Pharma permission to import MXP100 and MXC1:1 into Australia for supply either in a clinical trial or under the Special Access Scheme.
MGC Pharmaceuticals Ltd (ASX: MXC, “MGC Pharma” or “the Company”) is pleased to announce that it has signed two strategic supply agreements with Australian specialist medicinal cannabis distribution and logistics companies, Health House International and Cannvalate.
Health House International is an
Cannvalate is Australia’s largest network of cannabis prescribers and dispensaries (1,000+ doctors and 600+ pharmacies) allowing Licensed Producers immediate and
Cannvalate also coordinates one of Australia’s largest medicinal cannabis clinical research facilities and are proudly partnering with MGC Pharma on several clinical trials with this product range to increase the confidence of the prescribing medical community.
Collectively, the two agreements facilitate the availability of MGC Pharma’s
Terms under the Agreements
Under both the distribution agreement with Health House International and the wholesale/logistics agreement with Cannvalate, the product range includes CannEpilTM, CogniCannTM, MXP100 and MXC1:1 Australia wide. The agreements are also left open to include additional MGC Pharma formulations.
The agreements will ensure the immediate supply and availability of CannEpilTM and CogniCannTM in Australia during 2019 to their existing customer networks, and the additional MGC Pharma formulations following MGC Pharma now having received permission from the Therapeutic Goods Administration (‘TGA’) to import these products for supply for use in either a Clinical Trial or under the Special Access Scheme. These agreements are
MGC Pharma increases formulations for distribution in Australia
Following the recent import permission from the TGA, MGC Pharma will also make two more of its formulations available for supply for clinical trials or under the Special Access Scheme, being MXP100, mainly used for neurological conditions but also for children and people who wish to avoid the psychoactive side effects of THC, and MXC1:1, for relief from symptoms of spasticity and certain types of inflammatory pain. The Company now has CannEpilTM, CogniCannTM, MXP100 and MXC1:1 available in Australia for use either in clinical trials, by an Authorised Prescriber, or under the Special Access Scheme.
The MXP100 and MXC1:1 formulations have been developed following demand from medical professionals in Australia. MXP100 is the Company’s only straight CBD formulation, and therefore falls into Schedule 4 under the Standard for the Uniform Scheduling of Medicines and Poisons (SUSMP). MXC1:1 contains 25 mg/mL of both THC and CBD.
These agreements represent the establishment of the key distribution network for CannEpilTM, CogniCannTM, MXP100 and MXC1:1 to the Australian market, and future pharmaceutical products for the Company. The initial distribution of CannEpilTM during Q1 2019 was slower than anticipated due to Australian regulatory and compliance matters which have now been addressed and resolved by the Company over the past few months with the Company’s lawyers and new distributors.
“These agreements facilitate the availability of our medicinal cannabis products in Australia and should lead to more patients in need being prescribed our formulations through the appropriate pathways, demonstrating that we are at the forefront of our industry. The permission by the TGA for MGC Pharma to supply two of our additional formulations in Australia further facilitates access to a variety of medicinal cannabis products for patients who need them.
"These are exciting times for the Company; with the research and development that we have carried out in formulating our range is obviously proving successful, and commercialising this. We have one of the world’s most experienced research teams who continue to develop new products. In tandem with our vertically integrated seed to pharma strategy we are building a truly international business that is setting the standards in the medical cannabis space.”
Health House International Founder and CEO, pharmacist Paul Mavor commented:
“I am excited to be distributing MGC medicinal cannabis products. They represent cutting edge technology in this industry that is backed up by ongoing research. MGC Pharma’s CogniCann product is currently being investigated for use in treating the symptoms of dementia and Alzheimer’s. This disease is a massive problem to society both financially and emotionally and currently we have no other pharmaceutical options. MGC Pharma has a great selection of products with different formulations targeting different medical conditions that may be alleviated with medicinal cannabis."
“I’m thrilled to be working with MGC Pharma and their
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