Epilepsy and dementia sufferers across the globe to benefit from new MGC Pharma agreements
Health & Biotech
Health & Biotech
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Special Report: New distribution agreements for two of MGC Pharma’s medicinal cannabis drugs will greatly increase access for patients.
MGC Pharmaceuticals (ASX:MXC) has signed two distribution and logistics agreements with highly-regarded specialist medicinal cannabis companies — and it’s set to benefit patients both in Australia and the United Kingdom.
Health House International, a wholesaler distributor of medicinal cannabis in Australia and the UK, and Cannvalate, a Melbourne-based med-cann company with operations across Australia and soon New Zealand and the UK, will purchase MGC products.
Health House will distribute them to its network of pharmacies across Australia while Cannvalate will supply MGC products to patients prescribed within their clinic network.
Health House founder and CEO Paul Mavor said he was excited to be distributing MGC products. “They represent cutting edge technology in this industry that is backed up by ongoing research,” he said.
“MGC has a great selection of products with different formulations targeting different medical conditions that prescribers will have confidence in.”
MGC has already received purchase orders under the agreements, which cover its proprietary cannabinoid treatments, including CannEpil for the treatment of epilepsy and CogniCann for the treatment of dementia and Alzheimer’s.
The agreements also include two additional MGC formulations: MXP100, which is the company’s only straight CBD formulation and mainly used for neurological conditions and people who wish to avoid the psychoactive elements of THC, and MXC 1:1, a one-to-one mix of CBD and THC mainly used for the treatment of chronic pain.
The deals have also been left open to include any additional MGC formulations that may be developed for commercial use. All four of the formulations have recently been approved by the Therapeutic Goods Administration (TGA) for supply in either clinical trials or under the special access scheme.
MGC recently outlined its strategy for 2019, opening the doors to investors to reveal its shift to become a pure biopharmaceuticals company. It operates two divisions: seed-to-pharmacy manufacturing and research and development.
“These agreements endorse our phytocannabinoid based product range, significantly expand our distribution in Australia and New Zealand and demonstrate that we are at the forefront of our industry,” co-founder and managing director Roby Zomer said.
“These are exciting times for the Company; the research and development that we have carried out in formulating our range is obviously proving successful.
“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.”