MGC Pharma adds expertise to its board as it progresses toward becoming a major cannabis biopharma
Health & Biotech
Health & Biotech
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Special Report: MGC Pharma has welcomed a European corporate and pharmaceutical industry veteran as it reaffirms its commitment to become a leading European cannabis-focused bio-pharma.
This morning, the company (ASX:MXC) announced Dr Stephen Parker as Non-Executive Director.
Dr Parker brings more than 30 years’ experience to the MXC board, including an extensive network of connections within the pharmaceutical and investment industries.
His experience has primarily focused on the pharmaceutical and biotechnology sectors in the UK, Europe and North America, which should make for a good fit at MXC, which is working toward becoming a leading bio-pharma company within the medicinal cannabis sector, supplying treatments for patients in those same regions.
Dr Parker holds a number of board positions at top UK listed Biopharma companies including AIM-listed oncology therapeutics company Sareum Holdings (LON: SAR) and RNA-therapeutics focussed company, Silence Therapeutics Plc (LON: SLN).
Dr Parker’s appointment is well-aligned with MXC’s strategy to develop and expand its European operations.
MGC has established licensed growing operations in the Czech Republic and Slovenia, a fully GMP certified resin extraction plant in Slovenia, and was the first company approval from the Maltese government to build a local medical cannabis cultivation and production facility.
MGC co-founder and Managing Director Roby Zomer says the addition of Dr Parker’s expertise will also enable the company to continue building upon its ‘seed-to-pharma’ strategy and expanding its pharma product pipeline.
“His experience in London with various investment banks and pioneering pharmaceutical companies has given Stephen a unique and focussed skill set which will be an asset to us. The sale of MGC Derma and Stephen’s appointment have coincided perfectly for us to progress to the next stage of development as a biopharma company,” said Mr Zomer.
MGC’s current phytomedicine range includes CannEpil, an orally-administered medical cannabis treatment for drug-resistant (or refractory) epilepsy, and CogniCann, a treatment to improve quality of life in dementia patients.
Both products are certified as Investigational Medical Products in the EU and emerge from MGC’s euGMP formulation facility.
Recently, the company also received formal approval from the Therapeutic Goods Administration (TGA) to initiate its Phase IIb clinical trial testing CogniCann in dementia and Alzheimer’s patients with the University of Notre Dame in Western Australia.
It can now start recruiting patients, and the trial is due to start before July.
“I am delighted to join the MXC team and am looking forward to playing an active role in the development and expansion of MXC’s international operations. I have worked within the pharmaceutical investment world for many years and MXC is a standout company with fantastic growth potential,” said Dr Parker.