MGC Pharma share price soars after CannEpil+ scores UK-first import deal
Health & Biotech
Health & Biotech
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Europe-based biotech MGC Pharma has achieved a major milestone in its treatment of refractory epilepsy with CannEpil+ approved for import in the UK.
MGC Pharma (ASX:MXC) has been granted a landmark UK import permit for its drug CannEpil+ to treat refractory epilepsy by the Medicines and Healthcare products Regulatory Agency via its UK distribution and clinical access partner Elite Pharmaco.
It is the first time that an epilepsy treatment currently in a clinical trial process and containing THC has been approved by the authorities in the UK for import.
CannEpil+ will be made available for free on compassionate grounds to 10 patients for six months, whose treatment will be monitored as part of an observational trial using a data collection app, provided by Alta Flora.
The app will provide real time data on the efficacy of CannEpil+ to the regulatory bodies, and doctors monitoring its effectiveness as a treatment for refractory epilepsy, which means traditional seizure medicines no longer work.
One of the most common serious neurological conditions, epilepsy affects approximately 600,000 people in the UK, and around 50 million people worldwide. Approximately 33% of adults and 20-25% of children sufferers have refractory epilepsy.
Just last week members of the British Parliament held a debate in the House of Commons about the use of medicinal cannabis in which MGC Pharma and CannEpil+ was mentioned.
The approval to import CannEpil+ into the UK is 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, as well as its safety.
Once the patients have begun their treatment, CannEpil+ will undergo an observational trial with data being entered into an app designed to establish a central platform to monitor the safety of treatment in patients globally.
MGC Pharma specialises in the production and development of phytocannabinoid-derived medicines. CannEpil+ is Biosimilar effect-identical product of CannEpil, manufactured under strict EU-GMP conditions and can be provided to patients in countries which allow cannabis-based medical products.
MGC Pharma can offer CannEpil+ at more affordable prices to patients globally as the company moves through the clinical trial pipeline.
It’s been a positive year of growth for the company, with record cumulative sales of phytocannabinoid products in FY21 with 12,457 units sold worldwide totalling around $2 million in revenue.
At the time of writing the MGC pharma share price was up 8.33% to 6.5 cents.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.