MGC’s COVID-19 treatment spray takes big step forward in North America
Health & Biotech
Health & Biotech
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The ASX-listed bio-pharma company’s Canadian distribution partner — which it collaborated with to create an oral spray statistically shown to improve the recovery of patients with COVID-19 — has now applied for additional product licences in Canada.
Glow LifeTech, the Canadian distribution partner of MGC Pharmaceuticals’ (ASX:MXC) natural anti-inflammatory ArtemiC spray product, has submitted an application to Health Canada to obtain Natural Health Product (NHP) licences.
MGC shares rose by as much as 9 per cent in intraday trade following the announcement, which comes in the wake of the double-blind, placebo-controlled phase II clinical trials in December which showed ArtemiC statistically significantly improved the recovery of COVID-19 patients against a placebo group.
In that trial, 100pc of patients treated with ArtemiC met the primary endpoint and fully recovered within 15 days, without the need for added oxygen, mechanical ventilation or intensive care.
In the placebo group, 23.4pc of patients required further assistance.
The company said the trial of the spray, which contains four natural active ingredients – artemisinin, curcumin, Boswellia serrata and vitamin C – delivered a full safety and efficacy profile, further supported by additional testing for toxicity and mechanism of action.
Speaking to Stockhead, MGC Pharma VP Business Development Ron Lipsky said the news amounted to further grounds of support for the efficacy of the product, as demonstrated in the trial.
“Additionally, any additional territories or distribution deals for ArtemiC automatically add revenues for MGC, and the registration of a product such as this in Canada is a pretty major path to market,” he said.
“We are hoping to hear good news on the success of the registration process soon, so we can begin shipping ArtemiC Rescue and Support to North America as soon as possible.”
The application is currently under review by Health Canada. Under Canadian regulations, all NHPs must obtain premarket approval by Health Canada to ensure they are safe, effective and of high quality before they can be sold.
Once approved the product is issued a National Product Number.
Glow LifeTech has exclusive rights to market, sell and distribute ArtemiC in Canada, the US, Mexico and all Caribbean countries as a food supplement.
“The submission of this application to Health Canada by Glow is an important and exciting step in the treatment for symptoms of COVID-19 and will help more people suffering with symptoms of the disease,” MGC Pharma CEO Roby Zomer said.
“If granted, approval of Glow’s application will further highlight the robustness and effectiveness of our clinical trial process in relation to treatments that we are able to develop and bring to market.”
MGC is a Europe-based bio-pharma company focused on developing and supplying affordable, standardised phytocannabinoid-derived medicines to patients around the world.
The ArtemiC product was a collaborative development effort between MGC, Swiss PharmaCan AG and Glow, and is manufactured by MGC.
The formulation is delivered using the MyCell delivery system, which is said to increase bioavailability and effectiveness of natural active ingredients.
Phase III of clinical trials was approved in March.
At Stockhead, we tell it like it is. While MGC Pharmaceuticals is a Stockhead advertiser, it did not sponsor this article.