MGC Pharma now owns one of the most advanced cannabis production facilities in Europe
Special Report: Medical cannabis developer MGC Pharma has hit another milestone in its quest to bring innovative pharmaceutical grade medicinal cannabis products to the globe, securing a manufacturing licence for its European GMP cannabis production facility.
The awarding of this formal manufacturing licence signifies compliance with strict European quality standards for production and manufacturing of pharmaceutical grade products and the handling of cannabis-based medicines.
The ASX-traded medical cannabis biopharma company (ASX:MXC) has gained the licence in another milestone in solidifying the pipeline for its global seed to pharma goal.
The first product to emerge for patients from this pipeline is CannEpil™, a phytocannabinoid-based medication for the treatment of refractory epilepsy, which will soon be in patient’s hands in Australia through the Authorised Prescriber Scheme.
This manufacturing licence means MGC will able to start full-scale manufacturing for the CannEpil™ product. It also permits MGC to produce additional medicinal cannabis based pharmaceutical products for use in the clinical studies, research pipelines and product development.
These products will be distributed into the global market and target the increasing demand for medicinal cannabis pharmaceutical products.
It also takes the company one step ahead into a biopharma company and puts CannEpil on the path to be a registered medicine.
This licence is significant both because of its scarcity in the medicinal cannabis industry and because of the difficulty of achieving the levels of detail and quality assurance with the consistency demanded by EU authorities and euGMP guide lines.
MGC will now have a first mover position in a segment of the cannabis industry that is rapidly growing in size and importance, establishing it as one of the few companies in the world with a true “Seed to Pharma” pipeline within the company.
The granting of the licence means MGC Pharma has shown it complies with strict product controls and practice (GMP) required by European authorities and means the company has one of the most advanced production facilities in the EU.
“We are delighted to have been awarded our formal manufacturing licence to commence production at our cutting edge European Facility,” managing director Roby Zomer said.
“This is one more step in our Seed to Pharma strategy to become a leading BioPharma company with formulated medicines in the global market.”
This special report is brought to you by MGC Pharma.
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice.
If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.