MGC Pharmaceuticals Limited Approval to Develop and Research with Psilocybin (1033V)
April 03 2023 - 2:00AM
UK Regulatory
TIDMMXC
RNS Number : 1033V
MGC Pharmaceuticals Limited
03 April 2023
MGC Pharmaceuticals Ltd.
MGC Pharma receive permission to Develop and Research new
medicines with Psilocybin
03 April 2023
ASX, LSE: MXC
Highlights:
-- MGC Pharma have received permission from The Slovenian
Ministry of Health to undergo research with Psilocybin.
-- Psilocybin is a psychedelic compound that naturally occurs in a variety of fungi.
-- MGC Pharma have permission to develop and research analytical
methods, to research and develop new drug formulations and research
of properties of the drug.
-- MGC Pharma can now provide development and compounding
services to companies dealing with Psilocybin and wish to have a
medicine in the market.
MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') a
European based pharmaceutical company specialising in the
production and development of plant inspired medicines, has
received permission from the Slovenian Ministry of Health to
undergo scientific research development on the psychedelic compound
Psilocybin.
The permission granted covers the development of analytical
methods, research of physical-chemical properties of Psilocybin and
development of pharmaceutical forms that would be suitable for
administration.
Psilocybin is a naturally occurring psychedelic compound found
in a variety of fungi and mushrooms which shows great potential in
many serious medical conditions.
MGC Pharma is one of the first companies to obtain permission to
undertake pharmaceutical research on Psilocybin and the first in
Slovenia. The company plans to work with other pharmaceutical
businesses to collaborate and provide research capabilities for
understanding of the properties of Psilocybin.
This approval will allow MGC to take the Psychedelic industry
one step closer to the pharmaceutical industry by helping to
develop and research new medicines based on Psilocybin, and for MGC
to provide such services to the growing industry of
Psychedelics.
Roby Zomer, Managing Director and CEO of MGC Pharmaceuticals,
commented : "We are pleased to have obtained permission from the
Slovenian Ministry of Health to undertake pharmaceutical research
with Psilocybin, which puts the Company at the forefront of
experimental, pharmaceutical research. We are extremely grateful to
the Slovenian Health Ministry for enabling us to utilise our
research expertise in this area.
"Whilst we continue to focus on our core development pipeline of
CimetrA(R) and CannEpil(R), we look forward to working with other
pharmaceutical partners to establish the properties of Psilocybin
and demonstrate how it could be used to develop medicines to treat
people with debilitating conditions."
--Ends--
Authorised for release by the board of directors, for further
information please contact:
MGC Pharmaceuticals Ltd MGC Pharmaceuticals Ltd
Roby Zomer Arron Canicais & Rowan Harland
CEO & Managing Director Company Secretary
+61 8 6382 3390 +61 8 6382 3390
info@mgcpharma.co.uk info@mgcpharma.co.uk
UK Financial and Corporate UK PR Advisors
Advisor Tavistock
SW4 Partners Charles Vivian / Tim Pearson
Rupert Fane / Nilesh Patel +44 207 920 3150
+44 7810 056 104 mgcpharma@tavistock.co.uk
rupert@sw4partners.com / nilesh@sw4partners.com
About MGC Pharma
MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based
pharmaceutical company, focused on developing and supplying
accessible and ethically produced plant inspired medicines,
combining in-house research with innovative technologies, with the
goal of finding or producing treatments to for unmet medical
conditions.
The Company's founders and executives are key figures in the
global pharmaceuticals industry and the core business strategy is
to develop and supply high quality plant inspired medicines for the
growing demand in the medical markets in Europe, North America and
Australasia.
MGC Pharma has a robust development pipeline targeting two
widespread medical conditions and has further products under
development.
MGC Pharma has partnered with renowned institutions and academia
to optimise the development of targeted plant inspired medicines,
to be produced in the Company's EU-GMP Certified manufacturing
facilities.
MGC Pharma has a growing patient base in Australia, the UK,
Brazil and Ireland and has a global distribution footprint via an
extensive network of commercial partners meaning that it is poised
to supply the global market.
Follow us through our social media channels:
Twitter: @MGC_Pharma
Facebook: @mgcpharmaceuticals
LinkedIn: MGC Pharmaceuticals Ltd.
Instagram: @mgc_pharma
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