TIDMMXC
RNS Number : 2695F
MGC Pharmaceuticals Limited
07 July 2023
AMC Places another US$1M Order of ArtemiC(TM)
for the US market
7 July 2023
ASX Code: MXC
LSE Code: MXC
MGC Pharmaceuticals Ltd ("MGC Pharma", "MGC" or the "Company") a
European based pharmaceutical company specialising in the
production and development of plant derived medicines, is delighted
to announce that it has received an order for US$1m from AMC Pharma
("AMC") to produce ArtemiC(TM) (the Over the Counter ("OTC")
version of CimetrA(R)).
This order comes alongside AMC's new supply agreement to
distribute to over 100 Holistic and Wellness Chiropractic offices
in California, and Florida. This represents the start of a
substantial ramp up of sales for ArtemiC(TM) with increasing
distribution across the US.
The Company has received a second purchase order from AMC for
US$1m. This represents total orders to date of over 100,000 units
of ArtemiC(TM) By AMC. The order is secured with an immediate down
payment of US$150,000.
In March 2023, MGC Pharma announced that ArtemiC(TM) had been
listed by the US FDA as an OTC Unlicensed Drug on the National Drug
Code Database[1].
Roby Zomer, CEO and Managing Director of MGC Pharmaceuticals,
commented: "This order from AMC validates ArtemiC(TM) for the US
market and demonstrates our ability to supply an FDA authorised
product in a world leading market. This order, combined with AMC's
new supply agreement to distribute across the US, gives us
confidence for the future growth of MGC."
About ArtemiC(TM) (the OTC version of CimetrA (R) ).
ArtemiC(TM) is a clinically tested all-natural product.
Developed by MGC Pharma, incorporates partner Swiss PharmaCan AG
and GraftBio(R) SNEDD technology, which increases the
bioavailability of ArtemiC(TM)'s active ingredients at cell
level.
ArtemiC(TM) Phase II Clinical Trial undertaken in 2020,
demonstrated a range of benefits for patients suffering from
moderate COVID-19[2]. Subsequent trials have proven ArtemiC(TM) to
be an effective anti-inflammatory across a wide range of chronic
diseases. ArtemiC(TM) can be found on the FDA National Drug Code
Directory under the code: 83278.
In a Phase II double-blind, placebo-controlled Clinical Trial,
ArtemiC(TM) demonstrated the following advantages:
-- A full safety and efficacy profile with no drug-adverse events.
-- The ability to prevent deterioration of the Proinflammatory
reaction in patients and achieve faster clinical improvement.
-- The ability to assist in reducing the pressure on the
healthcare system and associated support, coping with hospitalised
patients.
-- The versatility to be used in community setting as well as in hospitals.
-Ends-
Authorised for release by the Managing Director, for further
information please contact:
MGC Pharmaceuticals Ltd MGC Pharmaceuticals Ltd
Roby Zomer Arron Canicais / Rowan Harland
CEO & Managing Director Joint Company Secretaries
+61 8 6555 2950 +61 8 6555 2950
info@mgcpharma.co.uk info@mgcpharma.co.uk
UK Brokers UK Brokers
Peterhouse Capital Oberon Capital
Charles Goodfellow / Lucy Williams Aimee McCusker / Adam Pollock
/ Duncan Vasey +44 203 179 5300
+44 207 469 0930 aimeemccusker@oberoninvestments.com
cg@peterhousecap.com / lw@peterhousecap.com adampollock@oberoninvestments.com
UK IR/PR Advisers
IFC Advisory
Graham Herring / Tim Metcalfe
/ Zach Cohen
+44 203 934 6630
mgcpharma@investor-focus.co.uk
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.
About AMC
AMC Holdings, Inc. is a Special Purpose Vehicle founded by
experienced US healthcare professionals and former federal US
government officials to facilitate the research and growth of
phyto-medicines in the USA and sees MGC Pharma as a leader in the
sector for the domestic market.
AMC is a privately owned US based distribution and marketing
company which seeks to bring cutting edge bio-pharmaceutical
products currently in clinical trials, or in commercial production
overseas, into the US healthcare marketplace. AMC was founded by
experienced US healthcare professionals and former federal
government officials to arrange for leading US researchers,
academic institutions, and physicians to join existing clinical
trials abroad, and establish clinical trials for promising
bio-pharmaceutical products that meet three key criteria:
-- Address disease management for pressing healthcare needs that
have proven intractable and expensive with existing treatments or
protocols;
-- Offer botanical or bio-pharmaceutical solutions where none
exist, or as alternatives to existing medications with negative
side effects affecting patients' quality of life; and
-- Offer the prospect of expanding access to novel treatments
with lower cost alternatives to existing drugs or protocols.
Follow us through our social media channels:
LinkedIn: MGC Pharmaceuticals Ltd.
Twitter: @MGC_Pharma
Facebook: @mgcpharmaceuticals
Instagram: @mgc_pharma
[1] Refer to announcement dated 21 March 2023
[2] Refer to announcement dated 15 December 2020
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END
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