MGC Pharmaceuticals Limited Permission for first import of Psilocybin (6410H)
July 31 2023 - 2:00AM
UK Regulatory
TIDMMXC
RNS Number : 6410H
MGC Pharmaceuticals Limited
31 July 2023
MGC Pharma receives permission for first import of
Psilocybin
31 July 2023
ASX Code: MXC
LSE Code: MXC
Highlights :
-- First importation approval of Psilocybin Raw Mushrooms to MGC Slovenian Research
-- MGC will perform an analysis on the materials with a view to
further developing analytical and stability methods on the
Psilocybin mushrooms.
MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') a
European based pharmaceutical company specialising in the
production and development of plant derived medicines, is pleased
to announce it has been granted its first import permit for 200g of
Psilocybin Raw Mushroom material to its Slovenian research facility
from Psyence Group Inc's ('Psyence') Southern Africa production
site as part of the material transfer agreement signed between the
two companies.
Under the agreement, MGC Pharma will perform an analysis on the
materials with a view to assist Psyence in the development of new
psilocybin products to take to market, through its GMP-certified
research facility in Slovenia that was recently approved for
psilocybin compounding [1] .
Psyence is a life science biotechnology company listed on the
Canadian Securities Exchange (CSE:PSYG) and quoted on the OTCQB
(OTCQB:PSYGF), with a focus on natural psychedelics. Psyence works
with natural psilocybin products for the healing of psychological
trauma and its mental health consequences. Psyence operates out of
one of the world's first federally licensed commercial psilocybin
mushroom cultivation and production facilities in Southern Africa
and works to develop advanced natural psilocybin products for
clinical research and development.
Psilocybin is a naturally occurring psychedelic prodrug compound
produced by more than 200 species of fungi. Psyence focuses on
developing propriety natural psilocybin drug development and
treatment protocols with a focus on palliative care. The company
cultivates natural psilocybin mushrooms (Psilocybe Cubensis) at its
federally licensed facility.
Following MGC's successful audit of the Psyence production site
to ensure that it meets the standards necessary to proceed with the
export to MGC's European facilities, MGC has submitted and was
granted the import approval of psilocybin. Psyence will complete
the export on receipt of the export permit. Based on the analytical
findings and results of the technical evaluation of the first
delivery of 200g of Psilocybin Raw Mushrooms, MGC will develop
analytical methods and stability testing to meet ICH
guidelines.
Roby Zomer, CEO and Managing Director of MGC Pharmaceuticals,
commented: "We are delighted to receive the first import approval
of psilocybin under our collaboration with Psyence, which
constitutes our first entry into the psilocybin market. This
partnership marks a significant milestone for MGC Pharma following
our recent approval for psilocybin research in our Slovenian
facility and reinforces our commitment to growth and
innovation.
"By joining forces with Psyence, we are combining our respective
strengths and expertise to unlock new opportunities and deliver
exceptional value to our customers. This collaboration enhances our
ambitions to be one of the first companies to provide Psilocybin
treatments alongside our plant-based treatments."
Tony Budden, Director of Strategy and Head of Production at
Psyence added: " Psyence Production is pleased to collaborate with
MGC Pharma in the research and development of standardized
psilocybin containing products from our mushrooms. Having access to
MGC's EU-GMP R&D lab, expert team and resources will help
accelerate this process and we look forward to working
together."
-Ends-
Authorised for release by the board of directors, for further
information please contact:
MGC Pharmaceuticals Ltd MGC Pharmaceuticals Ltd
Roby Zomer Rowan Harland
CEO & Managing Director Company Secretary
+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 Adam Pollock / Aimee McCusker
/ +44 203 179 5300
Duncan Vasey adampollock@oberoninvestments.com
+44 207 469 0930 aimeemccusker@oberoninvestments.com
cg@peterhousecap.com /
lw@peterhousecap.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
M GC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European
based pharmaceutical company, focused on developing and supplying
accessible and ethically produced plant derived 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 derived 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 optimize the development of targeted plant derived 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
[1] Refer to announcement dated 3 April 2023
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