MGC Pharmaceuticals (ASX: MXC) is an Australia-headquartered specialist medical cannabis biopharma company, which has most of its operations based in Europe. Management has many years of technical, clinical and commercial experience in the medical cannabis industry.
MGC Pharmaceuticals is developing cannabis-based pharmaceutical products, initially in Australia and Europe. It is already growing medicinal cannabis crops in the Czech Republic and has established in Slovenia one of the few fully GMP-certified resin extraction and separation plants in Europe. It plans to establish larger-scale operations in Malta under a contract awarded by the Maltese government in April 2018. It imported the first shipments of GMP-certified CannEpil into Australia and the UK in December 2018 and May 2019, respectively, for prescription by specialist doctors. The company intends to develop CannEpil and CogniCann as registered pharmaceutical treatments for refractory epilepsy, and to improve quality of life in dementia patients, respectively. A Phase II study of CogniCann is underway in Australia. In April, MGC signed a marketing and distribution agreement with Chinese e-commerce platform YuShop Global to sell its CBD and hemp-enhanced Nutraceuticals in China; a market test campaign is underway.
Increasing acceptance and regulatory approvals in many countries have made medicinal cannabis a fast-growing industry. Cannabinoids have generated promising data in many indications and are attracting considerable interest.