MGC Pharmaceuticals (ASX:MXC) has appointed a new member to its Board – bolstering its expertise and connections in the European capital markets and pharmaceutical industry.
Dr Stephen Parker has taken the position of non-executive director and brings over 30 years’ experience in the pharmaceutical industry and the finance sector.
He currently sits on the board of UK listed oncology therapeutics company Sareum Holdings plc and RNA-therapeutics focussed company, Silence Therapeutics Plc.
Importantly for MXC, he brings a strong network and understanding of the European market supporting its vision to become a ‘leading European biopharma company in the medical cannabis sector.’
Parker also boasts an impressive background in corporate finance and investment banking and MXC says he is regarded as ‘a leading corporate expert and strategic thinker.’
He has held senior roles within British merchant bank Baring Brothers, investment bank SBC Warburg Dillon Read and the global private equity firm Apax Partners.
Furthermore, he is an affiliate of the Institute of Chartered Accountants in England and Wales (ICAEW) and a Fellow of both the Royal Society of Chemistry and Royal Society of Medicine.
MXC hopes that his industry expertise and relationships will translate into a strengthened position in the European market and expedited access to the UK’s capital market, in particular the buoyant pharmaceuticals sector.
MXC is pursuing a ‘seed-to-pharma’ growth strategy that will see it control all aspects of the medical cannabis supply chain from cultivation of the product to manufacture and distribution and says this appointment ‘reinforces its commitment to delivering on its strategy.’
The company currently has existing cultivation and extraction facilities in Europe and is seeking expansion of its medical cannabis product pipeline in the European market, which currently includes its CannEpil and CogniCann products.
Its genetic cannabis strains recently received independent verification from the University of Ljubljana in Slovenia of their very high concentration of THC (tetrahydrocannabinol) and CBD (cannabidiol).
Roby Zomer, co-founder and Managing Director of MGC Pharmaceuticals was delighted to welcome Dr Parker to the board and believes his skill set will be an asset.
“His experience in London with various investment banks and pioneering pharmaceutical companies has given Stephen a unique and focussed skill set which will be an asset to us,” said Zomer.
“The sale of MGC Derma and Stephen’s appointment have coincided perfectly and facilitate the next stage of development as a biopharma company.”
Dr Parker echoed Zomer’s sentiments as said he was “looking forward to playing an active role in the development and expansion of MXC’s international operations.”
“I have worked within the pharmaceutical investment world for many years I can clearly recognise the potential in the cannabinoid sector, and I believe the structure, operational platform and product pipeline of MGC Pharma will drive it to the forefront of the European industry,” he said.
Dr Parker joins co-founders Nativ Segev and Roby Zomer, Executive Chairman Brett Mitchell and experienced clinician and radio and TV personality Dr Ross Walker (Non-executive Director and head of MXC’s Advisory Board).
This content is produced by Star Investing in commercial partnership with MGC Pharmaceuticals. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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