Medical cannabis biopharma company, MGC Pharmaceuticals (ASX:MXC) is making further advances with the commercialisation of its medical cannabis products in Australia.
It has signed two new distribution agreements with leading medical cannabis distribution and logistics specialists in Australia.
Health House International and Cannvalate have been signed up for the distribution in Australia of MXC’s epilepsy focused CannEpil; dementia and Alzherimer’s focused CogniCann; its cannabidiol (CBD) formulation MXP100; and its tetrahydrocannabinol (THC) and CBD MXC1:1 product for relief from symptoms of spasticity and certain types of inflammatory pain.
The signing of Health House and Cannvalate comes following the TGA approval for MXC to import MXP100 and MXC1:1 for the supply in clinical trials and prescription under the Special Access Scheme and Authorised Prescriber Scheme.
Under the agreement with Cannvalate, both parties have also partnered for clinical research on MXC’s products at the Medicinal Cannabis Research Collaboration in Melbourne.
Cannvalate co-founder and CEO Dr. Sud Agarwal said Cannvalate “are proud to be partnering with MGC Pharma on Clinical Research at the [Collaboration] in Melbourne to increase the body of literature providing further clinical support for MGC’s cannabinoid pharmaceuticals.”
Health House’s distribution network includes community and hospital pharmacies and an extensive network of medical professionals who are involved in helping doctors obtain approvals to prescribe medical cannabis under the Special Access Scheme.
Cannvalate boasts Australia’s largest network of cannabis prescribers and dispensaries.
It has over 1,000 doctors and 600 pharmacies signed up and “has already identified several physicians who are keen to start prescribing MGC Pharma’s high-quality pharmaceutical products.”
Roby Zomer, co-founder and Managing Director of MXC said that the “agreements facilitate the availability of our medicinal cannabis products in Australia and should lead to more patients in need being prescribed our formulations.”
Supply of MXC’s products is expected to begin in 2019 to Health House and Cannvalate’s networks.
“The permission by the TGA for MGC Pharma to supply two of our additional formulations in Australia further facilitates access to a variety of medicinal cannabis products for patients who need them,” said Zomer.
Health House were extremely complimentary of MXC’s products, with its founder and CEO, Paul Mavor saying that MXC “represent cutting edge technology in this industry that is backed up by ongoing research.”
“MGC Pharma has a great selection of products with different formulations targeting different medical conditions that may be alleviated with medicinal cannabis,” said Mavor.
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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