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Could MGC Pharmaceuticals (ASX:MXC) hold the treatment for COVID-19?
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  • MGC Pharmaceuticals (MXC) has received the final results from its in-vitro laboratory testing for its medical spray ArtemiC
  • The results show that ArtemiC can modify the function of human immune cells in response to inflammatory stimuli
  • These findings support the idea that ArtemiC can have a beneficial impact on the Cytokine Storm, which plays an important role in the clinical deterioration of those affected by COVID-19
  • MGC Pharma is currently managing preclinical studies in parallel to the clinical trial
  • This program will demonstrate the safety, toxicity and mechanism of ArtemiC as a COVID-19 treatment
  • The company is currently awaiting the first results from the COVID-19 patients in the phase two trial, which is expected to be finalised soon
  • On the market this morning, MGC Pharma is up 18.2 per cent and is trading for 2.6 cents per share

MGC Pharmaceuticals (MXC) phytocannabinoid-derived medical spray, ArtemiC, could be used as an effective treatment for COVID-19.

The company has seen the final report of results from its laboratory testing, and the results show ArtemiC can modify the function of human immune cells in response to inflammatory stimuli.

The testing was conducted by an independent clinical research laboratory, MyPlant Bio, in Israel. The point of the test was to see what effect ArtemiC will have on the response of human Peripheral Blood Mononuclear Cells (PBMCs) to inflammatory stimuli.

COVID-19 trial

These findings support the idea that ArtemiC can have a beneficial impact on those experiencing the 'Cytokine Storm,' which plays an important role in the clinical deterioration of those affected by COVID-19.

Cytokine Storm is a severe immune reaction in which the body releases too many cytokines into the blood too quickly. It is a major factor in the occurrence of Acute Respiratory Distress Syndrome (ARDS) — the main cause of mortality in COVID-19
patients.

MGC Pharma is currently managing preclinical studies in parallel to the clinical trial. The focus of this program is to demonstrate the safety, toxicity and mechanism of ArtemiC as a COVID-19 treatment.

The company is currently awaiting the first results from the COVID-19 patients in the phase two trial, which is expected to be finalised soon.

“We are very pleased to have achieved these results, which have been completed in line with Food and Drug Administration (FDA) requirements for COVID-19 studies and provide important data points for our Phase IIb and three trial design and protocols," Managing Director Roby Zomer said.

On the market this morning, MGC Pharma is up 18.2 per cent and is trading for 2.6 cents per share at 11:59 am AEST.

MXC by the numbers
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