Total
0
Shares
MGC Pharmaceuticals (ASX:MXC) enters Polish market
  • MGC Pharmaceuticals (MXC) has entered an exclusive commercial supply agreement with two Polish companies to supply its products in Poland
  • The agreement will set out the terms under which the company will supply its medicinal cannabis products in the country
  • Initially, 15 pharmacies will receive the products but MGC Pharma hopes to expand to 50 location within nine months and 250 within two years
  • Managing Director Roby Zomer said this is a "unique opportunity for the company to enter a large EU market"
  • MGC Pharma has closed in the grey with shares trading for 2.6 cents apiece

MGC Pharmaceuticals (MXC) has entered an exclusive commercial supply agreement with two Polish companies to supply its products in Poland.

The company has partnered with Polish NGO Cannabis House Association and the Forensic Laboratory of the Faculty of Law and Administration of the University of Łódź in Poland to enter this key European market.

The agreement will set out the terms under which MGC Pharma will supply its cannabinoid medicine products to support a large-scale commercial research study.

The study will aim to collect data on medicinal cannabis users and products in Poland.

It will supply cannabis products and collect important study participant data to its registered and regulated cannabis products to 15 pharmacies in Poland.

This number will then expand to 50 within nine months, and full rollout is planned for 250 locations within two years.

MGC Pharma will supply its CannEpil and CogniCann products as well as the Mercury Pharma line.

CannEpil is a high CBD, low THC formula used for treating epilepsy while CogniCann has 3:2 formula of THC to CBD and is used to treat patients with Alzheimer's.

"We have continued to build momentum this year by adding Poland to the list of countries where our phytocannabinoid-derived medicines are available," Co-founder and Managing Director Roby Zomer commented.

"The combination of a truly distinctive research project such as this on creates a unique opportunity for MGC Pharma to access a large EU market immediately, drive revenues and generate significant patient data," he added.

MGC Pharma has closed in the grey with shares trading for 2.6 cents apiece in a $36.46 million market cap.


Subscribe


MXC by the numbers
More From The Market Herald
OBJ (ASX:OBJ) - CEO, Paul Peros - The Market Herald

" OBJ (ASX:OBJ) to raise $4.5M for product development and licencing

Innovative wellness company OBJ (OBJ) is aiming to raise $4.5 million through an entitlement offer and placement for licencing, development and general workin…
Creso Pharma (ASX:CPH) - CEO & Co Founder, Dr Miri Halperin Wernli (left) and Chairman, Boaz Wachtel (right) - The Market Herald

" Creso Pharma (ASX:CPH) subsidiary receives follow-up order from Univo Pharmaceuticals

Creso Pharma’s (CPH) subsidiary, Mernova Medicinal, has received a US$625,690 (roughly A$901,830) purchase order from Univo Pharmaceuticals.
Holista Colltech (ASX:HCT) - Managing Director, Dr Rajen Manicka - The Market Herald

" Holista CollTech (ASX:HCT) misses the mark for hand sanitiser product

Holista CollTech (HCT) has downgraded its $3.8 million in expected sales from its hand sanitiser product, Natshield, due to COVID-19 and race riots.
Cellmid (ASX:CDY) - CEO, Maria Halasz (right) - The Market Herald

" Cellmid (ASX:CDY) signs distribution agreement for SARS-CoV-2 and ELISA’s

Cellmid (CDY) has signed a distribution agreement with Immunodiagnostics (IMD) for Enzyme Linked Immunosorbent Assays (ELISA’s) and SARS-CoV-2 tests in Australia and New