MGC Pharmaceuticals (ASX:MXC) - CEO and Managing Director, Roby Zomer
CEO and Managing Director, Roby Zomer
Source: MGC Pharmaceuticals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • MGC Pharmaceuticals’ (MXC) distribution partner, AMC Holdings, orders an initial 1000 units of CimetrA to fast track the approvals process in the US
  • AMC will see the units shipped to a pharmacy in Tampa where they’ll be analysed to make comparisons with MGC Pharma’s research lab in Slovenia
  • Meanwhile, AMC is working with the University of South Florida and the Holy Cross Hospital to submit CannEpil and CogniCann to their review boards
  • Both parties maintain they are on track to meet the key conditions of the agreement
  • MGC Pharmaceuticals has ended the day 5.17 per cent in the green to close at 6.1 cents

MGC Pharmaceuticals’ (MXC) distribution partner, AMC Holdings, has fast tracked US sales through an initial order for 1000 units of CimetrA.

Under a supply and distribution agreement signed in August, AMC has now formally submitted its first order on an expedited basis. The units will be shipped to a pharmacy in Tampa area where they’ll be analysed to make comparisons with MGC Pharma’s research lab in Slovenia.

CimetrA is a proposed treatment for the disease associated with SARS-CoV-2, including Cytokine Storm, a severe symptom of COVID-19.

The agreement also requires AMC to establish clinical trials for both of MGC Pharma’s other drugs, CannEpil and CogniCann.

AMC has been working with both the University of South Florida in Tampa and the Holy Cross Hospital in Fort Lauderdale to submit its two treatments to their respective internal review boards.

The approval from these boards will be the first step for both facilities to join the clinical trials which are underway in Israel, and to launch US based clinical trials.

MGC Pharma, CEO and Managing Director, Roby Zomer, commented on the progress.

“AMC are already making significant progress in propelling CimetrA, CannEpil and CogniCann to clinical trial stage in the US and we are pleased that they have cemented relationships with these prestigious institutions for the continued research into our products.”

Both parties maintain they are on track to meet the key conditions of the agreement.

MGC Pharmaceuticals ended the day 5.17 per cent in the green to close at 6.1 cents.

MXC by the numbers
More From The Market Herald
The Market Herald Video

" EBR Systems (ASX:EBR) completes interim enrolment for SOLVE trial

EBR Systems (ASX:EBR) has completed interim patient enrolment in the pivotal SOLVE-CRT IDE trial of WiSE.
The Market Herald Video

" Nuheara (ASX:NUH) partners with Realtek to target hearing-related markets

Nuheara (ASX:NUH) has announced a strategic partnership and cornerstone investment from Taiwan-based Realtek Semiconductor Corporation via…
The Market Herald Video

" Paradigm Biopharmaceuticals (ASX:PAR) completes recruitment for knee OA trial

Paradigm Biopharmaceuticals (ASX:PAR) completes recruitment for its phase two clinical trial for treating knee osteoarthritis.

" Nanoveu (ASX:NVU) signs MoU to establish JV in India

Nanoveu (ASX:NVU) has signed a memorandum of understanding (MoU) with Alan Scott Industries to establish a…