MGC Pharmaceuticals (ASX: MXC) is an Australia-headquartered specialist medical cannabis biopharma company, which has most of its operations based in Europe. Management has many years of technical, clinical and commercial experience in the medical cannabis industry.
MGC Pharmaceuticals is developing cannabis-based pharmaceutical products, initially in Australia and Europe. It is already growing medicinal cannabis crops in the Czech Republic and has established in Slovenia one of the few fully GMP-certified resin extraction and separation plants in Europe. It plans to establish larger-scale operations in Malta under a contract awarded by the Maltese government in April 2018. In December it imported the first shipment of GMP-certified CannEpil into Australia, where it can be prescribed as an investigational medicinal product under an authorisation received from the Therapeutic Goods Administration. The company intends to develop CannEpil and CogniCann as registered pharmaceutical treatments for refractory epilepsy, and to improve quality of life in dementia patients, respectively. In January MGC completed the sale of its MGC Derma cannabis-based cosmetics business to Cannaglobal in exchange for a 10% equity interest in CannaGlobal and a five-year exclusive supply agreement.
Increasing acceptance and regulatory approvals in many countries have made medicinal cannabis a fast-growing industry. Cannabinoids have generated promising data in many indications and are attracting considerable interest.