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Corporate Spotlight

MGC Pharmaceuticals Ltd is a medical and cosmetic cannabis company with global operations to supply the legalized markets with cannabis products. The current activities of company include development of non-psychoactive cannabidol (CBD) cosmetic products.
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MGC Pharmaceuticals at CannaTech UK

MGC PHARMA LAUNCHES

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MGC Pharma Launches New Affordable Cannabinoid Products Line in Australia & New Zealand – “Mercury Pharma” 

ASX Announcement 7 January 2020


MGC Pharmaceuticals Ltd (ASX: MXC, ‘MGC Pharma’ or ‘the Company’), a European based ‘Seed to Pharmacy’ bio-pharma company focused on developing and commercialising cannabinoid derived medicines, is pleased to announce the launch of a new proprietary affordable prescription medicine line to be branded as Mercury Pharma, specifically for the Australian and New Zealand markets. The first product being “Mercury Pharma 100” (‘MP100’), a 100mg/mL CBD solution that will be prescribed by health care professionals in Australia and New Zealand, initially distributed by Australian medicinal cannabis distribution and logistics specialist Cannvalate Pty Ltd and Health House International Pty Ltd in due course.


Purchase orders for MP100 already received have totalled over 2,000 units to be delivered in January and February, which will deliver an immediate and positive impact on the Company’s Q1 2020 revenues


Key Highlights

  • Launch of Mercury Pharma brand and MP100, an affordable prescription only 100mg/mL cannabidiol (CBD) solution 
  • MP100 is being produced specifically for the Australian and New Zealand markets only, which will compete against existing high CBD products already available and sold in these 2 markets 
  • Purchase orders for 2,000 units received to be delivered in January and February 2020, totalling revenue in excess of c.AUD$270,000 which will have a positive and immediate effect on short term revenues, a trend we expect to continue and grow. Products ordered to date are expected to be supplied within 30 days of the date of this announcement, pending the granting of Import Permits by the Australian Office of Drug Control 
  • MP100 has been developed following feedback from patients and prescribing physicians that one the biggest hurdles to accessing and continuing as patients is the cost of phytocannabinoid derived medication currently available 
  • MP100 will help drive total Australian and New Zealand prescription numbers of MGC Pharma phytocannabinoid derived medicines in the short term due to the products affordability, and Cannvalate’s growing clinical and distribution network 
  • MP100 will initially be supplied, under current distribution agreements, by Cannvalate Pty Ltd, with additional purchase orders from Health House International expected in the coming weeks


Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “The launch of Mercury Pharma brand and “MP100” so early in 2020 bodes well for the year ahead as MGC Pharma continues to follow its agenda to provide cost effective affordable standardised phytocannabinoid based medicines to patients globally. 


“The Mercury Pharma brand brings an alternative affordable high CBD prescription medicine to the Australian and New Zealand markets only, as well as adding a new product line to MGC Pharma’s offering. Without competing with our existing EU GMP Pharma grade medicines, we believe we will be a serious competitor for already available cannabis derived products, and look to disrupt the market. We have already seen a positive response to MP100 with purchase orders totalling over AU$270,000, which will have an immediate and positive effect on our revenues in Q1 2020.


“With ever increasing prescription numbers for our pharma-grade products, we expect to see a further significant increase in patient and prescription numbers in the relative short term as MP100 is increasingly available in Australia and New Zealand, and as we continue to develop additional formulations for the Mercury Pharma brand.” 


Darryl Davies, COO of Cannvalate Pty Limited, commented: "Cannvalate are delighted to introduce MGC Pharma's latest range across our network. MP100 is a high-quality, cost effective medication option that we expect to be extremely well received by both prescribing physicians and patients. MXC continue to work towards lowering barriers for Australian patients and we expect this will be the start of significant growth in patient numbers for 2020."


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1,000 PRESCRIPTION MILESTONE

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MGC Pharma Reaches Key 1,000 Prescription Milestone Ahead of Schedule for its Proprietary Cannabinoid Medicines

ASX Announcement 31 October 2019 


MGC Pharmaceuticals Ltd (ASX: MXC, ‘MGC Pharma’ or ‘the Company’), a European based ‘Seed to Medicine’ bio-pharma company specialising in the production and development of phytocannabinoid derived medicines, is pleased to announce that the number of patients being prescribed its standardised, affordable cannabinoid medicines has continued to increase during October. The Company has now passed the 1,000 prescribed products milestone ahead of schedule in Australia and the United Kingdom, through prescriptions issued to more than 500 unique patients.



Key Highlights: 

  • This milestone of 1,000 prescribed products has been achieved ahead of schedule due to the significant increase in prescriptions issued during October 
  • More than double the number of units prescribed in October compared to September 
  • More than 25 units prescribed on average per business day during October, increasing by 20% over the past 2 weeks 
  • The profile now being established of return patients for MGC Pharma products is expected to drive the prescription growth rate through November and December 
  • One of MGC Pharma’s key distribution partners, Cannvalate, who account for more than half of prescriptions to date due to their close ties with the medical community and national footprint, report increasing interest in the Company’s products due to competitive price and quality 
  • Demonstrates the near-term revenue generating potential of the Company based on its phytocannabinoid derived medicines available only to patients in Australia and the UK to date 
  • MGC Pharma’s EU-GMP manufacturing facility in Slovenia can produce its pharmaceutical grade phytocannabinoid medicines for approximately 5,000 patients per month, at full capacity 
  • MGC Pharma’s proprietary products, CannEpil® and MXP100 (100mg/mL cannabidiol), are prescribed in Australia under the Special Access Scheme and in the UK through specialised doctors permitted to prescribe phytocannabinoid derived medicines under the Early Access to Medicines Scheme 
  • CannEpil® is the Company’s high CBD, low THC formula (20:1) phytocannabinoid derived formulation targeting the treatment of drug resistant epilepsy while MXP100 is recommended for mild neurological disorders, inflammatory and for hepatoma patients
  • New Purchase Orders exceeding €300,000 recently received for all MGC Pharma products as demand continues to increase


Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “From a standing start we have now hit 1,000 prescriptions in a short space of time and ahead of schedule, demonstrating a clear demand for MGC Pharma’s products. The established profile of return patients for MGC Pharma products is expected to drive the prescription growth rate through November, December and beyond. 


As recent announcements have shown there is clear momentum behind the business, and we look forward to updating the market on our progress as we look to capitalise on the fast-growing medicinal phytocannabinoid market.”


Sud Agarwal, CEO of Cannvalate, commented: “We are delighted to see that MGC Pharma's product range has been so well received by the medical community. Each week, there are hundreds of patients that are accessing MGC range medication via our network. The spike of interest has been due to superior quality (EU-GMP), competitive pricing and individually designed condition-specific medications.


“We are looking forward to managing the continued increase in demand and we are thrilled that Australian patients have access to high-quality, consistent and affordable cannabinoid medication.”


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COMPANY PRESENTATION

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MILESTONE PASSED

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200 Prescription Milestone Passed in Australia & United Kingdom with Increasing Patient Uptake 

ASX Announcement 18 September 2019 


MGC Pharmaceuticals Ltd (ASX: MXC, ‘MGC Pharma’ or ‘the Company’), a European based ‘Seed to Pharmacy’ bio-pharma company specialising in the production and development of phytocannabinoid derived medicines, is pleased to announce that it has substantially increased the number of patients prescribed to date its standardised, affordable medicines to pass the 200 prescription mark, delivering a material increase to the first 100 patients registered or prescribed milestone announced in mid-August 2019.


Key Highlights: 

  • 52 new patients added during first 2 weeks of September in Australia, the average number of new patients increasing on a weekly basis with regular supply channels in place 
  • Following to the announcement dated 14 August 2019, over 100 additional MGC Pharma products have been prescribed in Australia and the UK over the past month, taking the total prescriptions to date to +200 
  • This new, key milestone demonstrates MGC Pharma’s proprietary standardised, affordable medicines and the Company’s increasing distribution capabilities 
  • MGC Pharma’s products, CannEpil® and MXP100 (100mg/mL cannabidiol), prescribed in Australia under the Special Access Scheme and in the UK through specialised doctors permitted to prescribe phytocannabinoid derived medicines under the Early Access to Medicines Scheme. 
  • CannEpil® is the Company’s high CBD, low THC formula (20:1) phytocannabinoid derived formulation targeting the treatment of drug resistant epilepsy 
  • Increasing uptake of patients and number of prescriptions is testament to the quality and cost competitiveness of MGC Pharma's EU-GMP grade phytocannabinoid derived medicines 
  • Cannabis Access Clinics joins Tetra Health as one of the Company’s key clinic partners


Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “Having already achieved 200 prescriptions across our first key markets of Australia and the United Kingdom is a fantastic achievement for the Company and a validation of our ‘Seed to Pharmacy’ strategy. This has been achieved within months of establishing new key distribution networks for our first products to market, both in Australia and the UK. Having progressed CannEpil® and MXP100 from the Research & Development stages through to commercialisation, we now have a proven process in which we can advance additional standardised, affordable phytocannabinoid derived medicines.


“Critically, with our unique EU-GMP production and key market distribution infrastructure now established, we can meet this increasing demand for our offering of phytocannabinoid derived medicines in our existing and future markets. We anticipate the uptake of patients to continue to increase accordingly, providing revenue to invest further in new production and our Research & Development strategies, as well as cementing MGC Pharma has a key player in the medical cannabis sector globally.”


Further Information 

Increasing the number of prescribed MGC Pharma phytocannabinoid derived medicines to over 200 across Australia and the UK demonstrates the rapid uptake of the Company’s products and its strengthening position in each market. In addition, a number of other patients are being treated with MGC Pharma products globally via participation in ongoing clinical research. The commercialisation of its portfolio of phytocannabinoid derived medicinesis in line with its strategy of becoming a world-leading bio-pharma company through international distribution agreements. 


CannEpil® and MXP100 are both proprietary MGC Pharma products that have been developed internally through the Company’s Research and Development division and progressed through to commercialisation. This is in line with the Company’s ‘Seed to Pharmacy’ strategy with the Company owning all the intellectual property through each stage of a product’s development, from the genetics to finished pharmaceutical grade product.


The Company continues to work closely with its designated distributors to onboard further clinics, in addition to independent medical professionals, in each region increasing patient access to its phytocannabinoid derived medicines under the relevant legislation in each jurisdiction.


MGC Pharma’s designated UK distributors are Grow Biotech PLC, a British headquartered company developing revolutionary processes, practices, techniques, tools and formulations to bridge the gap between existing cannabis medicines and accepted pharmaceutical standards, and IPS Specials, a company that manufactures unlicensed compounded medications and formulations for community and hospital pharmacists, and dispensing doctors. Grow Biotech and IPS provide direct, official access into the UK medical cannabis market with an extensive network of some 5,500 pharmacies across the UK.


In Australia, MGC Pharma has appointed Health House International and Cannvalate as its regional distributors. Health House International is an Australian-based specialist medicinal cannabis company that wholesales and distributes medicinal cannabis products to community and hospital pharmacies. Cannvalate is Australia’s largest network of cannabis prescribers and dispensaries (1,000+ doctors and 600+ pharmacies) giving the Company immediate and Australia-wide access to patients across all specialties. 


The Company’s products have also been recently on-boarded by Tetra Health and Cannabis Access Clinics into their catalogue of available products provided to their networks of medical professionals.


Tetra Health streamlines patient access, provides education on how to prescribe cannabis for medical purposes to medical practitioners, and manages treatment outcomes with specialist nurses across Australia. Tetra Health, through its founders and network of partners, has managed over 30,000 global patients and has seen a 500% increase in patient growth in Australia over the last month. Cannabis Access Clinics (CAC) is a Southern Cannabis Holdings company and is the largest network of medicinal cannabis clinics in Australia. CAC work directly with patients who suffer from indications for which there is some evidence that medicinal cannabis therapies may be beneficial. They work in accordance with TGA Guidance documents on medicinal cannabis, consulting patients with a number of indications.


Import and export approval for MGC Pharma products is granted per shipment to both Australia and UK. This process requires approvals from both the Agency for Medicinal Products and Medical Devices of the Republic of Slovenia (JAZMP) and the Office of Drug Control (ODC) for Australia, similarly between JAZMP and the United Kingdom Home Office Drugs Licencing and Compliance Unit for the UK, with the process now established and streamlined for future shipments. As is typical in the industry, payment terms are 90 days from the time of sale of MGC Pharma products by the distributor and therefore all sales will be reflected in the financial report of the Company in the quarter following the date that sales are contracted.


Click here to view the full announcement

VIDEO'S

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MGC PHARMACEUTICALS IN ACTION



Description: CannaTech Conference attended by MGC Pharmaceuticals in London, October 2017.



 Description: Interview of Nitin Mantri, Senior Lecturer at RMIT University, as he discusses the first project of the collaboration between MGC Pharma and RMIT.

(20min delay)
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