https://www.globenewswire.com/news-release/2020/05/27/2039409/0/en/Allied-Corp-Signs-Sales-Distribution-and-Manufacturing-Agreement-With-MGC-Pharma.htmlAllied Corp. Signs Sales, Distribution and Manufacturing Agreement With MGC Pharma
May 27, 2020 08:55 ET |
Source:Allied Corp.
KELOWNA, British Columbia, May 27, 2020 (GLOBE NEWSWIRE) -- Allied Corp. ("Allied" or the "Company") (OTCQB: ALID), an international medical cannabis company focused on creating and providing targeted cannabinoid health solutions to address today’s medical issues is pleased to announce the signing of a manufacturing and distribution agreement with an established European pharmaceutical company: MGC Pharmaceuticals (“MGC”) (ASX: MXC).
Under the terms of this agreement, MGC will manufacture Allied’s products within their EU GMP (Good Manufacturing Practices) certified factory. This will enable Allied to have their pharma products produced under procedures and methods that meet the high quality standards of EU GMP. In addition to this, through the MGC sales and distribution agreement, Allied will be able to sell their products following the completion of the PHASE I clinical trial. MGC currently has cannabis-based pharmaceutical products for sale in Europe and has demonstrated a proven ability to commercialize cannabis based pharmaceutical products. Commercialization of Allied’s Post-Traumatic Stress Disorder (PTSD) products into the European, South American and North American marketplace is a key piece of Allied’s strategic plan.
“We are excited to be working with MGC Pharma, a company with a proven track record in clinical research, manufacturing and sales of cannabis-based pharmaceuticals. They have clearly demonstrated that they know the track to successfully bring pharma products to the EU market. We look forward to leveraging their technical capabilities to accelerate development and manufacturing of our first pharmaceutical product for PTSD,” said Calum Hughes, CEO of Allied Corp.
“MGC Pharma is aligned with Allied Corp in their quest to create and provide targeted cannabinoid health solutions manufactured to the highest EU GMP standards. This landmark agreement enables us to not only manufacture, but also extend our sales and distribution footprint by helping to bring Allied’s pharma products to the EU market,” said Roby Zomer, Managing Director of MGC Pharma.
For more information on Allied Corp.,visit www.allied.health
About Allied Corp:
Allied Corp. is an international medical cannabis production company with a mission to address today’s medical issues by researching, creating and producing targeted cannabinoid health solutions. Allied Corp. uses an evidence-informed scientific approach to make this mission possible, through cutting-edge pharmaceutical research and development, innovative plant-based production and unique development of therapeutic products.
About MGC Pharma:
An industry-leading, European biopharma company supplying GMP Phytocannabinoid derived medicines to patients globally. MGC Pharma’s founders are all prominent figures in the Israeli Medical Cannabis Industry. They believe that Phytomedicines will influence public wellbeing across the globe by successfully treating formerly unmet medical requirements and drastically improving the lives of patients. MGC currently has several pharma products selling into various markets around the globe.
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