MXC now a true Pharmaceutical company, page-20

This is a very positive article from Next Biotech. I did not know that the GMP process took 18 months so MXC has put a lot of effort into the process - also mentions CannEpil production for those who were wondering where that is up to.

MXC Moves Towards Commercial-Scale Pot Production with GMP Manufacturing Licence​

PUBLISHED: 13-07-2018​

Nimble ASX pot-stock MGC Pharmaceuticals (ASX:MXC) this week smashed a pivotal milestone, scoring full manufacturing licence for its world-class European compounding and manufacturing facility for the production of euGMP grade medicinal cannabis products.
This is the final step in an 18-month approvals process, enabling MXC to kick off a commercial-scale production operation, beginning with its first medicinal cannabis offering, CannEpilTM.
The facility is now fully licenced to produce all THC (tetrahydrocannabinol) and CBD (cannabidiol) formulations of medicinal cannabis, enhancing its ability to develop additional pot-based products into the buzzing European and global markets.
Consider that the European corner of that global market alone will be worth over €56 billion (A$126B) by 2020.
Of course how much of the market MXC is able to capture remains to be seen, so investors should seek professional financial advice if considering this stock for their portfolio.
Harnessing years of experience in the industry-leading Israeli marijuana space, MXC is cultivating a seamless global supply chain from planting to medicine. Its focus is on innovating pharmaceutical-grade medicinal cannabis products to improve the lives of patients across the world.
The biotech junior already has a wide-reaching global footprint with facilities and researches across Australia, Slovenia, Malta, the Czech Republic, with plans to expand into the Asian, UK, and North America markets.
In fact, MXC is the only ASX-listed medicinal cannabis company with a combined Israeli, European and Australian clinical research strategy — something that gives it a serious edge over its pot-stock peers.
Another critical differentiating point for MXC is that its underlying business encompasses the entire medicinal cannabis value chain, which is echoed across its four core operating divisions: MGC Pharma, Derma, Botanic and Nutraceuticals.
MXC’s CannEpil product has been years in the making and targets drug-resistant adult epilepsy, which accounts for around 30% of the 25,000 cases that are diagnosed in Australia alone each year.
Via its agreement with HL Pharma, MXC is expecting to generate more than $1 million in annual sales from CannEpil in the Australian market. Notably, this is from less than 100 patients already registered through its relationship with doctors and Epilepsy Action Australia (EAA).
Final tests on the first batch of CannEpil have been completed, which granted the licence. From here, the drug will now go through final independent validation by Slovenia’s National Institute of Chemistry before being provided to patients in both Slovenia and Australia as an IMP (Investigational Medicinal Product).
The first batch is expected to be completed in several months, with exportation into Australasia beginning shortly thereafter. On top of this, MXC will produce cannabinoid-based IMPs for use across the entire MGC clinical studies and research pipelines. This translates into a jam-packed schedule for MXC as it steadily comes into its own as a global bio-pharma innovator.
2018 is clearing shaping up to be an auspicious year for this $88 million-capped biotech growth story — and there’s still plenty more to come as MXC awaits approval of its Australian research licence, begins CBD extract sales on the wholesale market, and pens more in the way of exclusive distribution deals.​