MGC Phamaceuticals has updated the market on results from its current brain cancer clinical trials.
The European based "Seed to Pharmacy" bio-pharma company, MGC Pharmaceuticals (ASX:MXC), announced research highlights from its pre-clinical studies into the effectiveness of using cannabinoids to treat brain cancer.
The company's pre-clinical trials have yielded positive results and new facts on the potential treatment of glioblastoma, which is currently the most aggressive and therapeutically resistant primary brain tumour.
The research was undertaken in collaboration with the National Institute of Biology and University Medical Centre Ljubljana, and represents a major scientific breakthrough for MGC Pharmaceuticals in their attempt to treat cancerous cells with cannabinoids.
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The trials confirmed that cannabinoid-based formulations can successfully inhibit the viability of high-grade brain tumours, while also causing a significant amount of glioblastoma cells to die.
More importantly, however, the cannabinoids were also shown to effectively target glioblastoma stem cells, which are considered to be the "roots" of the disease.
The treatment of glioblastoma cells. The company has also developed a diagnostic platform that is able to predict the responses of tumours to selective multi-cannabinoid compound formulations, which means that a patient's treatment plan can be more thoroughly targeted.
"The full research report successfully shows that compounded cannabinoid formulations can have a positive effect on the treatment of glioblastoma, reducing the growth of a tumour cell and killing the cancerous stem cells. We are now creating a cannabinoid compound matrix which we can utilise to target a wider range of cancers and significantly advance our R&D capabilities."
– Co-founder and managing director of MGC Pharmaceuticals
The co-founder and managing director of MGC Pharmaceuticals, Roby Zomer, said that "this research is a major breakthrough for the treatment of tumours with cannabinoid-based formulations and has wider implications on different cancer treatments."
"We are a cannabinoid focussed pharmaceutical company working with the international scientific community, and this research, conducted in collaboration with the National Institute of Biology and University Medical Centre Ljubljana, highlights the success of this partnership strategy."
"We will continue on this path to broaden our cannabinoid cancer research programs, with further involvement of leading medical research institutions, including the Royal Melbourne Institute of Technology and The Hebrew University of Jerusalem, which will have material implications for future trials targeting cancer treatments and maintaining our premier position within the cannabinoid focussed pharmaceutical sector."
"We continue to develop our seed to pharmacy strategy, creating pharmaceutical based formulations in targeting medical conditions, including cancers, epilepsy and dementia, and we look forward to increasing our revenues as we increase sales and capitalise on our unique position in the market. I look forward to updating investors on developments including progress from our new Maltese commercial hub, as we look to build our commercial platform and shareholder value," Zomer said.
MGC Pharma's research has also indicated that selective cannabinoid formulations can inhibit tumour growth in vitro, while also inducing apoptosis of glioblastoma cells. However the most important news was still the formulation's capacity to kill glioblastoma cells, greatly enhancing doctor's ability to successfully isolate and remove tumours from patients.
News of the update caused stock in MGC pharmaceuticals to spike in value, which saw shares climb by 7.55% to 0.057 as of the day's close.