The company is currently developing a nano-structured drug delivery technology that will allow for reduced dose frequency, greater bioavailability and targeted distribution.
The European based bio-pharma company MGC Pharmaceuticals (ASX:MXC) unveiled its latest investor update today, providing the market with a snapshot of its distribution channels, products and patient numbers.
One of the biggest announcements was the development of a new drug delivery platform that will make use of smart nano-structured materials.
MGC is currently conducting research on nano-emulsion, nanoparticles and core-shell microcapsule technology which will allow its cannabis formulations to be absorbed with greater efficacy, allowing for a reduced dose frequency.
MGC Pharma has made terrific progress in 2019, having grown from just 100 prescriptions starting in August 2019, to more than 2,000 by the start of the calendar year. I am confident that this rapid growth trajectory will continue in 2020 as our products are now available on three continents and the prescription numbers are projected to increase as the knowledge of MGC Pharma's medicines improves amongst healthcare professionals.MGC Pharma Co-Founder and Managing Director, Roby Zomer
The company believes that the technology will offer patients greater relief from the unaddressed issues associated with conventional pharmaceutical treatments, such as nonspecific distribution, rapid clearance, uncontrollable release of drugs and low bioavailability.
MGC Pharma also provided an update on the construction of its new fully integrated medical cannabis "Seed to Medicine" manufacturing facility in Malta. Once the site is fully operational it will become a highly strategic asset for the company's EU focused business and operations plan, as a result of its unmatched manufacturing capacity.
Malta's climate is also ideally suited to cannabis cultivation—allowing for three crop cycles per year—while the FDA Mutual Recognition Agreement will provide direct access to key emerging markets including Austria, Croatia, France, Italy, Malta, Spain, Sweden and the UK.
However, the biggest change may have been the revision to MGC's projected timeline, which will see the completion date of several key projects pushed back by at least a quarter.
The completion of the company's ongoing Driving Study and Phase IIb clinical trials for CannEpil are now expected to conclude in in Q4 2020, while the initiation of its clinical program for InCann will be delayed till Q3 this year.
The Phase IIb clinical trials for MGC's dementia and Alzheimer's drug, CogniCann, have also been pushed back from the third quarter of 2020 to Q2 2021, as the company shifts its efforts towards pursuing full product registration for CannEpil.
To learn more about MGC Pharma visit their Company HQ here.
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