The World Health Organisation (WHO) has established a COVID-19 taskforce and MGC Pharma is part of it.
The European-based cannabis biotech, MGC Pharmaceuticals (ASX:MXC), has geographically expanded its patient base for its Phase II double-blind, placebo-controlled clinical trial of 'ArtemiC,' on patients that have been diagnosed with COVID-19. 'ArtemiC' is a natural supplement formula based on Artemisinin, Curcumin and other supporting ingredients that share anti-infective, anti-inflammatory, immune-modulatory and antioxidant properties
The expansion will see MGC Pharma carrying out operations in India, at the Mahatma Gandhi Mission's Medical College & Hospital.
Moreover, the company has been selected by the World Health Organisation to be included in their review of companies' efforts and evidence surrounding potential COVID-19 treatments.
The Phase II trials in India will be commencing in mid-July 2020, and are expected to last until the end of the year. Should the trials be successful, and show promising, clinically significant results, the doors to India will open for MGC Pharma with respect to the future sale of 'ArtemiC' in India and other Asian countries. This is especially prudent given the increase in confirmed COVID-19 cases occurring in India, with nearly 19,000 reported over the past 24 hours, bringing the total number of cases to just shy of 586,000.
According to the company's recent Press Release, "expanding the trial to include India will also provide MXC with the wider statistical data required as part of the process for application of marketing authorization for ArtemiC, with the US Food and Drug Administration (FDA) and European Medicines Agency (EMA) registration."
Additionally, a spike in COVID-19 infection rates is occuring in Israel, with 737 new cases over a 24 hour period – the highest per day since COVID-19 cases were initially reported Israel. Israel now has over 26,000 cases, which has resulted in an increase in participation rates for MGC's Phase II Clinical trial at the Hillel Yaffe Hospital and Nazareth Hospital EMMS trial sites in Israel.
Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: "We have expanded the patient recruitment process for our Phase II clinical trial to India where there is still a large number of new COVID-19 cases being reported on a daily basis. In addition, these wider statistical results to be obtained through the trial in India will also be required as part of the marketing authorization application for ArtemiC. We look forward to updating the market as the trial commences in India."
To learn more about MGC Pharma, visit their company HQ here.
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