MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, FRA:H5O, ASX:MXC) said its commercial partnership with AMC Holdings Inc is already starting to bear fruit.
The phytomedicines group told investors AMC placed an order for 1,000 units of CimetrA, a compound containing Curcumin and Boswellia that has shown early promise in treating the symptoms of severe Coronavirus (COVID-19).
AMC is working with the University of South Florida (USF) on an immediate submission to the latter’s internal review board (IRB) ahead of a clinical trial.
Two other MGC plant-based formulations, CannEpil and CogniCann, will be submitted to the university for the IRB rubber stamp.
The early order of 1,000 units is part of a landmark deal with AMC worth a minimum of US$24mln.
MGC Pharma chief executive Roby Zomer said: "AMC are already making significant progress in propelling CimetrA, CannEpil and CogniCann to the clinical trial stage in the US and we are pleased that they have cemented relationships with these prestigious institutions for the continued research into our products."