MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) said the Israeli authorities have approved a dosing study of its phytomedicine CimetrA for use in treating the effects of COVID-19.
In all, 240 people will be recruited to arrive at the optimum regimen for the Curcumin and Boswellia-based medicine to tackle the symptoms of the virus, including the cytokine storm that can lead to sometimes-fatal breathing difficulties. Patients will be observed for 28 days after receiving the treatment.
Managing director Roby Zomer said: "This latest dosage study is the latest step as we move closer to being in a position to apply for marketing authorisation for CimetrA in territories across the globe.
“We believe that CimetrA will prove to be a vitally important drug in the treatment of COVID-19 going forward, and look forward to sharing the results of the study in due course, along with further steps towards providing COVID-19 patients and governments across the world a cost effective treatment to fast track patient recovery and minimise the massive cost burden of long term hospitalisation."