MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) has received a new ~US$1 million purchase order for its clinically proven anti-inflammatory product, ArtemiC Rescue, from US-based AMC Holdings, Inc.
3,500 units of ArtemiC Rescue have recently been delivered to AMC, clearing all necessary regulatory requirements for its import to the US, resulting in the placing of the additional order.
The new order is to be delivered to AMC over the next three months.
ArtemiC Rescue is a nutraceutical which, in a phase II clinical trial undertaken in 2020, demonstrated a range of benefits for patients suffering from moderate COVID-19.
AMC is a special purpose vehicle founded by experienced US healthcare professionals and former federal US government officials to facilitate the research and growth of phytomedicines in the USA.
MGC’s US supply and distribution agreement executed with AMC in August 2021, and which originally covered CimetrA, CogniCann and CannEpil products, has been recently amended to include ArtemiC as a result of ongoing commercial market evaluation in the US by AMC on the company’s product line.
MGC Pharma and AMC are also currently advancing work on the potential opportunity, and regulatory approvals, to bring MGC’s leading phytocannabinoid medicines, CogniCann and CannEpil into the US under existing early patient access schemes.
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MGC managing director and CEO Roby Zomer said: “The inclusion of ArtemiC in the AMC Supply and Distribution agreement recognises the progress that MGC Pharma has made in the development of this product, and the receipt of AMC’s initial ~US$1M order is a great step for the company as it further expands its reach into the global market for a product which has demonstrated great potential from clinical trial data to date.
“MGC Pharma is excited to be at the forefront of phytomedicinal research, and the opportunity to enter the world’s largest, and most advanced Healthcare market, and we look forward to the insight that AMC will bring to the future clinical development of ArtemiC.”