Graft Polymer (UK) PLC (LSE:GPL) has received a first commercial purchase order for its fledgling GraftBio division, the company said in a statement today.
The UK-based food supplement and drug delivery system developer launched its new division, GraftBio, in 2020 to develop intellectual property for pharma applications.
In a trading update, it said it had received a US$1mln order for an anti-inflammatory supplement that will be sold in the US market.
MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC), with which it has a licensing agreement, has ordered 50,000 ArtemiC Rescue nutraceuticals following a bulk order from US-based AMC Holdings Inc.
Graft Polymer said it will begin production immediately and that it expects to fulfil the order over the next three months.
Chief executive Victor Bolduev said: “This near-term revenue generating purchase order from MGC Pharma is a significant moment for Graft Polymer, and one which we anticipate follow-on orders from in the coming quarters.
“The ability for the GraftBio proprietary drug delivery system division to licence and produce a wide range of products for pharmaceutical clients like MGC Pharma, and many other customers and industries going forward, demonstrates the diverse nature of our technology.”