MGC Pharma (ASX: MXC) has signed distribution deals with two leading Australian medicinal cannabis distribution and logistics specialists, Health House International and Cannvalate.
These agreements increases MGC’s footprint in Australia, as both Health House and Cannvalate service a large portion of Australia’s doctors and patients.
Initially, MGC will be importing CannEpil and CogniCann for the treatment of epilepsy and dementia/Alzheimers, respectively. The first import batch also includes a straight CBD product, and a 1:1 CBD:THC formulation.
The agreement with Cannvalate is only for patients prescribed through their clinic network, ACMA, while also including several research projects, the details of which have yet to be announced.
ACMA is Australia’s largest network of cannabis prescribers and dispensaries (1,000+ doctors and 600+ pharmacies) allowing MGC immediate and Australia-wide access to patients across all specialties.
Roby Zomer, CEO of MGC Pharma said, “These agreements facilitate the availability of our medicinal cannabis products in Australia and should lead to more patients in need being prescribed our formulations through the appropriate pathways, demonstrating that we are at the forefront of our industry. The permission by the TGA for MGC Pharma to supply two of our additional formulations in Australia further facilitates access to a variety of medicinal cannabis products for patients who need them.
“These are exciting times for the Company; with the research and development that we have carried out in formulating our range is obviously proving successful, and commercialising this. We have one of the world’s most experienced research teams who continue to develop new products. In tandem with our vertically integrated seed to pharma strategy we are building a truly international business that is setting the standards in the medical cannabis space.”
CEO of Health House, Paul Mavor, said “I am excited to be distributing MGC medicinal cannabis products. They represent cutting edge technology in this industry that is backed up by ongoing research. MGC Pharma’s CogniCann product is currently being investigated for use in treating the symptoms of dementia and Alzheimer’s. This disease is a massive problem to society both financially and emotionally and currently we have no other pharmaceutical options. MGC Pharma has a great selection of products with different formulations targeting different medical conditions that may be alleviated with medicinal cannabis.”