Phytomedicine specialist MGC Pharmaceuticals has received a $1m (~£0.83m) order for its anti-inflammatory product, ArtemiC™, under an updated US Supply and Distribution Agreement signed with AMC Holdings.
The production of ArtemiC Rescue – a nutraceutical that the company states has demonstrated a range of benefits for patients suffering from moderate Covid-19 – will begin immediately.
The product will be delivered to AMC over the next three months. 3,500 units of ArtemiC Rescue units have recently been delivered to AMC, clearing all necessary regulatory requirements for its import to USA, resulting in the placing of the new order.
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MGC Pharma managing director and CEO, Roby Zomer, commented: “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 $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.”
The US Supply and Distribution Agreement executed with AMC in August 2021, and which originally covered MGC Pharma’s CimetrA, CogniCann, and CannEpil products, has been recently amended to include ArtemiC as a result of ongoing commercial market evaluation in the USA by AMC on the Company’s product line.
MGc Pharma has stated that the developing strategic relationship with AMC in respect to the commercial and research opportunities in the USA market has delivered this new commercial opportunity, and may lead to additional purchase orders based on future demand from AMC’s US distribution channels.
MGC Pharma and AMC are also currently advancing work on the potential opportunity, and regulatory approvals, to bring MGC Pharma’s leading phytocannabinoid medicines, CogniCann and CannEpil into the USA under existing early patient access schemes.
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