India’s first medical cannabis “research to retail” venture, HempStreet, and Europe’s biopharma and phytomedicine specialist, MGC Pharmaceuticals, have entered into a partnership that will see the pair combine research and development as well as distribution strengths to improve quality of life.
UK-based MGC Pharma has been working on polyherbal formulations based on cannabis and other phytopharmaceuticals. Through this new partnership MGC Pharma will leverage HempStreet’s extensive distribution reach and key institutional partnerships to bring Indian patients access to its medicines.
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The partnership will also help to accelerate HempStreet’s upcoming venture, the transdermal delivery technology for cannabinoids, to launch in markets beyond Asia with the help of MGC Pharma’s distribution network in Australia, UK, Brazil and Ireland.
Co-founder of HempStreet, Abhishek Mohan, commented: “We are very excited to work with Roby and the team at MGC Pharma, bringing cutting-edge, scientifically-validated phytopharmaceutical medicines to tackle mass ailments in India and beyond.
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“In particular, CimetrA, which has shown a 100 per cent success rate in Phase II clinical trials in India, will be an important product just on account of the fact that an estimated 15 million individuals are experiencing some sort of post-Covid-19/Long-Covid symptoms.”
MGC Pharma has stated that CimetrA – made of artemisinin, curcumin, and boswellia serrata – is effective in arresting cytokine storms associated with Covid-19. There are currently over 15 million individuals, approximately 30 per cent of all Covid-19 recoverees in India, said to be experiencing some form of post- or long-Covid related symptoms.
Co-founder, MGC Pharma, Roby Zomer, added: “Entry into significant global markets such as India is paramount to MGC Pharma’s agenda, advancing phytomedicine adoption globally.
“India has a long-established and government-supported Ayurvedic healthcare system, and working with HempStreet to facilitate access to our proprietary phytomedicines such as CimetrA and CannEpil and the new formulations on the pipeline, is crucial to gaining a foothold in this market.”
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