Cannabis company MGC Pharmaceuticals Ltd soars on food supplement product dealPosted by On

Cannabis green leaf

The company is also carrying out clinical trials of ArtemiC into the treatment of COVID-19

( ) shares soared 90% higher on the back of the cannabis company’s first deal to supply its food supplement product.

The company, which has corporate headquarters in Australia, an operational base in Slovenia and European corporate headquarters in the UK, floated in London last week after a £6.5mln fundraising at 1.475p per share.

Mid-morning on Thursday, the shares hit 9.25p, a rise of 94% on the day and up 527% since the London IPO.

Today’s deal is an exclusive master supply and distribution agreement for its ArtemiC Rescue product with leading European nutraceutical producer and distributor, Swiss , and the company said it provides “direct access large and rapidly growing markets that are still reporting high numbers of COVID-19 cases”.

Read more: MGC Pharmaceuticals signs supply and distribution agreement with Swiss PharmaCan

The significance of coronavirus in the deal is that MGC Pharma is also carrying out clinical trials of ArtemiC into the treatment of COVID-19.

These COVID trials are employing a delivery system that is also starting to be tested in MGC’s ongoing pre-clinical research program into the use of cannabinoids in the treatment of aggressive glioblastoma brain cancer, the company said earlier this week.

Budding scene

One of a growing number of companies in this sub-sector that are floating in London after regulatory changes in recent years…

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The company is also carrying out clinical trials of ArtemiC into the treatment of COVID-19

( ) shares soared 90% higher on the back of the cannabis company’s first deal to supply its food supplement product.

The company, which has corporate headquarters in Australia, an operational base in Slovenia and European corporate headquarters in the UK, floated in London last week after a £6.5mln fundraising at 1.475p per share.

Mid-morning on Thursday, the shares hit 9.25p, a rise of 94% on the day and up 527% since the London IPO.

Today’s deal is an exclusive master supply and distribution agreement for its ArtemiC Rescue product with leading European nutraceutical producer and distributor, Swiss , and the company said it provides “direct access large and rapidly growing markets that are still reporting high numbers of COVID-19 cases”.

Read more: MGC Pharmaceuticals signs supply and distribution agreement with Swiss PharmaCan

The significance of coronavirus in the deal is that MGC Pharma is also carrying out clinical trials of ArtemiC into the treatment of COVID-19.

These COVID trials are employing a delivery system that is also starting to be tested in MGC’s ongoing pre-clinical research program into the use of cannabinoids in the treatment of aggressive glioblastoma brain cancer, the company said earlier this week.

Budding scene

One of a growing number of companies in this sub-sector that are floating in London after regulatory changes in recent years…



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