Partnership with HempStreet
MGC Pharmaceuticals Ltd.
HempStreet announces partnership with MGC Pharma to revolutionise Global Phytomedicine Sector
4 May 2022
ASX, LSE: MXC
The Indian medicinal cannabis solution pioneer and the European biopharma company are combining their R&D and distribution strengths to improve the quality of life.
MGC Pharmaceuticals Ltd (' MGC Pharma' or ' the Company '), a European based bio-pharma company specialising in the production and development of phytomedicines, is pleased to announce a partnership with HempStreet, India's first research to retail venture in the medicinal cannabis sector.
Headquartered in the UK, MGC Pharma has been working on polyherbal formulations based on cannabis and other phytopharmaceuticals. MGC Pharma has two proprietary formulations CimetrA™ and CannEpil©. CimetrA ™ is effective in arresting the cytokine storm, a symptom of COVID-19. It is made of natural-sourced ingredients including Artemisinin, Curcumin, and Boswellia serrata. CannEpil © is a phytocannabinoid-based medicine that effectively treats drug-resistant Epilepsy. Both products have undergone successful Phase II clinical trials. Through this partnership, and through HempStreet's extensive distribution reach and key institutional partnerships, Indian patients will now have access to these medicines, starting with CimetrA ™, which had an immediate need as there are currently over 15 million individuals (approximately 30% of all Covid-19 recoverees in India) said to be experiencing some form of post- or long- Covid- 19 related symptoms.
The partnership will also accelerate HempStreet's upcoming venture - transdermal delivery technology for cannabinoids - to launch in the markets beyond Asia with the help of MGC Pharma's widespread distribution network in Australia, the UK, Brazil, and Ireland.
Commenting on the partnership, Abhishek Mohan, Co-founder of HempStreet, said:"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. In particular, CimetrA™, which has shown a 100% 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.
Further, Roby Zomer, Co-founder, MGC Pharma, said:"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."
MGC Pharma is leaving its mark in the global medical cannabis industry by developing and supplying top-quality phytocannabinoid medicines in Europe, North America, and Australasia. This partnership is a significant step for MGC Pharma to tap into the Asian market while helping HempStreet expand its global footprint.
Together with MGC Pharma, HempStreet is committed to bring well-researched, highly efficient, and responsibly-dispensed phytomedicines to tackle mass ailments faced by people worldwide. With this partnership, HempStreet aims to combine the R&D and distribution strengths of both companies to improve the quality of life for hundreds of millions of people.
--Ends--
Authorised for release by the Board, for further information please contact:
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MGC Pharmaceuticals Ltd Roby Zomer CEO & Managing Director +61 8 6382 3390 |
MGC Pharmaceuticals Ltd David Lim Company Secretary +61 8 6382 3390 |
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UK Broker - Turner Pope Andy Thacker +44 203 657 0050 |
UK PR Advisors - Tavistock Charles Vivian / Tim Pearson +44 207 920 3150
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About MGC Pharma
MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytocannabinoid derived medicines to patients globally. The Company's founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived medicines for the growing demand in the medical markets in Europe, North America and Australasia. MGC Pharma has a robust product offering targeting two widespread medical conditions - epilepsy and dementia - and has further products in the development pipeline.
Employing its 'Nature to Medicine' strategy, MGC Pharma has partnered with renowned institutions and academia to optimise cultivation and the development of targeted phytocannabinoid derived medicines products prior to production in the Company's EU-GMP Certified manufacturing facility.
MGC Pharma has a number of research collaborations with world renowned academic institutions, and including recent research highlighting the positive impact of using specific phytocannabinoid formulations developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and so far therapeutically resistant primary brain tumour.
MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market.
Follow us through our social media channels:
Twitter: @MGC_Pharma
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LinkedIn: MGC Pharmaceuticals Ltd.
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About HempStreet
HempStreet is India's first research to retail medicinal cannabis venture, working towards amalgamating the age-old science of Ayurveda with modern cannabis research to develop sustainable and economical solutions for mass ailments. The Company ensures end-to-end blockchain technology-based supply chain tracking to minimise any chance of abuse. HempStreet's dispensation network of more than 9,500 registered medical practitioners across 24 states of India is a testament to the efficacy of the formulations and the trust of medical practitioners in the brand. The company recently became India's first medicinal cannabis venture to have been awarded the prestigious Biotechnology Ignition Grant (BIG) of BIRAC.
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