MGC Pharmaceuticals Ltd (ASX:MXC) (LON:MXC) (OTCMKTS:MGCLF) has signed an exclusive master supply and distribution agreement with leading European nutraceutical producer and distributor, Swiss PharmaCan AG, for the sale and distribution of the company’s food supplement ArtemiC™ Product line.
This agreement represents the first sales of ArtemiC™ as a food-grade product and provides the company with direct access to the large and rapidly growing markets that are still reporting high numbers of COVID-19 cases.
ArtemiC™ is a clinically tested food supplement (nutraceutical, dietary supplement, natural health product) containing four natural-based ingredients consisting of Artemisinin, Curcumin, Boswellia serrata and Vitamin C.
Shares have risen again today, up 21 per cent to A$0.083. Since the market close of February 1 the company, which has a market cap of approximately A$169.4 million, has risen from A$0.026 cents to A$0.086, a new high of almost three years.
“Validation of ArtemiC™”
MGC Pharma co-founder and managing director Roby Zomer said: “Following the successful results achieved from our ArtemiC™ Phase II clinical trial in December last year, we are very pleased to have signed this agreement with Swiss PharmaCan AG for the worldwide distribution of ArtemiC™ as a food supplement as it provides full product validation of ArtemiC™ and its therapeutic benefits.”
Swiss PharmaCan AG CEO and board member Michel Fässler said the company was “very happy with the successful cooperation between MGC and Swiss PharmaCan AG.”
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He said: “the potential of ArtemiC™ is unlimited and a viable, natural solution in the current crisis, offering to so many people possible help and alleviation of their suffering.”
Swiss PharmaCan will exclusively distribute ArtemiC™ Rescue and ArtemiC™ Support worldwide, with a specific focus on countries currently reporting high numbers of COVID-19.
This agreement has a minimum three-year term and includes minimum wholesale order quantity to MGC Pharma of 40,000 units of ArtemiC™ Rescue per quarter.
The initial wholesale order of 10,000 units has been received by MGC Pharma, which has a total retail market value of US$850,000 for Swiss PharmaCan AG.
MGC Pharma will also produce and provide daily dosage immune support supplement ArtemiC™ Support, which is specifically designed for daily consumption to support and maintain the strength of the human immune system.
Distribution channels in place
The company has sufficient manufacturing capacity at its production facility in Slovenia to produce commercial-scale batches of ArtemiC™ Rescue and ArtemiC™ Support for distribution by Swiss PharmaCan.
Additionally, Swiss PharmaCan has already secured agreement with Relay Medical Corp (CNSX:RELA) (OTCMKTS:RYMDF) (FRA:EIY2) and Glow LifeTech Ltd for exclusive North American and Caribbean sales and distribution rights for ArtemiC™ Rescue and ArtemiC™ Prevention.
Swiss PharmaCan has also secured Onassis Holdings Corp (OTCMKTS:ONSS) as master distributor of ArtemiC™ Rescue and ArtemiC™ Prevention through their channels in USA and Central America.
Phase II double-blind trial
The agreement follows the completion of a phase II double-blind, placebo-controlled clinical trial on 50 COVID-19 patients, to evaluate the safety and efficacy of the anti-inflammatory product, ArtemiC™ Rescue in December 2020.
Results from the trail highlight that ArtemiC™ Rescue demonstrates the following advantages:
- A full safety and efficacy profile with no drug-adverse events;
- The ability to prevent deterioration of COVID-19 patients and achieve faster clinical improvement;
- The ability to assist in reducing the pressure on the medical system and support coping with hospitalised patients;
- The ability to reduce symptoms and pain associated with COVID-19; and
- The versatility to be used in community as well as in hospitals.