MGC Pharmaceuticals Ltd.

MGC Pharmaceuticals enters partnership with Sciensus Rare for the distribution of CannEpil® and CogniCann® in the EU and UK

05 April 2022

ASX, LSE: MXC

Key Highlights:

·      MGC executes supply and distribution agreement with international pharmaceuticals company Sciensus Rare.

·      Sciensus Rare is an established international pharmaceutical services company, specialising in the provision of rare disease medicines through a network of decentralised clinical trials, early access programs and licensed distribution programs.

·      Sciensus Rare appointed the exclusive distributor of MGC Pharma's CannEpil® and CogniCann® products in key EU countries and the United Kingdom.

·      Cannepil® and CogniCann® are MGC Pharmaceuticals' proprietary cannabinoid products for the treatment of Refractory Epilepsy, and Dementia and Alzheimer's respectively.

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') a European based bio-pharma company specialising in the production and development of phytomedicines, has signed an exclusive distribution agreement with Sciensus Rare, a part of UK health care group, Sciensus, for the distribution of CannEpil® and CogniCann® in key European territories and the UK.

Sciensus Rare is an international pharmaceutical services company based in the Netherlands, specialising in the provision of rare disease medicines through decentralised clinical trials, medical early access programs and licensed distribution programs, with over 30-year of experience in providing health care services, and expanding medical access for products in Europe.

Under the terms of the distribution agreement, Sciensus Rare has been appointed the exclusive distributor of CannEpil® and CogniCann® in Denmark, France, Italy, Spain, Luxembourg, and the United Kingdom, some of the most advanced pharmaceutical markets in the world, for an initial 4-year term. After the initial 12 months of the agreement, Sciensus Rare will be subject to minimum purchase order requirements to maintain its exclusive distributor status. The Parties have agreed that MGC Pharma will continue to be responsible for seeking Market Authorisation in these territories, while Sciensus Rare will be responsible for applications to Early Access Programmes and Named Patient Programmes.

About CannEpil®

CannEpil® is a phytocannabinoid derived Investigational Medicinal Product designed to treat Drug Resistant Epilepsy with a high CBD, low THC formula, and was made available for distribution and prescription in Ireland in 2019 as part of the Ireland's Medical Cannabis Access Programme. A research report prepared by Alacrita, a life sciences consulting company, suggested potential market in the agreement territories of 120,000 adults and children suffering from refractory epilepsy[1].  

About CogniCann®

CogniCann® is a phytocannabinoid derived Investigational Medicinal Product designed to treat patients with Dementia and Alzheimer's disease, and is undergoing a Phase II clinical trial at the University of Notre Dame in Perth, Western Australia, which has been designed to evaluate the potential behavioural benefits of CogniCann® on patients suffering from these ailments.

Roby Zomer, Managing Director and CEO of MGC Pharma, commented:

"Sciensus Rare is an excellent pharmaceutical service company, with the experience and expertise necessary to increase clinical access for both CannEpil® and CogniCann® to those patients who are most in need.

This is another important step in widening patient access to our pharmaceutical products, and puts in place a long term plan to build the distribution networks required in Western Europe, one of the most important pharmaceutical markets in the world."

Gareth Williams, President of Sciensus Rare, commented:

"We are extremely pleased to be working in partnership with MGC Pharmaceuticals within the exciting global medical cannabis market and look forward to supporting clinicians with access to both CannEpil® and CogniCann®."

--Ends--

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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 phytomedicines 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. 

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About Sciensus Rare

Science International B.V. trading as Sciensus Rare, is the dedicated and enhanced rare disease medicines service business within the Sciensus group of companies, the largest speciality pharmacy provider in Europe, of complex medication management in a home environment.

Sciensus Rare is a speciality pharmacy focused on rare diseases, providing turnkey services for emerging and medium-sized biotech organisations, achieving market access for their products in Europe and beyond. Sciensus Rare offers five main services; decentralised clinical trials, medicines access, tailored supply chain management, patient and family support and outcome monitoring.

www.sciensus-rare.com